Sumitomo Forestry : Notice Regarding Adjustment of Conversion Price for Zero Coupon Convertible Bonds due 2023
August 03, 2021 at 06:11 am EDT
Share
August 3, 2021
For Immediate Release
Company name: Sumitomo Forestry Co., Ltd.
(Stock code: 1911 1st section, Tokyo Stock Exchange)
Representative: Toshiro Mitsuyoshi, President & CEO
Inquiries: Toshihiro Horii, General Manager of Corporate Communications Dept.
(Tel: +81-3-3214-2270)
Notice Regarding Adjustment of Conversion Price for
Zero Coupon Convertible Bonds due 2023
Sumitomo Forestry Co., Ltd. (the "Company") hereby announces the adjustment of the conversion price for the Zero Coupon Convertible Bonds issued by the Company (the "Bonds"), which are due to mature in 2023.
1.
Adjustment of conversion price
Name of issue
Conversion price
Conversion price
before the adjustment
after the adjustment
Zero Coupon Convertible Bonds due 2023
2,167.2 yen
2,163.6 yen
2.
Effective date
Saturday, August 7, 2021
3. Reason for the adjustment
With regard to the issuance of new shares by third-party allotment approved in the board of directors meeting on Wednesday, June 23, 2021, in respect of which the number of shares to be issued was determined on Tuesday, August 3, 2021, the pay-in price determined on Monday, July 5, 2021 falls below the market price prescribed in the terms and conditions of the Bonds. Therefore, the Company has today made an adjustment to the conversion price of the Bonds in accordance with the provisions regarding the adjustment to the conversion price contained in the terms and conditions of the Bonds.
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Sumitomo Forestry Co. Ltd. published this content on 03 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 09:54:56 UTC.
Sumitomo Forestry Co., Ltd. is a Japan-based company mainly engaged in the forestry business. The Company operates in three business segments. The Timber and Building Material segment purchases, manufactures, processes and sells lumber products and building materials. The Housing segment constructs, sells, maintains and renovates detached houses, apartment and condominiums, operates exterior, landscape and greening works. The overseas segment is engaged in the purchase, manufacture and sales of lumber products and building materials overseas, as well as the contracted construction and sales of detached houses. Other businesses include biomass power generation business, pay nursing homes, dispatches manpower, manufactures and sells agriculture and gardening materials, and involves leasing business and insurance agency business.
SUMITOMO FORESTRY CO., LTD. 
