Megmilk Snow Brand : 【Delayed】Notice on Finalization of Matters Concerning Stock Acquisition for the Performance-based Stock Compensation System
August 28, 2020 at 03:02 am EDT
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Company name: MEGMILK SNOW BRAND Co., Ltd. Representative: Keiji Nishio, Representative Director and President
(Stock code: 2270, TSE 1st Section/SSE)
Contact: Kentaro Watanabe General Manager
Public Relations & Investor Relations Department (Phone: +81-3-3226-2124)
August 12, 2020
Notice on Finalization of Matters Concerning Stock Acquisition for the Performance-based Stock Compensation System
At the Board of Directors Meeting convened on May 13, 2020, the Megmilk Snow Brand voted to adopt a performance-based stock compensation system (hereinafter, System, and any trust established in relation to the adoption of this System shall be referred to as the Trust), to be applied to Company directors (excluding directors who are Audit and Supervisory Committee Members and outside directors) and executive officers (hereinafter collectively referred to as Directors, etc.). The adoption of this System for Company directors was approved during the 11th Annual General Meeting of Shareholders convened on June 24, 2020. At the Board of Directors meeting convened today, the Board voted on matters concerning the acquisition of Company stock by Trustee. Details are as outlined below.
1. Trust overview
(1)
Name
Stock allocation trust for directors
(2)
Consignor
Megmilk Snow Brand Co., Ltd.
(3)
Trustee
Sumitomo Mitsui Trust Bank, Limited
(Retrust trustee: Custody Bank of Japan, Ltd.)
(4)
Beneficiaries
Directors, etc. fulfilling beneficiary requirements
(5)
Trust administrator
Plan to select a third-party that is independent of the Company and
Company officers
(6)
Exercising voting rights
No exercising of voting rights related to Company stock retained by
2. Matters concerning acquisition of Company stock by Trust trustee
(1) Type of stock acquired
Common stock
(2) Amount entrusted by Company
388,000,000 yen (maximum)
as stock acquisition capital
(3) Total number of shares to be
161,100 shares (maximum)
acquired
(4)
Stock acquisition method
To be acquired through exchange market transactions
(5)
Stock acquisition timing
August 20, 2020 (Thurs.) to September 4, 2020 (Fri.)
(planned)
This document has been translated from a part of the Japanese original for reference purposes only. In the event 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 the translation.
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MEGMILK Snow Brand Co. Ltd. published this content on 28 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 August 2020 07:02:02 UTC
MEGMILK SNOW BRAND Co., Ltd. is a company mainly engaged in the dairy products and beverage business. The Company operates in three business segments. The Dairy Product segment is engaged in the manufacture and sale of cheese, butter, dry milk and other dairy products, margarine and other fat and oil products, as well as baby milk powder and other baby care supplies. The Drink and Dessert segment is engaged in the manufacture and sale of beverage such as milk and fruit juice and others, yoghurt and dessert, among others. The Feed and Seed segment is engaged in the manufacture and sale of cattle feed, seed of grass and feed crop, as well as vegetable seed. The others business is engaged in the rental of real estate and the operation of cooperative distribution centers.
MEGMILK SNOW BRAND CO.,LTD. 
