Toell Approves Restricted Share Issuance for Executives and Employees

TOKYO, Aug 04 (Pulse News Wire) – Toell CO.,LTD. (3361.T) announced that its board of directors held on August 04 approved the issuance of restricted shares as part of its equity incentive program.

The issuance involves 72,000 ordinary shares with a total value of ¥63.3 million, payable on August 25, 2026. The shares will be granted to 22 individuals, including 11 executives and 11 employees, at a price of ¥879 per share. The purpose of this issuance is to align executive and employee interests with shareholder value, as decided during a previous board meeting on June 27, 2018. Under the program, executives and employees will contribute their cash compensation rights as capital contributions in exchange for the newly issued shares.

The restrictions on transferring these shares will last for 40 years, ending on August 24, 2066. Additionally, the company clarified that the restricted shares will be managed through special accounts opened at Nomura Securities Co., Ltd. The restrictions will be lifted based on conditions such as continued service until the end of the restriction period or upon retirement due to death, resignation, or reaching retirement age. In cases of organizational restructuring approved by the shareholders' meeting or board, the restrictions may also be lifted earlier according to specific calculation methods outlined in the agreement.