Notice Regarding Reset of Conversion Price for Zero Coupon Convertible Bonds due 2022
KYUSHU ELECTRIC POWER COMPANY, INCORPORATED hereby announces the reset of conversion price for the Zero Coupon Convertible Bonds due 2022 (the "Bonds").
1. Reset of Conversion Price
| Name of issue | Conversion Price before the reset | Conversion Price after the reset |
| Zero Coupon Convertible Bonds due 2022 | ¥1,354.6 | ¥1,220 |
2. Effective date
July 9, 2021
3. Reason for the reset
Reset of Conversion Price of the Bonds pursuant to the Conditions of the Bonds, due to the fact that the average of the Closing Price of the Shares for 30 consecutive Trading Days up to and including the Reset Calculation Date (June 30, 2021), rounded upwards to the nearest one yen, was at least one yen less than the Conversion Price in effect on the Reset Calculation Date; provided, however, that the Conversion Price shall not be reset as a result of such calculation to below the Floor Reset Price (¥1,220), and where the Conversion Price would, but for this proviso, be reduced to less than the Floor Reset Price, the revised Conversion Price shall be the Floor Reset Price.
