SYLA Technologies Announces Intention to Establish Employee Stock Purchase Plan
16 Août 2023 - 2:30PM
SYLA Technologies Co., Ltd. (NASDAQ: SYT)
(“SYLA” or “the Company”), operator of the largest
membership real estate crowd-funding platform in Japan,
Rimawari-kun, announced it intends to establish an Employee Stock
Purchase Plan (“ESPP”) as part of its efforts to enhance corporate
value and provide employee benefits.
SYLA intends to establish such a plan due to the many benefits
to both the Company and its employees. These benefits include
employee engagement in partial ownership in the Company, retention
and recruitment purposes, interest alignment between corporation
and employee, and importantly the ability for employees to gain
greater wealth accumulation opportunities through the Company. The
Company also intends to provide a subsidy for purchases.
Expected Outline of the ESPP
Name |
SYLA Technologies Employee Stock Purchase Plan |
Securities to be purchased |
American Depositary Shares (100 ADSs = 1 common share of SYLA) |
Eligibility |
Employees (voluntary membership) |
Establishment |
Expected August 2023 (Scheduled to begin with July payroll
contributions) |
Contribution |
Generally in units of 1,000 yen each, with a maximum of 200 units
(200,000 yen) at the time of monthly salaries and 400 units
(400,000 yen) at the time of bonuses. |
Company subsidy |
An amount equal to 20% of employee contributions |
Timing for withdrawal |
Voluntary or at retirement |
About SYLA Technologies Co., Ltd.Headquartered
in Tokyo, Japan, our company consists of SYLA Technologies Co.,
Ltd. and its consolidated subsidiaries (SYLA Co., Ltd., SYLA Solar
Co., Ltd., SYLA Brain Co., Ltd., and SYLA Biotech Co., Ltd.). The
Company owns and operates the largest membership real estate
crowd-funding platform in Japan, Rimawari-kun, which targets
individuals, corporate and institutional investors, as well as high
net worth individuals. Their mission is to democratize real estate
investment around the world through technology and asset management
through the Rimawari-kun platform. They are engaged in the overall
investment condominium business, including planning, development,
construction, sales, rental management, building management, repair
work, and the sale of properties. Additional information about the
Company’s products and services is available at
https://syla-tech.jp/en
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act and other securities laws. Words such as “expects,”
“anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates”
and similar expressions or variations of such words are intended to
identify forward-looking statements. For example, the Company is
using forward-looking statements when it discusses the expected
gross proceeds and the closing of the offering. Forward-looking
statements are not historical facts, and are based upon
management’s current expectations, beliefs and projections, many of
which, by their nature, are inherently uncertain. Such
expectations, beliefs and projections are expressed in good faith.
However, there can be no assurance that management’s expectations,
beliefs and projections will be achieved, and actual results may
differ materially from what is expressed in or indicated by the
forward-looking statements. Forward-looking statements are subject
to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in the
forward-looking statements. For a more detailed description of the
risks and uncertainties affecting the Company, reference is made to
the Company’s reports filed from time to time with the Securities
and Exchange Commission (“SEC”), including, but not limited to, the
risks detailed in the Company’s annual report on Form 20-F, filed
with the SEC on April 18, 2023. Forward-looking statements speak
only as of the date the statements are made. The Company assumes no
obligation to update forward-looking statements to reflect actual
results, subsequent events or circumstances, changes in assumptions
or changes in other factors affecting forward-looking information
except to the extent required by applicable securities laws. If the
Company does update one or more forward-looking statements, no
inference should be drawn that the Company will make additional
updates with respect thereto or with respect to other
forward-looking statements. References and links to websites have
been provided as a convenience, and the information contained on
such websites is not incorporated by reference into this press
release.
Contact InformationGateway Group, Inc.John Yi
and Thomas ThayerSYLA@gateway-grp.comTel +1 (949) 574-3860
SYLA Technologies (NASDAQ:SYT)
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