Japan Pulp and Paper Company Limited
Notice Regarding Disposal of Treasury Shares under Stock Compensation Plan
Resolution to dispose of treasury shares under the stock compensation plan. Target: 298,400 shares of the Company's common stock; disposal price: 1,203 yen; total amount: approx. 35.89752 hundred million yen. Transferee: Sumitomo Mitsui Trust Bank (trust account); re-trustee: The Japan Custody Bank. Dilution is 0.25% (0.27% of total voting rights), and the impact on the trading market is expected to be minimal.
Key Figures
- Number of shares to be disposed: 298,400 shares
- Disposal price: 1,203 yen
- Total disposal amount: 358,975,200 yen
AI要約
Overview
At the board of directors meeting held today, a resolution was passed to dispose of treasury shares related to the stock compensation plan. The disposal is part of trust operations under the stock delivery rules introduced in 2017 and targets shares to be granted to directors and others. The disposal is a measure accompanying an extension of the trust period, and the dilution is judged to be reasonable at 0.25% of the total number of issued shares (0.27% of total voting rights).
Impact and Outlook
The transferee is Sumitomo Mitsui Trust Bank (trust account), and the re-trustee is The Japan Custody Bank. It is stipulated that voting rights will not be exercised during the trust period, and the policy aims to enhance shareholder value over the long term. The market impact is expected to be minimal.
Japan Pulp and Paper Company Limited
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