5/30/2008

SLSE Japan announced, The rule which cancel a lock-up

Japanese stock exchange SLSE Japan annouced the provisional rule which chancel a lock-up, 26 May.
SLSE Japan says, Market cannot make fair stock price now, becouse there are not stocks which circulate in a market enough.
Therefore, The lock-up of the stock which listed company staffs own is canceled.

A part of conditions which cancel a lock-up
-The company has to announce, one week before canceling a lock-up.
-It is impossible, when one month or more of cancelling a lock-up has not passed since the last cancelling a lock-up.
-The number of stocks of which a lock-up is canceled is less than 20% of the number of stocks which is in a market then.
-This rule will be performed from June 1, 2008.