Notice Concerning the Ratio of NEC Electronics' Shares Held by the "Special Few"
KAWASAKI, Japan, July 10, 2007
NEC Electronics Corporation (TSE:6723) today announced that, according to the Tokyo Stock Exchange (TSE), the ratio of the number of the company's shares held by the "special few"* as of March 31, 2007 exceeded 75 percent, meeting the TSE's criteria for delisting. Accordingly, as announced today by the TSE, the company's shares are now in a grace period for the purpose of delisting (from April 1, 2007 to March 31, 2008).
However, the TSE announced a "Comprehensive Improvement Program for Listing System 2007" on June 22, 2007, and if these new criteria are implemented, it is expected that NEC Electronics will no longer meet the criteria for delisting.
While NEC Electronics believes its shares will not be delisted under the new criteria, it will nonetheless continue to carefully monitor the changing criteria, and work diligently to maintain its listing on the Tokyo Stock Exchange.
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The ratio of the number of a company's shares held by the "special few" is defined under TSE rules as the aggregate number of shares owned by the ten largest shareholders (minus the number of shares deemed evidently as those not owned for firmly-committed purposes), the shares owned by the officers of the company, and the listed company itself if it owns treasury stock, divided by the number of listed shares. |
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