The board of directors of the Kansai
Electric Power Co., Inc. (the Company) resolved today to propose a
share-buyback program at the 79th General Meeting of Shareholders
to be held on June 27, 2003. The Company will be entitled to implement
share buybacks with approval from the shareholders in accordance with
Article 210 of the Commercial Code.
1. Purpose of share-buyback
The share-buyback program will
enable the Company to adopt timely and flexible capital policy measures
from time to time in response to changes in the business environment.
2. Outline of share-buyback
| (1) Type of shares
to be purchased |
| |
Common stock |
| |
|
| (2) Total number
of shares authorized for buyback |
| |
Up to 16 million shares (Representing
1.7% of shares issued and outstanding) |
| |
|
| (3) Total amount
of shares authorized for buyback |
| |
Up to 30 billion yen |
|
