Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
February 26, 2021
Company Name: ORO Co., Ltd. Representative: Atsushi Kawata Representative Director & President
Stock Code: 3983 (Tokyo Stock Exchange, First Section)
Contact: Yasuhisa Hino
Senior Managing Director and
General Manager for Corporate Department
TEL: +81-3-5724-7001
Notice of Repurchase of Shares through ToSTNeT-3
(Pursuant to Article 165, Paragraph 2 of the Companies Act)
ORO Co., Ltd. has decided on a specific method of shares repurchase for Notice of Acquisition of Treasury Stock disclosed on February 15, 2021, pursuant to Article 156 of the Corporate Law of Japan after applying the regulations of Article 165, Paragraph 3 of said law. This was resolved at the meeting of the Board of Directors held on February 26, 2021.
Details
1.
Reason for Share RepurchaseThe Company has decided to repurchase shares to strengthen shareholder returns and to improve capital efficiency etc. Also, the Company introduces a restricted stock compensation plan for the Directors of the Board, and restricted stock compensation delivered in the future plans to appropriate this share.
2. Method of Share Repurchase
The Company will place purchase orders for its shares through brokerages on the Tokyo Stock Exchange Trading Network Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) at 8:45 a.m. on March 1, 2021 (no changes to the trading system or trading time will be made), at a price equal to the closing price (including final special quote) of the Company's common stock on the Tokyo Stock Exchange on February 26, 2021 (3,475yen). The above-mentioned purchase orders will be effective only for the trading time specified above.
3.
Details of Share Repurchase
(1) Class of shares to be repurchased | Common stock |
(2) Total maximum number of shares to be repurchased | Up to 500,000 shares (3.01% of the total issued shares (excluding treasury stock)) |
(3) Total maximum repurchase price of shares | Up to 2,000 million yen |
(4) Announcement of result | The acquisition results shall be announced after the close of trading at 8:45 a.m. of March 1, 2021. |
(Note:1) The maximum number of shares to be repurchased will not be changed. Depending on market conditions, however, there is a possibility that the repurchase order will not be implemented in whole or in part.
(Note:2) The repurchase will be conducted to the extent that sell orders match the number of shares to be repurchased.
(Reference)
Details of the resolution of the Board of Directors meeting held on February 15, 2021
(1) Class of shares to be repurchased | Common stock |
(2) Total maximum number of shares to be repurchased | Up to 500,000 shares (3.01% of the total issued shares (excluding treasury stock)) |
(3) Total maximum repurchase price of shares | Up to 2,000 million yen |
(4) Period of acquisition | From February 16, 2021 to March 15, 2021 |
(4) Method of repurchase | Purchase through ToSTNeT Market at the Tokyo Stock Exchange (Scheduled) |
Number of shares of treasury stock (as of December 31, 2020)
(1) Total number of issued share excluding treasury stock | 16,606,122 shares |
(2) Number of shares of treasury stock | 331 shares |