Tokyo Gas : Decisions on Matters related to Share Acquisition for the Share-based Compensation Plan
July 28, 2021 at 02:13 am EDT
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July 28, 2021
Company:
Tokyo Gas Co., Ltd.
UCHIDA Takashi,
Representative:
Representative Corporate Executive
Officer, President and CEO
(Securities code: 9531, TSE 1 & NSE 1)
Contact:
NAKAJIMA Kei, General Affairs
Group Manager
Press Release
Decisions on Matters related to Share Acquisition for the Share-based Compensation Plan
Tokyo Gas Co., Ltd. (hereinafter, the "Company") resolved at Compensation Committee held on June 29, 2021 plans to introduce a share-based compensation plan for Company directors and corporate executive officers. In addition, it was separately decided to introduce the same share-based compensation plan for executive officers (hereinafter, the share-based compensation plan shall be referred to as "the Plan," the trust set up for introducing this plan shall be referred to as "the Trust," and directors, corporate executive officers and executive officers shall be collectively referred to as "executives.")
At the Compensation Committee, held on July 28, 2021, decisions were made on matters related to acquisition of Tokyo Gas shares, which is to be carried out by the trustee of the Trust. The details are outlined below.
In addition, at the Board of Directors meeting held the same day a resolution was passed to dispose of treasury shares pertinent to the introduction of the Plan. For details refer to notice on "Disposal of Treasury Shares via a Third Party in Tandem with the Introduction of a Share-based Compensation Plan," which was released on July 28, 2021.
1. Overview of the Trust
(1)
Name
Share Delivery Trust for Executives
(2)
Settlor
Tokyo Gas Co., Ltd.
(3)
Trustee
Sumitomo Mitsui Trust Bank, Limited
(Retrustee: Custody Bank of Japan, Ltd.)
(4)
Beneficiaries
Executives who satisfy the beneficiary requirements
(5)
Trust administrator
A third party independent of the Company and its executives is to be
selected
(6)
Exercise of voting rights
The voting rights of shares in the Trust shall not be exercised during
the period of the Trust
(7) Type of trust
Trust of money other than money trust (third-party-benefit trust)
(8)
Trust agreement date
August 16, 2021 (tentative)
(9)
Trust date
August 16, 2021 (tentative)
(10) Trust completion date
August 31, 2024 (tentative)
2. Matters related to share acquisition by the trustee of the Trust
(1)
Class shares to be acquired
Common shares
(2) Money to be put in trust by Tokyo Gas as capital
461,889,900 yen
to acquire shares
(3) Total number of shares to be acquired
224,600 shares
(4)
Method of share acquisition
Acquisition via disposal of treasury shares
(5)
Date of share acquisition
August 16, 2021
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Disclaimer
Tokyo Gas Co. Ltd. published this content on 28 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2021 06:12:04 UTC.
Tokyo Gas Co., Ltd. specializes in production and distribution of natural gas. Net sales break down by activity as follows:
- production and distribution of natural gas (56.9%): 13billion m3 gas distributed in 2019/20;
- electric power distribution (22.4%);
- valves and gas pipes installation services (16.6%);
- real estate leasing (1.2%);
- other (0.5%): energy services, power distribution, natural gas transportation, etc.
The remaining sales (2.4%) are from international activities
TOKYO GAS CO., LTD. 
