Resorttrust : Notice Concerning Resolution of Matters Associated with Treasury Share Acquisition(Treasury share acquisition based on the Articles of Incorporation pursuant to the provisions of Article 165, Paragraph 2 of the Companies Act)
August 10, 2023 at 02:33 am EDT
Share
August 10, 2023
FOR IMMEDIATE RELEASE
Company name
Resorttrust, Inc.
Representative
Ariyoshi Fushimi, President
Code
4681, First Section of the Tokyo and
Nagoya Stock Exchanges
Notice Concerning Resolution of Matters Associated with Treasury Share Acquisition
(Treasury share acquisition based on the Articles of Incorporation pursuant to the provisions of
Article 165, Paragraph 2 of the Companies Act)
Resorttrust, Inc. ("the Company") hereby announces its decision made at the meeting of the Board of Directors held on August 10, 2023 to acquire treasury shares pursuant to Article 156 of the Companies Act as applied by replacing terms pursuant to the provision of Article 165, Paragraph 3 of the same Act, as described below.
1. Reason for Acquisition of Treasury Shares
To improve shareholder returns and capital efficiency, and enable the flexible execution of capitalization strategies in line with the changes to the management environment.
2. Details of the Acquisition
(1)
Class of shares to be acquired
Common shares
(2)
Total number of shares to be acquired
1,500,000 (maximum)
(1.4% of total shares issued, excluding treasury
shares)
(3)
Total amount to be paid for acquisition
¥3,000,000,000 (maximum)
(4)
Acquisition period
August 21, 2023 to October 31, 2023
(5)
Acquisition method
Market purchase based on discretionary trading contract for
treasury share acquisition
(Reference) Status of treasury share holdings as of June 30, 2023 Total number of shares issued (excluding treasury shares): 107,652,441 Number of shares of treasury stock: 868,358
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Resorttrust Inc. published this content on 10 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2023 06:32:08 UTC.
Resorttrust Inc is a Japan-based company mainly involved in the construction and operation of membership hotels and golf courses, the sale of memberships, as well as medical businesses. The Company operates through three segments. The Membership segment is engaged in the development of membership hotels and the sale of various memberships. The Hotel Restaurant segment is mainly involved in the operation of restaurants and resort hotels under the names XIV, BAYCOURT CLUB, SUN MEMBERS and HOTEL TRUSTY, as well as the provision of hotel cleaning services, and on-life insurance agency services. The Medical segment is engaged in the sale and management of medical memberships, as well as the provision of medical consulting services. In addition, the Company is also engaged in real estate rental business and villa management business.
Resorttrust : Notice Concerning Resolution of Matters Associated with Treasury Share Acquisition(Treasury share acquisition based on the Articles of Incorporation pursuant to the provisions of Article 165, Paragraph 2 of the Companies Act)