TOKYO, Apr 14 (Pulse News Wire) – Demae-can Co.,ltd (2484.T) announced today that its board of directors held, resolved to issue paid stock options (subscription rights). Three directors who abstained from participating in the resolution due to potential conflicts of interest will receive these options based on fair pricing without special advantages.
The subscription rights aim to enhance long-term performance and corporate value by boosting director morale and aligning interests with existing shareholders. The exercise conditions for these subscription rights require the company's consolidated quarterly sales revenue to exceed ¥11.90 billion during fiscal quarters from August 2027 to August 2030. Upon full exercise, the total number of ordinary shares would increase by 1.96% compared to the current issuance of 112,380,430. However, the company believes this impact is reasonable since the exercise depends on achieving predetermined performance targets. In detail, three directors will collectively receive 22,080 subscription rights, each entitling them to 100 ordinary shares upon exercise.
The grant price per subscription right is set at ¥600, determined through a Monte Carlo simulation by Plutus Consulting considering market data. Exercise prices will adjust according to share splits or mergers, ensuring alignment with shareholder interests. Subscription rights can be exercised from May 1, 2028, to April 30, 2031, contingent on meeting cumulative quarterly sales targets. Each quarter exceeding the target allows partial exercise up to certain limits defined in the agreement. Additional restrictions apply to ensure fair execution and prevent unauthorized transfers.
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