April 28, 2023
Kyushu Electric Power Co., Inc.
Kyushu Electric Power Co., Inc.
Issuance of Class B Preferred Shares by Third-Party Allotment and Acquisition and Cancellation of Class A Preferred Shares, etc.
Kyushu Electric Power Co., Inc. announces that its Board of Directors today approved a resolution on the issuance of Class B preferred shares by third-party allotment and the acquisition and cancellation of Class A preferred shares, etc., subject to a special resolution at the 99th Ordinary General Shareholders’ Meeting to be held on June 28, 2023.
Main contents of Class B preferred shares
| Class B preferred share (this time) | Class A preferred share (current) | |
|---|---|---|
| Issue date | August 1, 2023 | June 28, 2019 |
| Issue price/ number of share |
200 billion yen/2,000 shares | 100 billion yen/1,000 shares |
| Ownership | Mizuho Bank, Ltd. 80 billion yen (800 shares) Development Bank of Japan Inc. 80 billion yen (800 shares) MUFG Bank, Ltd. 40 billion yen (400 shares) |
Mizuho Bank, Ltd. 40 billion yen (400 shares) Development Bank of Japan Inc. 40 billion yen (400 shares) MUFG Bank, Ltd. 20 billion yen (200 shares) |
| Right to conversion to common share |
No | No |
| Right to vote | No | No |
| Coupon | 2.9% | 2.1% |
| Acquisition request right |
In case of meeting requirements (Ex: 8 years after date of issue date) |
In case of meeting requirements (Ex: 5 years after date of issue date) |
| Our acquisition | At any time since the next day of issue date | At any time since the next day of issue date |
To realize the Kyuden Group Management Vision 2030 and Kyuden Group Carbon Neutral Vision 2050, the Kyuden Group will continue to work together as a group on its carbon neutrality efforts and expand their growth businesses.