Open House : Notice regarding Acquisition of Treasury Shares through Off-Auction Own Share Repurchase Trading (ToSTNeT-3)
May 23, 2022 at 01:26 am EDT
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[Translation for Reference Purpose Only]
May 18, 2022
To All Concerned Parties
Company Name:
Open House Group Co., Ltd.
Representative:
Masaaki Arai, President and CEO
Securities code:
3288, TSE
Contact:
Kotaro Wakatabi, Senior Managing Director and CFO
Notice regarding Acquisition of Treasury Shares
through Off-Auction Own Share Repurchase Trading (ToSTNeT-3)
Open House Group Co., Ltd. (the "Company") hereby announces that, with respect to the acquisition of treasury shares resolved at its Board of Directors meeting held on May 13, 2022 pursuant to the provisions of Article 165, paragraph 3 of the Companies Act, the specific method of acquisition has been determined, as detailed below.
1. Method of the acquisition
The Company will acquire its treasury shares through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) of Tokyo Stock Exchange ("TSE") at 8:45 AM on May 19, 2022, for ¥ 4,935 per share, which is the closing price on May 18, 2022 at TSE. The purchase order is limited to the said trading time.
2. Details of the acquisition
(1)
Type of shares to be acquired
Common shares
(2)
Total number of shares to be acquired
3,040,000 shares (maximum)
(3)
Total amount for share acquisition
¥ 15,002,400,000 (maximum)
(4)
Announcement of results of the acquisition
Results of the acquisition will be announced after
the completion of the transaction at 8:45 AM on
May 19, 2022
(Note 1) The number of shares to be acquired will not be changed. However, depending on market trends, it may not be possible to acquire some or all of the shares.
(Note 2) Purchases will be conducted subject to the sell orders corresponding to the number of shares to be acquired
(Note 3) The cost of share acquisition is based on the closing price on May 18, 2022 at TSE (¥ 4,935) and number of shares to be acquired, which is shown in (2) above.
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3. Note
The Company has been informed by Masaaki Arai, who is the President and CEO of the Company that he intends to sell some of his holding (2,190,000 shares) of the Company's common shares in order to minimize the impact caused by the acquisition of treasury shares which was approved by the Board of Directors meeting held on May 13, 2022 on the market. The number of shares is equivalent to 36.03% (his shareholding as a percentage of the total number of shares issued as of March 31, 2022, excluding treasury shares) of the total number of 6,079,000 shares that could be acquired in the share acquisition resolved on May 13, 2022, based on the total acquisition price of 30,000 million yen and the closing price on May 18, 2022 at TSE, which is 4,935 yen.
(Reference)
1. Details of the resolution approved at a meeting of the Board of Directors held on May 13, 2022
(1)
Type of shares to be acquired
Common shares
(2)
Total number of shares to be acquired
7,500,000 shares (maximum)
(5.94% of total number of shares outstanding)
(3)
Total amount for share acquisition
¥ 30 billion (maximum)
(4)
Acquisition period
May 16, 2022 to September 30, 2022
(5)
Acquisition method
(i) Purchases through Off-Auction Own Share
Repurchase Trading (ToSTNeT-3) of the Tokyo
Stock Exchange
Open market purchases on the Tokyo Stock Exchange
2. Total number and value of shares acquired pursuant to the above resolution (as of May 18, 2022)
(1)
Total number of shares to be acquired
0
(2)
Total cost of share acquisition
0
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Disclaimer
Open House Co. Ltd. published this content on 23 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 May 2022 05:25:00 UTC.
Open House Group Co Ltd is a Japan-based company primarily engaged in the real estate related business. The Company operates through four business segments. The Detached Houses segment is engaged in the brokerage (open house), city center detached house sales (open house development), construction contract (open house architect), and quasi-city center detached house sales (Hawk One). The Profitable Real Estate Business segment is engaged in the acquisition, operation, sales of domestic profitable real estate. The Condominium Business segment is engaged in the development and sales of new condominiums. It works on compact type and family type condominiums mainly in the central areas of Tokyo, Nagoya and Fukuoka areas. The Other segments include mortgage business, financial services business, real estate market analysis and real estate sales in the United States.
OPEN HOUSE GROUP CO., LTD. 
