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The Kansai Electric Power Co., Inc. (Code: 9503)
6-16 Nakanoshima 3-chome, Kita-ku, Osaka
(URL http://www.kepco.co.jp)
Company Representative: Shosuke Mori, President and Director
Contact: Momosuke Ozuku, General Manager, Office of Financing and Accounting
Tel: +81-6-6441-8821
Kansai Electric Power Co., Inc. (the Company) announces that at the meeting of the Board of Directors held today, the Company resolved the purchase of its own shares pursuant to Article 156 of the Company Law of Japan as applied pursuant to Article 165, Paragraph 3.
1. Purpose of share-buyback
For profit distribution to shareholders
2. Outline of share-buyback
| (1) |
Class of shares to be repurchased: |
Kansai Electric ordinary shares |
| (2) |
Maximum number of shares: |
8,000,000 shares
(Representing 0.8% of total outstanding shares)
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| (3) |
Maximum amount of repurchase: |
20,000 million yen |
| (4) |
Repurchase schedule: |
From May 7, 2008 to March 31, 2009 |
3. Other
The Company intends to retire its own shares which will be repurchased according to this Board resolution.
(Reference)Number of treasury stock held as of March 31, 2008
| Total outstanding shares (excluding treasury stock): |
918,798,759 shares |
| Number of treasury stock: |
43,899,969 shares |
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