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May 11, 2006
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Kirin Brewery Announces Application for Delisting from the London Stock Exchange
and Application for Exclusion of its ADRs from NASDAQ
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TOKYO --- Kirin Brewery today announced that, at the meeting of its board of directors held on May 11, 2006, it resolved to apply to delist the Company’s Common Stock from the London Stock Exchange (the “LSE”) and to exclude the Company’s American Depositary Shares (“ADR”) from the U.S. NASDAQ (“NASDAQ”).
The details are as follows.
Description
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1. Reason for delisting
In connection with the Company’s business restructuring plans announced today, the Company aims to rationalize its business through measures such as a reduction of fixed costs, with a view to reallocating its resources to growing businesses and further enhancing synergies within the Kirin Group. As part of such Company’s plans, the Company has decided to maintain the listing of its Common Stock solely on the domestic stock exchanges below.
The Company’s Common Stock will continue to trade in the Japanese market. The Company plans to maintain its ADR program in the U.S., and ADRs are expected to continue to trade through over-the-counter markets. Accordingly, the Company believes that the practical impact that the delisting and the exclusion may have on shareholders and investors is overall limited.
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2. Stock Exchange on which the Company’s shares will continue to be listed:
Tokyo Stock Exchange, Osaka Securities Exchange, Nagoya Stock Exchange,
Fukuoka Stock Exchange, Sapporo Securities Exchange
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3. Planned Schedule:
| The Company plans to apply for delisting from the LSE and exclusion from NASDAQ before the end of May 2006. The expected date for the cancellation of the listing and exclusion will be June 30, 2006, which will mean that the last trading date for the Company’s Common Stock on the London Stock Exchange and its ADRs on NASDAQ will be June 29, 2006.
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4. For ADR holders with any inquiries, please contact:
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JPMorgan Service Center
P.O. Box 3408, South Hackensack, NJ 07606-3408
Tel: 1-800-990-1135
E-mail: adr@jpmorgan.com |
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