Lapine Co., Ltd. closed an Equity Buyback in the amount of ¥137.64 mm
April 17, 2013 at 09:30 am IST
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The Board of Directors of Lapine Co., Ltd. (TSE:8143) authorized a share repurchase program on April 16, 2013. Under the plan, the company will repurchase 1,480,000 shares, representing 5.98% of the total outstanding shares for ¥137.64 million. The repurchase will be made as Purchase consignment in the Tokyo Stock Exchange at closing share price of April 16, 2013. The purpose of repurchase repurchases is to enable the implementation of a flexible capital policy which supports changes in the business environment. Repurchases will be made on the stipulations of paragraph 3, Article 165, of Japan's Corporate Law, as interpreted in lieu of Article 156 of Japan's Corporate Law. Repurchases will be valid till April 17, 2013. As of April 15, 2013, the company has 24,756,316 shares outstanding and 2,914,326 shares were held under treasury.
Lapine Co., Ltd. completed its share repurchase program on April 17, 2013.
LAPINE CO., LTD. is principally involved in the design, manufacture and sale of women's clothing and goods. The Company also sells its products through specialty stores and department stores nationwide in Japan. The Company's main products include jackets, blouses, skirts, pants, suits, coats and dresses, among others.