TIS to Cancel Treasury Shares on Aug 31

TOKYO, Jul 30 (Pulse News Wire) – TIS Inc. (3626.T) announced on July 30 that it has resolved to cancel treasury shares based on Article 178 of the Companies Act.

The decision was made during a board meeting held on July 30. The cancellation is aimed at addressing concerns over potential dilution of shares.

According to the company's policy, it holds treasury shares up to a limit of 5% of the total outstanding shares, and any excess holdings beyond this threshold are subject to cancellation. The board approved the cancellation of ¥50.00 billion equivalent shares acquired previously.

Details of the cancellation include: - Type of shares: Ordinary shares - Total number of shares to be canceled: 13,700,000 (representing 6.0% of the pre-cancellation outstanding shares) - Scheduled cancellation date: August 31, 2026 Post-cancellation figures show: - New total outstanding shares: 214,700,000 - Remaining treasury shares: 3,710,865 (equivalent to 1.7% of the post-cancellation outstanding shares) (Note: The remaining treasury share count excludes shares held by the TIS Intec Group Employee Holding Trust and the Executive Compensation BIP Trust.).