LOOK HOLDINGS INCORPORATED [8029.T]
TOKYO, Apr 24 (Pulse News Wire) – Look Holdings Incorporated (8029.T) resolved today to issue new shares as part of its restricted stock award program. The issuance, scheduled for May 22, involves 22,400 ordinary shares with a par value of April 24, 2026 per share, totaling May 22, 2026.
The purpose of this issuance is to provide long-term incentives to key executives and promote shareholder value alignment. Under the program introduced in February 2018, non-outsider directors received monetary compensation bonds up to 60 million yen annually, which could be converted into restricted shares. In March 2022, shareholders approved extending the restriction period until the recipient leaves their position within the company or its subsidiaries.
This latest issuance follows the conversion of total monetary compensation bonds worth [TICKER_0] into shares. The shares will be managed through a special account opened at Nomura Securities during the restriction period, ensuring compliance with the agreement's conditions. Upon expiration of the restriction period, shares will either be freely tradable or returned to the company without charge based on predefined criteria.
The issuance price was determined based on the closing price of Look Holdings' ordinary shares on the Tokyo Stock Exchange on April 23, February 13, 2018, ensuring fairness and transparency in valuation.
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