| Tokyo, July 29, 2005 -- Mitsubishi Heavy Industries, Ltd. (the "Company") hereby gives notice that at a meeting of its Board of Directors held today, the following specific points with regard to the issuance of stock acquisition rights as stock options, pursuant to Article 280-20 and Article 280-21 of the Commercial Code and the resolution at the Company's Ordinary General Meeting of Shareholders held on June 28, 2005, were decided. |
1.Name of the stock acquisition rights:
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Mitsubishi Heavy Industries, Ltd. #3 stock acquisition rights. |
2.Type and number of shares subject to the stock acquisition rights:
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502,000 shares of the Company's common stock. |
3.Total number of stock acquisition rights issued:
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502. The number of new shares subject to each stock acquisition right (hereinafter referred to as "number of shares granted") will be 1,000. |
4.Issue price and issue date of the stock acquisition rights:
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To be issued free of charge on August 11, 2005. |
5.Amount to be paid upon exercise of a stock acquisition right:
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To be determined on August 11, 2005.
The amount to be paid when a stock acquisition right is exercised will be the amount equal to the amount paid per share issued or transferred by the exercise of such stock acquisition right (hereinafter referred to as "exercise value") multiplied by the number of shares granted.
The exercise value will be the amount (rounding up all fractions of less than one yen) of the average value (except days without a closing price) of the closing price on the Tokyo Stock Exchange for regular transactions of common shares of the Company for each day of the month preceding the month of the date of issuance (except non-trading days)(hereinafter referred to as "closing price") or the closing price of the date of issuance (if there was no closing price on the day, the closing price of the closest day preceding that day), whichever is higher. |
6.Total value of the Company's common stock issued or transferred through exercise of the stock acquisition rights:
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To be decided on August 11, 2005. |
7.Period to exercise each stock acquisition right:
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The period will be from June 29, 2007 to June 28, 2011. |
8.Payment location upon exercise of the stock acquisition rights:
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The Mitsubishi Trust and Banking Corporation, Head Office (or its successor, if any). |
9.Issuance of stock acquisition right securities:
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Stock acquisition right securities are issued only when requested by the holders of stock acquisition rights. |
10.Capitalization of issuing value when shares are issued following the exercise of stock acquisition rights:
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The amount credited to capital stock account shall be determined by multiplying the exercise value by 0.5 (all fractions of less than one yen will be rounded up). |
11.Dividend for shares to be issued upon exercise of stock acquisition rights:
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The annual dividend or interim dividend for shares issued as a result of exercise of stock acquisition rights will be paid as if the shares had been issued on April 1 for those exercised between April 1 to September 30, and on October 1 for those exercised between October 1 to the following March 31. |
12.Policy regarding succession of the stock acquisition rights following a share exchange or share transfer:
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In the event that shares are exchanged or transferred in a way that makes the Company a wholly owned subsidiary, the Company's obligations regarding unexercised or uncancelled stock acquisition rights may be assumed by the company that will wholly own the Company as a result of the exchange or transfer. |
13.Persons who will be allotted stock acquisition rights:
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The 26 Directors and Executive Officers of the Company. |
References
| 1. |
Date of the resolution passed by the Board of Directors authorizing the proposal to the Ordinary General Meeting of Shareholders:
April 28, 2005. |
| 2. |
Date of the resolution passed by the Ordinary General Meeting of Shareholders:
June 28, 2005. |
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About Mitsubishi Heavy Industries
Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers, with consolidated sales of 2,373 billion yen in fiscal 2003 (year ended March 31, 2004). MHI's diverse lineup of products and services encompasses shipbuilding, steel structures, power plants, chemical plants, steel plants, environmental equipment, industrial and general machinery, aircraft, space rocketry and air-conditioning systems.
For more information, please visit the MHI website (http://www.mhi.co.jp).
PRESS CONTACT:
Hideo Ikuno: h.ikuno@daiya-pr.co.jp
Tel: +813-6716-5277, Fax: +813-6716-5929
Daiya PR (in charge of public relations for Mitsubishi Heavy Industries, Ltd.) |
