May 19, 2003
Notice related to Setting a
Ceiling
of Treasury Stock Acquisitions |
To whom it may concern:
NIPPONKOA Insurance Co., Ltd.
President : Ken Matsuzawa
This is to announce that a meeting of the Board of Directors of
NIPPONKOA Insurance Co., Ltd., held on May 19, 2003, passed a resolution to submit to the
59th Ordinary General Meeting of Shareholders scheduled to be held on June 27, 2003, the
following agenda item in regard to setting a ceiling of treasury stock acquisitions in
accordance with Article 210 of the Commercial Code.
1. Purpose of treasury stock acquisitions:
To ensure flexible capital management.
2. Framework of acquisitions:
(1) |
Type of shares to be acquired: |
Common stock of NIPPONKOA Insurance Co., Ltd. |
(2) |
Number of shares that can be acquired: |
(Not exceeding) 80 million shares
(9.5% of the total number of shares issued) |
(3) |
Aggregate acquisition cost: |
(Not exceeding) 35 billion yen |
N.B. The above-mentioned contents are subject to the condition that the agenda item "To
set a ceiling of treasury stock acquisitions" be approved at the 59th Ordinary General
Meeting of Shareholders scheduled to be held on June 27, 2003. This resolution is to set a
ceiling of treasury stock that can be acquired during the period from the closure of this
General Meeting of Shareholders to the next Ordinary General Meeting of Shareholders.
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