Yamaha 2008 Annual Report Download - page 90

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88 Yamaha Corporation
24. SUBSEQUENT EVENTS
The Board of Directors, at a meeting held on April 30, 2008, approved a resolution for the acquisition of the Company’s own shares
pursuant to Articles 156 and 165-3 of the Corporation Law of Japan. The details of this resolution are summarized as follows:
(1) Purpose of the acquisition of the Company’s shares
The acquisition of the Company’s own shares is to be conducted to enhance the return to shareholders of the Company in
connection with a sale of a portion of the Company’s holdings in Yamaha Motor Co., Ltd. which was conducted in May 2007.
(2) Details of the acquisition
(a) Type of shares to be acquired: Shares of common stock
(b) Total number of shares to be acquired: 10 million (maximum)
This represents 4.8% of the aggregate number of shares of common stock in issue (excluding treasury stock).
(c) Total amount of shares to be acquired: ¥18.0 billion ($179,659 thousand) (maximum)
(d) Period for the share acquisition: From May 1, 2008 through September 30, 2008
(3) Other
All of the shares acquired will be retired.
(Reference)
Shares of common stock held in treasury by the Company as of March 31, 2008
Aggregate number of shares of common stock in issue (excluding treasury stock): 206,290,045 shares
Number of shares of common stock held in treasury stock: 234,581 shares
The Board of Directors, at a meeting held on June 19, 2008, approved a resolution for the cancellation of shares of treasury
stock as follows, pursuant to Article 178 of the Corporation Law of Japan:
(1) Purpose of the cancellation of treasury stock
The cancellation of treasury stock is to be conducted to enhance the return to shareholders of the Company in connection
with the sale of a portion of the Company’s holdings in Yamaha Motor Co., Ltd. which was conducted in May 2007.
(2) Details of the cancellation
(a) Type of treasury stock to be cancelled: Common stock
(b) Total number of shares of treasury stock to be cancelled: 9,269,601
This represents 4.5% of the aggregate number of shares of common stock in issue.
(c) Date of cancellation: June 30, 2008
(Reference)
Number of the Company’s shares of common stock in issue and outstanding following this cancellation of treasury stock:
197,255,025 shares