AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
The Tokyo Electric Power Company, Incorporated (TEPCO), Toshiba Corporation (Toshiba), and the Japan Bank for International Cooperation (JBIC) announced on February 10th 2009 that a joint investment in Uranium One Inc. (U1), a major, Canadian-listed producer and marketer of uranium. TEPCO, Toshiba and JBIC have agreed to subscribe to a new share issue of 117 million shares in U1, at a price of Cdn$2.30 per share, equal to approximately Cdn$270 million (about $179,145,000 USD) in total. Concurrently, TEPCO, Toshiba and JBIC have also signed a strategic relationship agreement (SRA) with U1, and a Uranium Offtake Agreement.
The full share issue will be taken up by Japan Uranium Management Inc. (JUMI), a special purpose entity established by the three Japanese companies in British Columbia, Canada. Once JUMI completes the transaction, U1's outstanding shares will total 586.61 million, and JUMI will have a holding of about 19.95%. TEPCO and Toshiba will each hold 40% of JUMI's shares, and JBIC will hold 20%.
⚑ Please report this page in case you detect an inaccuracy in its content.