| Due to the applicability of Article 4, Section 2, Clause 1 of the Special Regulations Regarding Delisting Standards in the Securities Listing Standards, the "4th Series Unsecured Convertible Bonds with 120% Soft Call Option" (the "Convertible Bonds") that Yamaha Motor Co., Ltd. (the "Company") issued on March 4, 2002, will be delisted. Details are provided below.
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Due to advanced conversion of the Convertible Bonds into common stock, as of December 27, 2005, the outstanding amount of the Convertible Bonds, which is also the total face value of the amount listed, was below 300 million yen. Since the outstanding amount of the Convertible Bonds did not fulfill the listing standards of the Tokyo Stock Exchange, the Convertible Bonds will be delisted from the exchange.
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January 29, 2006
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Note: |
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The Convertible Bonds issued by the Company will be assigned to the exchange's pre-delisting section from December 29, 2005 to January 28, 2006, where trading can be conducted up to and including January 27, 2006. Delisting occurs on January 29, 2006. |
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| 1) |
Name: |
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Yamaha Motor Co., Ltd. 4th Series Unsecured Convertible Bonds with 120% Soft Call Option (with special agreement on concurrent liens limited to CB type warrant bonds) |
| 2) |
Outstanding Amount: |
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295 million yen (as of December 27, 2005) |
| 3) |
Conversion Price: |
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828 yen |
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Securities Issued: |
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Common stock |
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Although the Convertible Bonds will be delisted on January 29, 2006, the date of maturity and the expiry date of the conversion period for the Convertible Bonds are March 31, 2009 and March 30, 2009, respectively. The delisting of the Convertible Bonds notwithstanding, conversion into listed common stock up to and including the expiry date of the conversion period will remain possible, based on predetermined procedures.
Regarding exercise of the Convertible Bonds' call option, requirements for the 120% call option provided in the agreement with companies commissioned on behalf of the bondholders were met on July 25, 2003. By virtue of this qualification, the Company has the right to exercise early redemption of all Convertible Bonds at 100 percent of the 100 yen par value of each bond.
If the Company, based on the aforementioned requirements, elects to exercise early redemption of the Convertible Bonds prior to March 30, 2009, it will be able to convert the Convertible Bonds into listed common stock before and including the bank business day immediately prior to the date upon which the Convertible Bonds are redeemed. However, at the present, the Company has not decided whether or not to exercise the right.
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