Teikoku Tsushin Kogyo Co., Ltd. (JP:6763) has released an update.
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Teikoku Tsushin Kogyo Co., Ltd. has announced the disposal of 81,000 shares of its treasury stock set at 2,393 yen per share, to continue its Stock Benefit Trust for executive compensation. The sale amounts to 193,833,000 yen and represents a minor dilution of 0.82% of the total outstanding shares, avoiding the need for independent third-party opinion or shareholder intent confirmation. The pricing is based on the average closing stock prices prior to the Board’s resolution, deemed reasonable and not unduly favorable.
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