IR News
【PARK24 Co., Ltd. 】Notification of Treasury Stock Acquisition
(Treasury Stock acquisition in accordance with Article 211-3, Paragraph 1, Item 2 of Commercial Code)
Tokyo, March 23, 2006 - PARK24 Co., Ltd. announced today the acquisition of treasury stock, pursuant to Article 211-3, Paragraph 1, Item 2 of the Commercial Code of Japan, upon the approval of the Board of Directors meeting held today.
1. Reason for the acquisition of treasury stock
Based on the provisions of the Company's Articles of Incorporation, PARK24 is acquiring the treasury stock in order to raise the equity-to-profit ratio and to have mobility and flexibility in its capital policy which should promote alliances and MA.
2. Details of the stock acquisition
| (1) Type of stock to be acquired | PARK24 Co., Ltd. common stock | |
| (2) Number of shares to be acquired | 3,000,000 shares (maximum) | |
| (3) Total acquisition price for the shares | 10 billion yen (maximum) | |
| (4) Treasury stock acquisition period | From March 24, 2006 to October 31, 2006 |
[For reference]
| Treasury stock owned as of February 28, 2006 | |||
| Total outstanding shares (excluding treasury stock) | 71,551,144 shares | ||
| Number of shares in treasury stock | 1,209,908 shares | ||