— Mitsubishi Motors Corporation, at a special meeting of the Board of Directors, today resolved to issue 4th series, Class G preferred shares in a 3rd party allocation. Details of the issuance are as follows:
< 4th Series, Class G Preferred Shares >
| Share Issuance |
30,000 shares |
| Capital Amount |
30 Billion Yen |
| Recipient |
Mitsubishi Corporation |
| Subscription Date |
January 30, 2006 |
This issuance of preferred shares is part of Mitsubishi Motors' capital raising plans as outlined in the Mitsubishi Motors Revitalization Plan, a management plan covering the period through fiscal 2007, which was announced on January 28, 2005. As noted in the management plan, this capital injection was scheduled to occur during fiscal 2005. The capital will be used for research & development, capital expenditures, and other capital needs.
With this issuance, Mitsubishi Motors has now completed its non-borrowing related capital raising plans as outlined in the Mitsubishi Motors Revitalization Plan.
