HARD OFF CORPORATION Co.,Ltd. [2674.T]
TOKYO, May 25 (Pulse News Wire) – Hard OFF Corporation CO.,LTD. (2674.T) updated its share buyback defense plan ahead of its upcoming shareholders' meeting scheduled for June.
The revised plan, approved by three independent outside directors, aims to protect the company's value and shareholder interests against potential hostile takeovers. As of March 31, the company’s executives hold a combined stake of 37.7% percent, with the chairman holding 37.1% percent through affiliated entities.
The plan includes setting up a special committee to review large-scale share purchases and ensure fair procedures, requiring buyers to disclose extensive information and allowing time for due diligence. The updated measures also mandate adherence to specific rules during large-scale purchase negotiations to safeguard corporate governance and shareholder rights.
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