Adastria : Notice Concerning Additional Contribution to Performance-Based Stock Compensation Plan for Directors and Acquisition of Additional Shares
October 12, 2023 at 02:13 am EDT
Share
October 12, 2023
To Whom It May Concern,
Company name
Adastria Co., Ltd.
Representative
Osamu Kimura, Representative Director and President
(Securities code: 2685 TSE Prime Market)
Itsuo Iwakoshi, Senior Executive Officer, General
Inquiries
Manager of Administration Division, Head of
Corporate Planning Office
(TEL:03-5466-2060)
Notice Concerning Additional Contribution to Performance-Based Stock Compensation
Plan for Directors and Acquisition of Additional Shares
Adastria Co., Ltd. (the "Company") today announced that the company has resolved (written resolution in lieu of a resolution of the Board of Directors) to make an additional contribution to the BIP Trust ("Trust") established in fiscal 2016 for the performance-linked stock compensation plan ("Plan") established for Company directors (excluding outside directors and non-residents of Japan). This additional contribution conforms to the provisions of Article 370 of the Companies Act and Article 24, Paragraph 2 of the Company's Articles of Incorporation. The Company also announced the acquisition of additional shares of Company stock, another subject of the aforementioned resolution.
See Notice Regarding Continuation and Partial Revision of Performance-Linked Stock Compensation Plan for Directors, published April 19, 2023, for an overview of the performance-linked compensation plan.
1. Additional Contribution and Acquisition of Additional Shares
The Company received approval to continue and partially revise the Plan at the 73rd General Meeting of Shareholders, held on May 25, 2023.
In continuing the Plan, the Company decided to acquire additional Company shares expected to be delivered during the extended trust period through the Trust, and to make an additional monetary contribution to secure funds for the acquisition of said shares in the Trust.
2. Overview of Additional Shares to be Acquired
Period covered by the Plan
Total amount shares to be acquired Share acquisition period Method of share acquisition
Three fiscal years, beginning with the fiscal year ending on February 29, 2024, and extending through the fiscal year ending February 28, 2026
720 million yen (planned)
October 18, 2023 - October 27, 2023 (planned) To be acquired from the stock market
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Adastria Co. Ltd. published this content on 12 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 October 2023 06:12:23 UTC.
Adastria Co Ltd, formerly Adastria Holdings Co Ltd is mainly engaged in the apparel and miscellaneous goods retail business. The domestic product sales business includes casual fashion brands such as Global Work, LOWRYS FARM, LEPSIM, JEANASiS and RAGEBLUE, and lifestyle brands such as nico and ..., studio CLIP and BAYFLOW.It develops e-commerce (EC) specialized brands such as apres jour. It develops fashion apparels for adults under the brands such as Babylon and BARNYARDSTORM. The Company operates its business under the brand Velvet by Graham and Spencer in the United States. The logistics business, goods are received, inspected, stored and shipped. In order to efficiently purchase products when expanding to multiple stores, the Company inspects and stores the received products by the central buying method and ships the products in a timely manner.
ADASTRIA CO., LTD. 
