| PRESS RELEASE: No.05 May 11, 2007 |
||||||||||||||
|
||||||||||||||
| Notice Regarding Premature Redemption of Convertible Bond-Type Corporate Bonds with Stock Subscription Rights |
||||||||||||||
| This is to inform you that, at its Board of Directors' meeting on May 11, 2007, Sumitomo Wiring Systems resolved the premature redemption of its first unsecured convertible bond-type corporate bonds with stock subscription rights (hereafter called "the Corporate Bonds")
|
||||||||||||||
| 1. Reasons for premature redemption | |
| As announced separately today, Sumitomo Wiring Systems resolved at today's Board of Directors' meeting to conclude a stock swap agreement with Sumitomo Electric Industries, Ltd. (hereafter called "SEI"), which will cause SWS to become a wholly owned subsidiary of SEI; SWS also determined to propose an agenda item, requesting approval of the agreement, at the 146th regular stockholders' meeting. As a result, a premature redemption will take place, because SWS's stocks and the Corporate Bonds currently listed at the Nagoya Stock Exchange will be delisted. |
|
| 2. Method of premature redemption | |
| The total amount of the outstanding balance will be prematurely redeemed. | |
| 3. Issues to be prematurely redeemed | |
| The first unsecured convertible bond-type corporate bonds with stock subscription rights of Sumitomo Wiring Systems, Ltd. | |
| 4. Expiration date for conversion request | |
| Thursday, July 19, 2007 (This is a bank business day before the premature redemption date specified in 5 below.) |
|
| 5. Premature redemption date | |
| Friday, July 20, 2007 *Conversion to stocks will not be possible after the premature redemption date. |
|
| 6. Delisting date | |
| Friday, July 13, 2007 (planned) *The delisting date may be moved up, according to the rules at the Nagoya Stock Exchange, if the outstanding balance (the total of listed face value) of the Corporate Bonds is under 300 million yen. We will contact you should the delisting date be changed. |
|
| 7. Amount to be prematurely redeemed | |
| 101 yen per face value of 100 yen | |
| [Reference] | |
| Outline of the first unsecured convertible bond-type corporate bonds with stock subscription rights of Sumitomo Wiring Systems, Ltd. | |
| (1) Issue date: | September 11, 1996 |
| (2) Total amount issued: | 7 billion yen |
| (3) Outstanding balance: | 857 million yen (as of the end of April 2007) |
| (4) Predetermined redemption date: | September 30, 2008 |
| (5) Interest rate: | 0.90% per year |
| (6) Conversion price: | 944 yen |
