Adastria : Notice Concerning Additional Contribution to Performance-Based Stock Compensation Plan for Directors and Acquisition of Additional Shares
June 28, 2024 at 11:40 am IST
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Jun 28, 2024
(Translation)
To Whom It May Concern,
Company name
Adastria Co., Ltd.
Representative
Osamu Kimura, Representative Director and
President
(Securities code: 2685 TSE Prime Market)
Inquiries
Itsuo Iwakoshi, Senior Executive Officer, General
Manager of Administration Division
(TEL: 03-5466-2060)
Notice Concerning Additional Contribution to Performance-Based Stock Compensation Plan for
Directors and Acquisition of Additional Shares
Adastria Co., Ltd. (the "Company") today announced that the company has resolved (written resolution in lieu of a resolution of the Board of Directors) to make an additional contribution to the BIP Trust ("Trust") established in fiscal 2016 for the performance-linked stock compensation plan ("Plan") established for Company directors (excluding directors who are members of the Audit and Supervisory Committee, outside directors and non-residents of Japan). This additional contribution conforms to the provisions of Article 370 of the Companies Act and Article 24, Paragraph 2 of the Company's Articles of Incorporation. The Company also announced the acquisition of additional shares of Company stock, another subject of the aforementioned resolution.
See Notice Concerning Partial Revision of Performance-Linked Stock Compensation Plan for Directors, published April 17, 2024, for an overview of the performance-linked compensation plan.
1. Additional Contribution and Acquisition of Additional Shares
The Company received approval to partially revise the Plan at the 74th General Meeting of Shareholders, held on May 23, 2024.
In revising the Plan, the Company decided to acquire additional Company shares expected to be delivered during the extended trust period through the Trust, and to make an additional monetary contribution to secure funds for the acquisition of said shares in the Trust.
2. Overview of Additional Shares to be Acquired
Period covered by the Plan
Total amount shares to be acquired Share acquisition period Method of share acquisition
Three fiscal years, beginning with the fiscal year ending on February 29, 2024, and extending through the fiscal year ending February 28, 2026
698 million yen (planned)
July 4, 2024 - July 19, 2024 (planned) To be acquired from the stock market
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Adastria Co Ltd, formerly Adastria Holdings Co Ltd is mainly engaged in the apparel and miscellaneous goods retail business. The domestic product sales business includes casual fashion brands such as Global Work, LOWRYS FARM, LEPSIM, JEANASiS and RAGEBLUE, and lifestyle brands such as nico and ..., studio CLIP and BAYFLOW.It develops e-commerce (EC) specialized brands such as apres jour. It develops fashion apparels for adults under the brands such as Babylon and BARNYARDSTORM. The Company operates its business under the brand Velvet by Graham and Spencer in the United States. The logistics business, goods are received, inspected, stored and shipped. In order to efficiently purchase products when expanding to multiple stores, the Company inspects and stores the received products by the central buying method and ships the products in a timely manner.
ADASTRIA CO., LTD. 
