GOURMET KINEYA CO.,LTD. [9850.T]
TOKYO, Jun 10 (Pulse News Wire) – Gourmet Kineya CO.,LTD. (9850.T) announced today that its board of directors had approved the issuance of stock options to executives without shareholder approval.
The decision was made based on the authority granted during a meeting held. The stock options will be issued at fair value to the company's directors and those of its subsidiaries. Upon exercise, these options could increase the total number of ordinary shares outstanding by up to 3.24% (representing a voting rights ratio of 3.25%). However, the exercise conditions require achieving certain performance targets, specifically exceeding ¥2.500 billion in operating profit in any fiscal year from March 2027 to March 2031.
The company believes these conditions align with enhancing shareholder value. The stock options will be exercisable from July 1, 2027, through June 30, 2036. Each option grants the right to purchase 100 ordinary shares at a price of ¥941. A total of 7,430 options will be distributed among 13 recipients, though the final allocation may vary depending on application status.
In addition, the company stated that it would acquire all unexercised stock options free of charge under certain circumstances, such as mergers or significant breaches of conduct.
🔴 Confidence: Review recommended AI-translated content.