SOFTBANK ANNOUNCES THREE-FOR-ONE SHARE SPLIT
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:
1. Shares resulting from the authorized splitting of SOFTBANK CORP.’s common stock will be payable after market close on Friday June 23, 2000. The share split will be conducted in the following manner
(1) Method of the share split
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.
(2) Number of shares to be increased upon the share split
The aggregate number of issued and outstanding shares as of Sunday April 30, 2000 multiplied by two.
2. Commencement date for calculation of dividends
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.
4. Convertible bonds
The conversion price of the outstanding Convertible Bond #1 was reset.
(1) Conversion price
Convertible Bond #1 2,713.70 yen (8,141.20 yen [Pre-split])
(2) Effective date
May 1, 2000
5. Bonds with Warrants
To adjust for the share split, the execution prices of the warrants detachable from previously issued Bonds with Warrants #2 through #5 were reset.
(1) Execution prices
|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])|
(2) Effective date
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
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.
SOFTBANK FINANCE CORPORATION
- Investor Relations Department
- Finance Department
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