Nippon Chemi-Con Exercises Conversion Rights for B Shares

TOKYO, May 20 (Pulse News Wire) – NIPPON CHEMI-CON CORPORATION (6997.T) exercised conversion rights for its B shares, converting 912 B shares into ordinary shares. As a result, the company will issue 1,001,070 ordinary shares to Japan Industrial Solutions Third Investment Limited Partnership, which holds some of the B shares.

Prior to the exercise of the conversion rights, the company had 25,687,446 ordinary shares outstanding. Following the issuance, the number of ordinary shares increased to 26,688,516, representing a net increase of 1,001,070. Additionally, the number of A shares remained unchanged at 10,000, while the total number of B shares decreased by 912.

It is noted that A and B shares do not carry voting rights. Furthermore, the B shares being converted will be canceled upon completion of the transaction. For more detailed information on the A and B share structures, interested parties should refer to previous announcements dated October 10, 2023, and December 27, 2023.