Glory : Notice regarding additional contribution to the Employee Stock Ownership Plan (“ESOP”)
August 05, 2022 at 02:21 am EDT
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(TRANSLATION FOR REFERENCE ONLY) August 5, 2022
News Release
Company name:
GLORY LTD.
Representative:
Motozumi Miwa, President
Headquarters:
3-1, Shimoteno 1-chome,
Himeji,
Hyogo, JAPAN
Securities Code:
6457
Stock Exchange:
Tokyo Prime
Accounting Term:
March
Notice regarding additional contribution
to the Employee Stock Ownership Plan ("ESOP")
As resolved at its board of directors meeting held today, GLORY LTD. (the "Company") hereby notifies of additional contribution of money to the trust, as well as additional acquisition of the Company's shares for the Employee Stock Ownership Plan (the "ESOP", and the trust set op for the ESOP refers to as the "Trust").
Outline of ESOP and additional contribution to the Trust
In 2015, the Company introduced the ESOP for executive officers and other management employees of the Company (collectively "Senior Managers") with the aim of further improving the Company group's business performance over the medium to long term and enhancing the incentives for them to improve its corporate value. Under the ESOP, certain numbers of shares of the Company and the cash conversion equivalent thereof is distributed to Senior Managers as compensation. Last year, the Company continued the ESOP for another three fiscal years (FY2021-2023) and the Trust period was extended accordingly for three years.
Details of the Trust and additional contribution etc. are as follows;
Trust contract date
August 28, 2015
Trust Period
August 28, 2015 to August 31, 2024 (planned)
Amount of additional contribution of
¥610 million
money to the Trust
From August 12, 2022 to November 30, 2022 (planned)
Share acquisition period
No purchase will be made within five business days
immediately before the last day of accounting period.
Share acquisition method
Acquisition from the stock market
(NOTE)
The Company has also extended the trust period of the "Board Incentive Plan" for three years, which is a stock-based incentive plan for Directors who are not Audit & Supervisory Committee Members of the Company (excluding Outside Directors) and the president of the Company's subsidiaries introduced in 2015.
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(TRANSLATION FOR REFERENCE ONLY)
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About GLORY LTD.
GLORY LTD., headquartered in Himeji, Japan, is a pioneer in the development and manufacture of money handling machines and systems. GLORY provides a variety of products such as money handling machines, cash management systems, vending machines, automatic service equipment, and cash management solutions that are built on its leading-edge recognition/identification and mechatronics technology. Committed to meet society's wide-ranging needs, GLORY serves the financial, retail, vending machine, amusement and gaming industries in over 100 countries around the world. GLORY has approximately 11,000 employees worldwide. For more information about GLORY, please visit GLORY Group website at https://www.glory-global.com/
Contact:
Takatoshi Minamiyama
General Manager,
Corporate Communications Dept.
Management Strategy Headquarters
Tel: +81-79-297-3131
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Disclaimer
GLORY Ltd. published this content on 05 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2022 06:20:02 UTC.
Glory Ltd is a Japan-based company mainly engaged in the manufacture, sale and maintenance of currency processing equipment, and the provision of electronic payment services and face recognition solutions. The Company has four business segments. Financial Market segment is engaged in the sale and maintenance of products to domestic financial institutions, original equipment manufacturer (OEM) and others. Distribution and Transportation Market segment is engaged in the sale and maintenance of products to domestic supermarkets, department stores, security transport companies, railway companies, tobacco manufacturers, hospitals, local governments and companies. Amusement Market segment is engaged in the sale and maintenance of products to domestic amusement halls. Overseas Market segment is engaged in the sale and maintenance of products to overseas financial institutions, security transport companies, retail stores, casinos and OEMs. It also provides unmanned payment system solutions.