November 9, 2011
Nippon Telegraph and Telephone Corporation (“NTT”) hereby announces that at the Board of Directors’ meeting held on November 9, 2011, the following resolutions were passed.
(A cancellation pursuant to the provisions of Article 178 of the Corporation Law)
|(1) Class of shares to be cancelled||:||Common stock|
|(2) Number of shares to be cancelled||:||125,461,832 shares
(8.66% of the total issued shares before cancellation 【a】)
|(3) Date of cancellation||:||November 15, 2011|
(An acquisition according to the provision in NTT’s Article of Incorporation, under Article 165, Section 2 of the Corporation Law)
|<1>||Number of Shares||:||Common Stock: 44 million shares (maximum)
* Percent of total number of issued shares before cancellation (excluding treasury stock)【b】: 3.48%
|<2>||Total Repurchase Price||:||220.0 billion yen (maximum)|
|<3>||Repurchase Period||:||From November 16, 2011 to March 30, 2012|
|<4>||Method of Repurchase||:||NTT plans to use the Tokyo Stock Exchange Trading Network Off-Auction Own Share Repurchase Trading System (ToSTNeT-3)|
|【a】 Total number of issued shares||:||1,448,659,067 shares|
|【b】Total number of issued shares (excluding treasury stock)||:||1,265,604,644 shares <【a】 - 【c】>|
|【c】Number of treasury stock held as of September 30, 2011||:||183,054,423 shares|
|【d】Total number of issued shares after cancellation||:||1,323,197,235 shares|
NTT announced that at the Board of Directors’ meeting held on May 14, 2010, the basic policy on cancellation of treasury stock owned by NTT was adopted as stated below.
Details regarding the actual cancellation shall be resolved separately at a Board of Directors’ meeting pursuant to the provisions of Article 178 of the Corporation Law.
Information is current as of the date of issue of the individual press release.
Please be advised that information may be outdated after that point.