- Sumitomo Metal Industries, Ltd.
The Board of Directors of Sumitomo Metal Industries, Ltd.
(Sumitomo Metals), at a meeting on August 30, 2012,
resolved the following particulars regarding the
acquisition of its own shares, pursuant to the Articles of
Incorporation based on the provision of Item 1 of Article
459 of the Companies Act. On September 3, 2012, the
specific method to purchase its own shares has been decided
as stated below.
1. Method of acquisition
Shares will be purchased at the Tokyo Stock Exchange at
8:45 a.m. on September 4, 2012 by a closing price of 111
yen per share as of today, September 3, 2012. Transactions
will be made through ToSTNet-3, and shall not be made by
other trading systems nor at another time. The purchase
order will be valid only at the time designated for
transactions.
2. Particulars related to the acquisition.
(1) Type of shares to be acquired: | Common stock of Sumitomo Metals |
(2) Number of shares to be acquired: | Up to 500 million shares |
(3) Total acquisition amount: | Up to 55.5 billion yen |
(4) Announcement of acquisition results: | To announce the acquisition results after completion of transactions to be performed at 8:45 a.m. on September 4, 2012 |
(Note 1) Depending on market fluctuations and other
factors, a part or all of the transaction may not be
performed.
(Note 2) Sumitomo Metals has been informed by Nippon Steel
Corporation, a shareholder of Sumitomo Metals, that Nippon
Steel intends to sell its holding of
Sumitomo Metals' common stock.