Tokyo, Japan, April 12, 2000 - SOFTBANK CORP. (TSE: 9984) announced that its Board of Directors authorized the splitting of SOFTBANK’s common stock to expand the distribution of shares among investors. Information concerning the authorized share split is given below:
SOFTBANK’s stock will be split on a three-for-one basis for shareholders of record on April 30, 2000. However, since April 30, 2000 is a Sunday, the share split is actually for shareholders of record on Friday April 28, 2000.
The aggregate number of issued and outstanding shares as of Sunday April 30, 2000 multiplied by two.
Saturday April 1, 2000
Other factors relating to the current authorized share split will be finalized at a future meeting of the Board of Directors.
The conversion price of the outstanding Convertible Bond #1 was reset.
Convertible Bond #1 2,713.70 yen (8,141.20 yen [Pre-split])
May 1, 2000
To adjust for the share split, the execution prices of the warrants detachable from previously issued Bonds with Warrants #2 through #5 were reset.
| Warrant Bond #2-Warrant Portion | 1,708.30 yen | (5,125 yen [Pre-split]) |
|---|---|---|
| Warrant Bond #3-Warrant Portion | 2,770 yen | (8,310 yen [Pre-split]) |
| Warrant Bond #4-Warrant Portion | 6,460 yen | (19,380 yen [Pre-split]) |
| Warrant Bond #5-Warrant Portion | 28,633.30 yen | (85,900 yen [Pre-split]) |
May 1, 2000
(1) The number of shares to be increased upon the share spit is not determined, because the aggregate number of issued and outstanding shares may increase upon conversion of convertible bonds and/or exercise of warrants until the record date of the share split, and the aggregate number of issued and outstanding shares as of the record date of the share split shall not be fixed at this point.
(2) The total number of issued and outstanding shares following the share split is, if computed based on the aggregate number of issued and outstanding shares as of March 31, 2000 and the new shares to be issued on June 23, 2000, as follows: Number of shares issued and outstanding on March 31, 2000: 110,151,188 Number of shares to be increased upon share split: 220,302,376 Number shares issued and outstanding following the share split: 330,453,564
(3) There will be no increase in the amount of stated capital to adjust for the current share split, because the amount in excess of par value in stated capital shall be appropriate.
Capital (As of March 31, 2000): 124,957,351,693 yen
(4) Dividends
For the fiscal year ended March 31, 2000, SOFTBANK intends to pay a 20 yen/share dividend to shareholders of record on March 31, 2000. Management is currently exploring its future dividend policy for shareholders of record on March 31, 2001 and anticipates announcing this at the time of the earnings release for the fiscal year ended March 31, 2000.
Copyright © SOFTBANK CORP. All rights reserved.
