Tokyo Seimitsu To Dispose of 200,000 Shares for New Compensation Plan; Shares Up 3%

Tokyo Seimitsu (TYO:7729) will dispose of 200,000 treasury shares at 6,906 yen each, totaling 1.38 billion yen on Sept.27, according to a Wednesday filing on the Singapore Exchange.

The shares will be allocated to a trust managed by the Custody Bank of Japan under its new performance-linked stock compensation plan.

The disposal represents 0.48% of total shares and 0.50% of voting rights as of March 31.

Shares of the company were up 3% in recent trade.

Price (JPY): $7233.00, Change: $+240, Percent Change: +3.42%