Kawasaki Kisen Kaisha, Ltd. (the “Company”) hereby announces the adjustment of the conversion price for its ¥50, 000, 000, 000 Zero Coupon Convertible Bonds due 2018 (the “Bonds”) as follows:
1. Adjustment of Conversion Price
2. Effective Date for the new Conversion price
April 1, 2016 (Japan time)
3. Reason for the adjustment
Adjustment of Conversion Price pursuant to Condition 5.2.4 of the terms and conditions of the Bonds due to the Extraordinary Dividend (as defined in such Condition 5.2.4) resulting from payment of an annual dividend of ¥2.50 per Share. The payment of such dividend was approved at a general meeting of shareholders on June 24, 2016. Accordingly, the aggregate amount of dividend for the fiscal year ended 31 March 2016 has become JPY 5.00 per Share.
For further information, please contact: Yuji Asano General Manager, Finance Group Kawasaki Kisen Kaisha, Ltd. (“K” Line) Tel: +81-3-3595-5608 Fax: +81-3-3595-5176