SPARX : Notice on Decision-made Related to Acquiring Share for Stock Compensation System
July 29, 2022 at 04:45 am EDT
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The following is an English version of the official Japanese announcement, which has been given to the Tokyo Stock Exchange and the media in Tokyo, Japan.
July 29, 2022
For Immediate Release
SPARX Group Co., Ltd.
President and Group CEO Shuhei Abe
(Code: 8739, TSE Prime Market)
Notice on Decision-made Related to Acquiring Share for Stock
Compensation System
TOKYO-July 29, 2022-SPARX Group Co., Ltd. (the "Company") would like to inform you that the Board of Directors, at its meeting held today, decided on the matters relating to the acquision of our shares to be carried out by the trustee of the Trust. It was voted to implement stock compensation system (the "System") for the Company's non-Audit and Supervisory Committee directors (excluding outside directors; hereinafter, "Director" refers to non-Audit and Supervisory Committee directors who are not outside directors) back in May 6th, 2022. The Company also decided to submit a proposal regarding this System's implementation at its 33rd Ordinary General Meeting of Shareholders of the Company, held on June 10, 2022 (the "General Shareholders' Meeting") and this proposal was approved on that day. The details are outlined below.
１．Outline of the Trust
1.
Name
Stock grant trust for directors
2.
Trustor
SPARX Group Co., Ltd.
3.
Trustee
Sumitomo Mitsui Trust Bank, Limited
(Secondary trustee：Custody Bank of Japan, Ltd.)
4.
Beneficiaries
Company directors who satisfy the beneficiary requirements
5.
Trust administrator
Plan to elect a third party independent from the Company and its
directors
6.
Exercising voting rights
The Trust shall not exercise the voting rights for the shares in the Trust
during the trust period
7.
Type of trust
Non-monetary trust for cash and other assets (a third-party-benefit trust)
8.
Trust agreement date
August 17, 2022
9.
Trust starting date
August 17, 2022
10. Trust ending date
August-end, 2029 (provisional)
２．Matters related to share acquision by the trustee of the Trust
1.
Type of shares to be acquired
Common stock
2. Amount that the Company trust to fund the
845,600,000 yen
acquisition of shares
3.
Total number of shares to be acquired
2,800,000 shares
4.
Method of acquiring Company's shares
Disposal of Company's treasury stock
5.
Date of stock acquisition
August 17, 2022
The following is an English version of the official Japanese announcement, which has been given to the Tokyo Stock Exchange and the media in Tokyo, Japan.
For inquiries related to this release, contact:
SPARX Group Co., Ltd., Finance & Management Control Dept. Tel: 81-3-6711-9100 / Fax: 81-3-6711-9101
No further entry
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Sparx Group Co. Ltd. published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 08:44:05 UTC.
SPARX Group Co., Ltd. is a Japan-based holding company mainly engaged in the asset management business. The Company is engaged in the asset management business for clients, including corporate pension annuities, government entities, private and trust banks and public pension funds; the provision of investment advisory services; the operation of mutual fund business, which includes the provision of various mutual funds to financial institutions and individual investors directly or through brokerage houses, banks and other intermediaries in Japan, Europe and the United States, as well as the securities business, including the provision of advisory services for investors. Through its subsidiaries, the Company is also engaged in the research and operation of foreign stocks, including Japanese, Korean and other Asian stocks.
SPARX GROUP CO., LTD. 
