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Notice Concerning Determination of Number of New Shares to Be Issued by Way of Third-Party Allotment

Date
22 Sep 2010

Nippon Sheet Glass Company, Limited (the “Company”) hereby announces that, in connection with the issuance of new shares by way of third-party allotment resolved at the meeting of the Board of Directors held on August 24, 2010, it has been notified that the allottee elects to fully subscribe for the shares, as set forth below.

(1)  Number of New Shares to Be Issued

12,000,000 shares
(Maximum Number of New Shares Issuable: 12,000,000 shares)

(2)  Amount to be Paid

¥173.52 per share

(3)  Total Amount to be Paid

¥2,082,240,000

(4)  Amount of Stated Capital and Capital Surplus to be Increased

The Amount of Stated Capital to be Increased:
¥1,041,120,000
The Amount of Capital Surplus to be Increased:
¥1,041,120,000

(5)  Subscription Period

September 27, 2010 (Mon.)

(6)  Payment Date

September 28, 2010 (Tue.)

 

Reference


1. This third-party allotment was resolved at the meeting of the Board of Directors held on August 24, 2010, together with the issuance of new shares of the Company by way of offering and secondary distribution of shares (offering by way of over allotment).


For details of the third-party allotment, see our press releases “Notice Regarding Issuance of New Shares and Secondary Distribution of Shares” announced on August 24, 2010 and “Notice Regarding Determination of Issue Price, Selling Price, etc.” announced on September 8, 2010.

 

2. Change in the number of issued shares as a result of the third-party allotment

(1)  Total number of issued shares at present
(as of September 22, 2010):

Common Stock

891,550,999 shares

Type A Preferred Shares

3,000,000 shares

Total:

894,550,999 shares

(2)  Increase in number of shares by way of third-party allotment of new shares:

Common Stock

12,000,000 shares

(3)  Total number of issued shares after the third-party allotment of new shares:

Common Stock

903,550,999 shares

Type A Preferred Shares

3,000,000 shares

Total:

906,550,999 shares

 

 

3. Use of Proceeds

We intend to use approximately ¥40,226,680,000 of the net proceeds from the Japanese Public Offering, the International Offering and the Issuance of New Shares by way of Third-Party Allotment as follows:

  • ¥20,500,000,000 is expected to be applied to capital expenditures to be used in the financial years ending March 31, 2011, 2012 and 2013, for construction and repair of production facilities for the Building Products, Automotive and Specialty Glass businesses;
  • ¥4,500,000,000, of which ¥1,000,000,000 and ¥3,500,000,000 are to be used in the financial years ending March 31, 2011 and 2012, respectively, is expected to be used to expand our Low-E glass production capabilities in the Building Products business in China through an investment into a joint venture in Tianjin, China based on our agreement with Shanghai Yaohua Pilkington Glass Co. Ltd., and announced on August 17, 2010;
  • ¥10,000,000,000 is expected to be used for a partial repurchase and cancel of our Type A Preferred Shares, prior to October 31, 2010; and
  • the remaining amount is expected to be applied to repayment of long-term borrowings, which will become due during the financial years ending March 31, 2011, 2012 and 2013.


For details of the capital expenditure and joint venture investment, each mentioned above, see our press release “Notice Regarding Issuance of New Shares and Secondary Distribution of Shares” announced on August 24, 2010.

 

Note:

This press release does not constitute an offer of any securities for sale. This press release has been prepared for the sole purpose of publicly announcing the determination of the number of shares to be issued in connection with the issuance of new shares by way of third-party allotment, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan. The securities referred to above have not been, and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”). The securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act.