TV Asahi Holdings (TYO:9409) board approved the issuance of 8,266 new shares worth up to 25.4 million yen under its restricted share compensation plan.
The shares were allocated to 16 operating directors of the company and subsidiary, according to a June 26 filing on the Tokyo Stock Exchange.
Subsequently, the company will cancel treasury shares equal to the number of new common shares issued.
The disposal will be completed on July 24.
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