Penta Ocean Construction : Notice regarding Decision on Matters related to Repurchase of Own Shares
May 10, 2024 at 02:14 am EDT
Share
May 10, 2024
Listed company: Penta-Ocean Construction Co., Ltd.
Code number: 1893
Stock exchange: Prime market of the Tokyo Stock Exchange,
Premier Market of the Nagoya Stock Exchange
Notice regarding Decision on Matters related to Repurchase of Own Shares
Penta-Ocean Construction Co., Ltd. (hereinafter, the Company) hereby announces that at the Board of Directors Meeting held on May 10, 2024, the Company resolved the matters related to the repurchase of its own shares in accordance with Article 156 of the Companies Act, as applied by replacing certain terms pursuant to the provisions of Article 165, Paragraph 3 of the said Act, as described below.
1. Reason for the repurchase of own shares
To strengthen the management base aiming for future corporate growth by capital enhancement, to improve profitability and increase corporate value through investment in technology development and in capital expenditures, and to enhance shareholder returns and improve capital efficiency through share repurchases in addition to provision of continuous and stable dividends to shareholders
2. Details of matters related to the repurchase
(1) Type of shares to be acquired:
The common stock of the Company
Total number of shares to be acquired: 3,300,000 shares(upper limit) (equivalent to 1.2% of total number of shares issued excluding treasury stock)
(3)
Total amount of acquisition:
JPY 2,000,000,000(upper limit)
(4)
Acquisition period:
May 13, 2024 through August 30, 2024
(5)
Acquisition method:
Market purchases on the Tokyo Stock Exchange
(Reference)
Status of holdings of treasury stock as of March 31, 2024
Total number of shares issued (excluding treasury stock)
284,856,749 shares
Number of treasury stock1,157,161 shares
(Note: Number of treasury stock includes 945,400 shares of the Company's stock held by the Boart Benefit Trust (BBT)
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Penta-Ocean Construction Co Ltd is a Japan-based company mainly engaged in the construction and development business, equipment leasing business and shipbuilding business, as well as the sale of construction materials. The Company operates in four business segments. The Domestic Civil Engineering segment conducts civil engineering works in the domestic markets. The Domestic Construction segment conducts construction works in the domestic markets. The Overseas Construction segment is involved in the provision of construction works in overseas markets. The Others segment engages in the independent development, sales and rental of real estate.
PENTA-OCEAN CONSTRUCTION CO., LTD. 
