ANA & JP Express Announces
the Third Party Allotment of New Shares
April 27, 2006
TOKYO April 27, 2006 ANA & JP Express (AJV), a new joint-venture cargo airline, announced today that investment by All Nippon Airways (ANA), Japan Post, Nippon Express and Mitsui O.S.K. Lines (MOL)was completed and shares allotted at an extraordinary shareholders meeting convened on April 25, 2006,
Details are as follows:
Outline of newly issued shares
1)No of shares:1,770 common stock
2)Issuing price:50,000 yen
3)Allottee and no. of shares allocated:
ANA Japan Post Nippon Express MOL total No of shares 552 840 252 126 1,770
Details of AJV after allocation:
1)No of shares:2,370 common stock
Capital reserve:44,250,000 yen
3)Shareholding after new share issue
ANA Japan Post Nippon Express MOL total No of shares 1,152 840 252 126 2,370 Shareholding 48.61% 35.44% 10.63% 5.32% 100.00%
From August 1 this year, Air Japan (a wholly owned subsidiary of ANA) will spin off its freighter operations to AJV. To reflect this, the composition of AJV will change as follows:
1)No of issued shares:2,520 common stock
Capital reserve:46,000,000 yen
3)Shareholding after spin off:
ANA Japan Post Nippon Express MOL total No of shares 1,302 840 252 126 2,520 Shareholding 51.67% 33.33% 10.00% 5.00% 100.00%
- Planned Operations in Outline
Subject to completing legal formalities, AJV plans to commence operations in August 2006. AJV will operate ANA's fleet of cargo freighter aircraft, in accordance with an agreement between AJV and ANA, mainly to Shanghai and the rest of China. In addition, AJV will also commence services to Chicago in the autumn of this year.
ANA's freighter fleet currently comprises three Boeing 767-300F aircraft.
It will take delivery of a fourth 767-300F in the autumn.