Company Announcements

Notice of Stock Repurchase through Off-Auction

Source: RNS
RNS Number : 8160Y
Nippon Telegraph and Telephone Corp
13 May 2019
 

May 13, 2019

                  

 

 

 

 

 

 

 

 

Company Name: Nippon Telegraph and Telephone Corporation

 

 

 

 

Representative: Jun Sawada, President and Chief Executive Officer

 

 

 

 

(Code No.: 9432, First section of Tokyo Stock Exchange)

 

Notice of Stock Repurchase through Off-Auction Own Share Repurchase Trading (ToSTNeT-3)

 

Nippon Telegraph and Telephone Corporation ("NTT") has today decided to implement a repurchase of shares of its common stock, which was authorized by a resolution passed at a meeting of its board of directors held on May 10, 2019, pursuant to Article 156 of the Companies Act of Japan, as applied pursuant to Paragraph 3, Article 165 of the Companies Act. Details of the method of repurchase are as follows:

1.          Method of Repurchase:

NTT will place purchase orders for its shares through brokerages on the Tokyo Stock Exchange Trading Network Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) for the 8:45 a.m. session on May 14, 2019 (no changes to the trading system or trading time will be made), at a price equal to the closing price of NTT's common stock on the first section of the Tokyo Stock Exchange on May 13, 2019 (¥4,775).

 

2.          Details of Repurchase:

(1)   Class of shares to be repurchased:                                 Common stock

(2)   Total number of shares to be repurchased:                   15 million shares

(Note 1) The maximum number of shares to be repurchased will not change. Depending on market conditions, however, there is a possibility that NTT will not make any purchase or will only make a partial purchase.

(Note 2) The purchase will be conducted by matching sell orders equivalent to buy orders according to the allocation method prescribed by the Tokyo Stock Exchange.

 

3.          Announcement of the results of Repurchase:

NTT will announce the results of its stock repurchase after completion of the repurchase at 8:45 a.m. on May 14, 2019.

 

(For reference)

Details of the resolution approved at the board of directors' meeting held on May 10, 2019 (as announced on May 10, 2019):

(1) Class of shares to be repurchased:                                  Common stock

(2) Total number of shares to be repurchased:                     Up to 53 million shares

(3) Aggregate repurchase amount:                                       Up to 250 billion yen

 

 

 

 

 

 

For further inquiries, please contact:

 

 

 

Takumi Matsumoto or Takayuki Kimura

 

Investor Relations Office

 

Finance and Accounting Department

 

Nippon Telegraph and Telephone Corporation

 

Contact us by email: 

 

http://www.ntt.co.jp/ir/form_e/ref_contact.html

 

         

 


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