Back to 2007 listResults of Tender Offer for Shares of Toenec Corporation
March 2, 2007
Chubu Electric Power Co., Inc.
On February 1, 2007, Chubu Electric Power Co., Inc. opened a tender offer for common stock of Toenec Corporation. Results of this tender offer as of March 1, 2007 are as below.
As a result of the tender offer, Toenec Corporation will become a consolidated subsidiary of Chubu Electric.
Details
1 Overview of tender offer for shares of Toenec Corporation (announced January 31, 2007)
(1) Purchase period:
February 1 - March 1, 2007 (20 business days)
(2) Purchase price:
650 yen per share
(3) Shares intended to purchase:
24,020,000
2 Results of tender offer
(1) Response
| Number of shareholders offering shares | Number of shares offered | Number of shares to be purchased |
| 1,783 | 37,654,116 | 24,020,000 |
(Note) Because the number of shares offered exceeded the amount sought for purchase, Chubu Electric will purchase shares based on a proportional distribution system as stipulated in the Securities and Exchange Law and Cabinet Office directive.
(2) Shares held after purchase
Shares held before purchase: 24,310,075 (25.15% stake)
Shares held after purchase: 48,330,075 (50.01% stake)
(Note) Stake percentages are based on the number of Toenec Corporation shares already issued (96,649,954).
(3) Funds required to make purchase:
15,613,000,000 yen
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