Company Announcements

NOTICE OF STOCK REPURCHASE THROUGH OFF-AUCTION

Source: RNS
RNS Number : 7934L
Nippon Telegraph and Telephone Corp
10 September 2019
 

September 10, 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 August 6, 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 September 11, 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 September 10, 2019 (¥5,126).

 

2.         Details of Repurchase:

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

(2)   Total number of shares to be repurchased:                  53 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 September 11, 2019.

 

(For reference)

Details of the resolution approved at the board of directors' meeting held on August 6, 2019 (as announced on August 6, 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 300 billion yen

 

 

 




For further inquiries, please contact:

 


 

Masayoshi Inoue or Takayuki Kimura

 

Investor Relations Office

 

Finance and Accounting Department

 

Nippon Telegraph and Telephone Corporation

 

Contact us by email: 

 

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

 

 


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