Resorttrust (TYO:4681) said its board approved the disposal of 2.8 million treasury shares through a third-party allotment to fund its Board Benefit Trust (BBT) and J-ESOP programs, according to a Thursday filing on the Tokyo Stock Exchange.
Shares, priced at 1,875 yen each for a total value of 5.22 billion yen, will be allotted to Custody Bank of Japan (Trust Account E) on Dec. 1.
The disposal supports ongoing performance-linked share-based compensation plans for directors, executive officers, and employees across the company and its subsidiaries, the filing said.
The move will result in share dilution of about 1.3% of voting rights, it added.