Konami Holdings Corporation Notice on Repurchase of Shares (6871H)

TIDMKNM

RNS Number : 6871H

Konami Holdings Corporation

26 March 2020

 
                                        March 26, 2020 
 
 FOR IMMEDIATE RELEASE 
                    KONAMI HOLDINGS CORPORATION 
                    Takuya Kozuki, Representative 
                     Director, President 
   Shares listed:   Tokyo and London Stock Exchanges 
 
         Contact:   Junichi Motobayashi, Corporate 
                     Officer, General Manager, Finance 
                     and Accounting 
             Tel:   [phone] 
 
 
                      Notice on Repurchase of Shares 
    through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) 
 (Repurchase of Shares pursuant to Provisions of Articles of Incorporation 
     in accordance with Article 165, Paragraph 2 of the Companies Act) 
 

KONAMI HOLDINGS CORPORATION (the "Company") hereby announces that its Board of Directors has resolved, at a Board of Directors' meeting held on March 26, 2020 , that the Company will repurchase its own shares pursuant to the provision of Article 156 of the Companies Act, as applied pursuant to the provision of Article 165, Paragraph 3 thereof, and its specific method as below.

1. Reason for Share Repurchase

The Company has decided to repurchase its own shares in order to strengthen shareholder returns and carry on flexible capital policies as part of its efforts to improve capital efficiency and address changes in business environment .

2. Method of Share Repurchase

The Company will place purchase orders through brokerages on the Tokyo Stock Exchange Trading Network Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) at 8:45 a.m. on March 27, 2020 (no changes to other trading system or trading time will be made), at a price equal to the closing price (including final special quote) of the Company's common stock on the Tokyo Stock Exchange on March 26, 2020 (3,225 yen). The above-mentioned purchase orders will be effective only for the trading time specified above.

3. Details of Share Repurchase

 
 (1)   Class of shares to be          Common stock 
        repurchased 
 (2)   Total maximum number           Up to 2,800,000 shares 
        of shares to be repurchased    (2.07% of the total issued 
                                       shares (excluding treasury 
                                       shares)) 
 (3)   Total maximum repurchase       Up to 8 billion yen 
        price of shares 
 (4)   Date of repurchase             March 27, 2020 
 (5)   Announcement of result         The Company will announce the 
                                       result of the repurchase after 
                                       completion of the repurchase 
                                       at 8:45 a.m. on March 27, 2020. 
 

(Note:1) The maximum number of shares to be repurchased will not be changed. The repurchase order may not be implemented, in whole or in part, depending on market conditions and other factors.

(Note:2) The repurchase will be conducted to the extent that sell orders match the number of shares to be repurchased.

(Note:3) Based on the closing price of 3,225 yen on March 26, 2020, the total number of shares to be repurchased will be up to 2,480,600 shares.

4. Others

Sumitomo Mitsui Banking Corporation has indicated to the Company that it has the intention

to sell 2,017,000 shares of common stocks held by it.

(Reference)

Status of Treasury Shares as of February 29, 2020

 
 Total issued shares (excluding   135,232,363 shares 
  treasury shares ): 
 Number of treasury shares:       8,267,637 shares 
 

End of File

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

POSJFMPTMTMTMJM

(END) Dow Jones Newswires

March 26, 2020 04:06 ET (08:06 GMT)