Central Glass : Notice of Determination of Matters Relating to Acquisition of Shares for Performance-Based Stock Compensation Plan(98KB)
August 04, 2023 at 04:08 am EDT
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August 4, 2023
Central Glass Co., Ltd.
Note: This document is a translation of the Japanese original for reference purposes only. In case of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from or in connection with the translation.
Notice of Determination of Matters Relating to Acquisition of Shares
for Performance-Based Stock Compensation Plan
At the meeting of the Board of Directors held on May 11, 2023, we resolved to introduce an equity compensation plan for our directors, excluding outside directors, and executive officers who have entered into an entrustment agreement with us (the "Plan" and the trust established for the introduction of the Plan are referred to as the "Trust"). The introduction of the Plan to our directors was approved at the 109th Ordinary General Meeting of Shareholders held on June 29, 2023. At the meeting of the Board of Directors held today, we resolved on the matters concerning the acquisition of our shares by the trustee of the Trust, and we hereby announced as follows.
1. Outline of the Trust
(1)
Name
Director Trust
(2) Trustor
The Company
(3)
Trustee
Sumitomo Mitsui Trust Bank, Ltd.
(Sub-trustee: Japan Custody Bank, Ltd.)
(4) Beneficiary
Directors, etc. who satisfy the requirements for beneficiaries
(5)
Trust administrator
A third party independent of the Company and its executives will be
selected
(6)
Exercising voting right
No voting rights relating to shares in the Trust have been exercised
throughout the term of the Trust.
(7) Type of Trust
Money trusts other than money trusts of the type of trust (other profit
trusts)
(8)
Trust Contract Date
August 22, 2023
(9)
Cash Entrustment Date
August 22, 2023
(10) Trust Termination Date
The end of August 2028 (planned)
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2. Matters relating to acquisition of Company shares by the trustee of the trust
(1) Type of shares to be acquired
Common stock
(2) Amount of money to be entrusted by the
367,760,100 yen
Company to fund the acquisition of shares
(of which 192,000,000 yen, at maximum, for Directors
of the Company)
(3) Total number of shares to be acquired
123,700 shares
(4)
Method of share acquisition
Disposal of Treasury Stock
(5)
Period of share acquisition
August 22, 2023
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Central Glass Co. Ltd. published this content on 04 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 08:07:32 UTC.
Central Glass Co.,Ltd. is a Japan-based company mainly engaged in manufacturing and sales of glass products and chemical products. The Company operates in two segments. The Glass Products segment is engaged in manufacturing and sales of building glass, automobile glass and glass for electronic materials. The Chemical Products segment is engaged in manufacturing and sales of chemicals, fine chemicals, fertilizers, glass fibers. The Company mainly operates in Japan, North Americas and other areas.