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TOKYO, Dec 11, 2018 - (JCN Newswire) - At its Board of Directors' meeting held on December 11, 2018, Showa Denko resolved to repurchase its own shares pursuant to Article 156 and Article 165, Paragraph 3 of the Companies Act of Japan, as outlined below.
1. Purpose of Repurchase
To enhance the return to shareholders, improve capital efficiency and implement agile capital policies corresponding to changes in the business environment.
2. Details of Repurchase
(1) Class of shares to be repurchased: Common shares
(2) Total number of shares to be repurchased: Up to 3.0 million (2.02% of total shares outstanding, excluding treasury stock)
(3) Total amount of repurchase: Up to 10 billion yen
(4) Period of repurchase: From December 12, 2018 to March 22, 2019
(Reference) Status of own shares as of June 30, 2018
Total number of shares outstanding (excluding treasury stock): 1,488,813,137
Number of treasury stock shares: 898,155
Note: not including 288,400 shares of treasury stock which the Board Benefit Trust (BBT) has hold.
Contact:
Showa Denko K.K. Public Relations Office, Tel: +81-3-5470-3235.
Topic: Press release summary
Source: Showa Denko K.K.
Sectors: Chemicals, Spec.Chem
https://www.acnnewswire.com
From the Asia Corporate News Network
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