Elpida to Consider Amendments to Articles of Incorporation at June Shareholders' Meeting
TOKYO, JAPAN, May 29, 2009 – Elpida Memory, Inc. (Elpida), Japan's leading global supplier of Dynamic Random Access Memory (DRAM), announced that the Board of Directors today decided to submit proposed amendments to the articles of incorporation to the Ordinary General Shareholders' Meeting scheduled for June 29, 2009.
- Reasons for amendments
(1) Upon enforcement of the Act for Partial Revision of the Act on Book-Entry Transfer of Company Bonds, etc. for Streamlining Settlement Concerning Share Trading, etc. (Act No. 88 of 2004; hereinafter referred to as the "Act for Streamlining Settlement") on January 5, 2009, the book-entry transfer system of stocks became applied to all the stocks of listed companies (i.e. implementation of the so-called dematerialization of share certificates).
Therefore, the Company will delete unnecessary provisions concerning share certificates, beneficial shareholders and registry of beneficial shareholders in the Articles of Incorporation. The Company will newly establish necessary provisions for the registry of lost share certificates in the Supplementary Provision, as such a registry must be prepared and kept for one year from the day following the date of the enforcement of the Act for Streamlining Settlement.
Pursuant to Article 6, paragraph (1) of the Supplementary Provisions of the Act for Streamlining Settlement, the change of the Articles of Incorporation to repeal the provision of Article 7 (Issuance of Share Certificates) of the current Articles of Incorporation has been deemed to be resolved effective January 5, 2009.(2) We hereby propose to amend the wording as necessary, as described in Article 10 (Share Handling Regulations) of proposed Articles of Incorporation, in order to clearly state in the Articles of Incorporation that the procedures for the exercise of shareholders' rights are stipulated in the Share Handling Regulations. - Details of the proposed amendments are attached.
- Schedule of Partial amendments to the Articles of Incorporation
General Shareholders' Meeting for Partial amendments: Monday, June 29, 2009 Effective date of Partial amendments: Monday, June 29, 2009
About Elpida
Elpida Memory, Inc. (Tokyo: 6665) is a leading manufacturer of Dynamic Random Access Memory (DRAM) integrated circuits. The company's design, manufacturing and sales operations are backed by world class technological expertise. Its 300mm manufacturing facilities, consisting of its Hiroshima Plant and a Taiwan-based joint venture, Rexchip Electronics, utilize the most advanced manufacturing technologies available. Elpida's portfolio features such characteristics as high-density, high-speed, low power and small packaging profiles. The company provides DRAM solutions across a wide range of applications, including high-end servers, mobile phones and digital consumer electronics. More information can be found at http://www.elpida.com.
Information in this news release is current as of the timing of the release, but may be revised later without notice.