In December 2009, the Tokyo Stock Exchange (TSE) announced an amendment to its rules regarding stock acquisition rights (SARs) abolishing the requirement under the Implementation Rules for the TSE Listing Standard that one share must be issued when a listed stock acquisition right is exercised. This amendment, which effectuates a part of the Listing System Improvement Action Plan 2009 published by the TSE, is intended to promote the use of rights issues as an alternative to public offerings of shares.
March 01 2010