TOKYO, Japan, April 1, 2010—Renesas Electronics Corporation (TSE: 6723) today announced that the conversion price of the following convertible bonds was adjusted as follows. This adjustment was made in connection with the issuance of new shares through third-party allotments, which was resolved at the meetings of the Board of Directors held on September 16 and November 9, 2009.
1. Adjustment of Conversion Price:2. Effective Date for the Adjusted Conversion Price:3. Reason for the Adjustment:
This adjustment is due to the issue price of 146,782,990 new shares of Renesas Electronics common stock (917 yen) issued on April 1, 2010 falling below the current market price per Share (919.4 yen, as defined in the terms and conditions of the Zero Coupon Unsecured Euro Yen Convertible Bonds due 2011). The issuance of such new shares was resolved at the meetings of the Board of Directors of Renesas Electronics held on September 16 and November 9, 2009 (Japan time).
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power,and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future.Learn more at renesas.com.Follow us on LinkedIn, Facebook, Twitter, and YouTube.
The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.