On 28 July 2010, IHI announced that an Extraordinary General Meeting is scheduled to be held on Friday 27 August 2010 in order to approve the recommended capitalisation of reserves in favour of its shareholders by way of a 4% bonus issue (i.e. 1 bonus share for every 25 shares held) to the free float shareholders (7.97% of the total share capital of IHI) which was announced during the Company’s Annual General Meeting held on 23 July 2010. IHI explained that shareholders on the Company’s register as at 31 December 2009 are eligible for this bonus issue.
During the EGM the Directors will also be seeking shareholders’ approval for the Company to buy-back any of the bonus shares from the eligible shareholders at the nominal value of €1.00 per share.
Those shareholders on the Company’s books as at close of trading today 28 July 2010 will be entitled to attend the meeting.