HIROSE ELECTRIC CO.,LTD. [6806.T]
TOKYO, May 29 (Pulse News Wire) – Hirose Electric CO.,LTD. (6806.T) announced today that its board of directors, held, resolved to destroy shares based on the company's share purchase policy outlined on January 30, 2018.
The decision to destroy shares stems from the company’s basic policy on holding and destroying own shares, which stipulates that holdings should not exceed a certain percentage of the total outstanding shares. As such, HIROSE ELECTRIC plans to destroy part of its existing own shares.
Details of the destruction include: - Type of Shares: Ordinary shares of Hirose Electric CO.,LTD. - Number of Shares to Destroy: 1,000,000 (representing approximately 0.25% of the total outstanding shares prior to destruction) - Scheduled Destruction Date: June 5, 2026 Following the destruction, the expected number of outstanding shares will be 400,000,000, while the anticipated remaining own shares will be 1,000,000.
It is noted that the figure does not include shares held by trusts related to employee incentive programs and executive stock compensation schemes, totaling 500,000 shares.
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