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Yamada Denki Co Ltd Announces Partial Change to Article of Incorporation of Authorized Share Number; Lowers Year-end Dividend Forecast for FY 2014; Adjusts Conversion Price of Convertible Bonds

Monday, 12 Aug 2013 05:40am EDT 

Yamada Denki Co Ltd announced that it has received approval from the shareholders meeting to make partial change to its article of incorporation on October 1, 2013. Based on change to article six, the Company will increase total number of authorized shares from 200 million shares to 2 billion shares. Due to this development, the Company has adjusted the conversion price from JPY 13,750.40 per share to JPY 1,375.00 per share, for the 2015 due EURO Yen denominated convertible corporate bonds, effective October 1, 2013. The Company has also lowered the year-end dividend forecast from JPY 60 per share, disclosed on May 9, 2013, to JPY 6 per share, for the fiscal year ending March 2014. 

Company Quote

-3.0 -0.89%
22 Sep 2014