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Technology Stocks : SANYO Electric Co., Ltd. -- Ignore unavailable to you. Want to Upgrade?

To: kinkblot who wrote (6)	2/24/2006 2:53:51 PM
From: kinkblot	Read Replies (1) \| Respond to of 8

Sanyo Shareholders Approve Recapitalization Plan reported on WSJ.com By ANDREW MORSE February 24, 2006 8:14 a.m. TOKYO – Shareholders of ailing Sanyo Electric Co. approved on Friday a complex, ¥300 billion ($2.6 billion) recapitalization plan that makes U.S. brokerage house Goldman Sachs Group Inc. one of the biggest investors in the company. online.wsj.com The number of common shares outstanding will more than triple if all of the new preferred shares are fully converted. There are currently about 1.85 billion common shares oustanding (1 ADS represents 5 common shares); each of the 429 million preferred shares will be convertible into 10 common shares for a total of 4.29 billion new shares. Current shareholders' stake will be "massively reduced" to about 30% ownership.