ANA Holdings Inc New Share Remuneration Plan for the Directors (6142N)
May 19 2015 - 4:35AM
UK Regulatory
TIDMANA
RNS Number : 6142N
ANA Holdings Inc
19 May 2015
May 19, 2015
Company name: ANA HOLDINGS INC.
Representative: Shinya Katanozaka, President
&CEO
(Code No: 9202 TSE 1st Section)
Inquiries: Yuzo Hara, Director of
Corporate Communication
office
General Administration &
CSR Promotion
(Tel. 03-6735-1001)
Notification of the Introduction of a New Share Remuneration
Plan for the Company's Directors
Today, the board of directors of ANA HOLDINGS INC.("Company")
resolved in its meeting to revise the remuneration plan of the
directors and introduce a performance-based share remuneration plan
(the "Plan") as a new incentive plan, and decided to propose the
Plan for approval at the 70th Ordinary General Meeting of
Shareholders to be held on June 29, 2015 (the "OGM"). Accordingly,
the Company hereby notifies you as follows.
1. Background and purpose of introduction
The Plan purports to further enhance the connection between the
remuneration of directors (other than external directors;
Hereinafter the same) and mid-term and long-term operating
performance and share value, and to cause the directors to closely
share with shareholders not only the benefits of stock price
increases but also the risk of stock price reductions, and thereby
increase the directors' motivation to make contributions to
increase the Company group's mid-term and long-term performance and
corporate value.
In order to ensure the adequacy of the remunerations of
directors, etc. and transparency of the determination process
thereof the Company has established a remuneration advisory
committee to serve as an advisory organization for the board of
directors, whereas a majority of its members consist of external
directors and external experts. The remuneration advisory committee
will conduct discussions before the board of directors determines
the remuneration policy.
The introduction of the Plan for directors will be discussed in
the remuneration advisory committee and resolved at the meeting of
the board of directors before it is proposed for approval at the
OGM. The Plan will be introduced subject to the approval of the
OGM.
To date, the remunerations of directors were comprised of "basic
remuneration" with a fixed amount, and a "bonus", which is a
"performance-based remuneration" delivered in cash with an amount
that varies depending on the achievement of performance. After the
introduction of the Plan, the remunerations of directors will
consist of not only the existing "basic remuneration" and "bonus,"
but also the "share remuneration" which is a "performance-based
remuneration" delivered in shares, etc. The remuneration of
external directors will continue to consist of the fixed amount
remuneration (monthly payment) only. See attached PDF for
details
http://www.rns-pdf.londonstockexchange.com/rns/6142N_-2015-5-19.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
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