LION : Notice Concerning Issuance of Subscription Rights (Stock Options)
03/29/2012| 02:56am US/Eastern
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Based on a resolution of the Board of Directors made at a
meeting held today, Lion Corporation ("Lion" or "the Company")
announces its decision to issue subscription rights to
directors pursuant to Articles 236-1, 238-1 and -2, and 240-1
of the Corporation Law. Details concerning those eligible to
accept this offer of subscription rights are as below.
1.
Purpose of Issuing Subscription Rights
The issuance of subscription rights to directors
(excluding external directors) is intended to
strengthen the relationship between the Company's
stock and financial performance and the
compensation granted directors as well as to expose
directors to the same benefits and risks as
shareholders with regard to stock fluctuations. As
such, the move will provide a further incentive for
enhancing corporate value and improving the
Company's operating results.
2.
Main Points of the Issuance of Subscription Rights
(1)Name of subscription rights to be issued:
Lion Corporation 2nd stock options in 2012 under the
stock-based compensation plan(2)Number of subscription
right to be issued:
96,418
However, if the total number of subscription rights
offered is less than this number, then the "number of
subscription right to be issued" shall be adjusted
accordingly.(3)Number of directors to which subscription
rights shall be allotted and number of subscription
rights allotted:
Directors: 8; 96,418(4)Type and number of shares to be
issued for the purpose of issuing subscription
rights:
a.
Lion common stock: 96,418 shares
b.
Number of shares to be granted per subscription
right shall be one.
(5)Exercise period for subscription rights:
From April 17, 2012 to April 16 2042(6)Matters relating
to increases in common stock and capital reserve that
result from additional share issuances in connection with
the exercise of the subscription rights:
a.
The amount of common stock increase following such
additional share issuance shall be half of the
maximum allowable amount of increases in common
stock and other. This maximum allowable amount is
calculated in accordance with the provision in
Article 17, Paragraph 1, of Japan's Corporate
Accounting Regulations. In the event that such
calculation results in an amount with figures below
one yen, such figures shall be rounded up to the
nearest whole number.
b.
The amount of capital reserve increase following
such additional share issuance shall be determined
by subtracting the amount of common stock increase
as described in a. above from the maximum allowable
amount of increases in common stock and other as
described in a. above.
In the event that, however, the Company draws on
its existing treasury stock in response to the
exercise of subscription rights, there shall be no
increase in either common stock or capital reserve.
(7)Date of subscription right offer allotment:
April 17, 2012(8)Distribution of shares in response to
subscription rights exercised:
The Company shall, in principle, draw on its existing
treasury stock in response to the exercise of
subscription rights.
distributed by
This press release was issued by Lion Corporation and was initially posted at http://www.lion.co.jp/en/press/html/2012010f.htm . It was distributed, unedited and unaltered, by noodls on 2012-03-29 08:48:04 AM. The issuer is solely responsible for the accuracy of the information contained therein.
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