Repurchase of Fractional Shares Resulting from a Share Exchange (Repurchase of shares pursuant to Article 234, Paragraphs 4 and 5 of the Companies Act)February 8, 2013
SoftBank Corp. (the “Company”) announced that its Board of Directors resolved on February 8, 2013 to approve the repurchase of less than one (1) share resulting from a share exchange pursuant to Article 234, Paragraphs 4 and 5 of the Companies Act.
1. About the share repurchase
The share exchange by the Company and eAccess Ltd. (“eAccess”) was executed effective January 1, 2013 pursuant to which eAccess became a wholly-owned subsidiary of the Company.
The Board of Directors of the Company resolved to approve the repurchase of less than one (1) share delivered to eAccess shareholders, resulting from the share exchange pursuant to Article 234, Paragraphs 4 and 5 of the Companies Act, for JPY 3,385, the closing price of the common stock of the Company on the Tokyo Stock Exchange as of February 8, 2013. In accordance with this resolution money in the amount equivalent to such fraction of a share (with any fraction less than one (1) yen being rounded up to the nearest yen) will be delivered to such shareholders.
2. Details of the repurchase
|1) Type of shares to be repurchased||common stock of the Company|
|2) Total number of shares to be repurchased||8,632 shares|
|3) Total amount to pay for the repurchase||JPY 29,219,320|
|4) Date of the Board resolution regarding repurchase||February 8, 2013|
3. The Company's treasury stock holdings as of January 31, 2013
|1) Number of shares issued||1,186,343,906 shares|
|2) Number of treasury stock||9,181,985 shares|
As described in the press release “Share Transfer Resulting in Change in Scope of Consolidation of a Subsidiary” issued on January 17, 2013, the Company transferred a part of its shares in eAccess to third-party purchasers. As a result of the share transfer, eAccess became an equity method affiliate of the Company.
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