IR News

【PARK24 Co., Ltd. 】Adjustment of the Conversion Price of the 15,000,000,000 yen Zero Coupon Convertible Bonds due 2026


PARK24 announces the adjustment of the conversion price of the outstanding 15,000,000,000 yen Zero Coupon Convertible Bonds due 2026.

Reason for the adjustment: Adjustment of Conversion Price pursuant to Condition 5.2.4 of the terms and conditions of the Bonds and Clause 7.8.4 of the Trust Deed, due to a dividend of ?25 per Share, which amounts to an Extraordinary Dividend (as defined in the Trust Deed). The payment of such dividend was approved at a general meeting of shareholders on 30 January 2007.

Old Conversion Price: 2,750 yen
New Conversion Price: 2,727.5 yen
  * Note: the calculation of this New Conversion Price required the calculation of the Current Market Price per Share (as defined in the Trust Deed) on the Record Date referred to below. In calculating such Current Market Price per Share, the Closing Price of the Shares used in such calculation for each date in the relevant period has been halved to take into account the stock split that became effective on 31 October 2006.
Record Date: 31 October 2006 (Japan time)
Effective Date for the new Conversion Price: Retroactively from the day after the Record Date set out above (Japan time)