Daewon Cable Co. Ltd.'s Equity Buyback in the amount of KRW600 mm has expired
September 03, 2012 at 12:00 am EDT
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The Board of Directors of Daewon Cable Co. Ltd. (KOSE:A006340) authorized a share repurchase program on November 17, 2010. Under the program, the company will repurchase up to KRW 1.5 billion worth of shares pursuant to a trust agreement with Hanwha Securities Co., Ltd. The purpose of the share repurchase program is to stabilize share prices. The repurchases will commence on November 17, 2010, and will end on May 17, 2011. As of November 17, 2010, the company has a direct ownership of 63,300 shares in treasury and has 2,109,710 shares in treasury through trust agreements.
On May 17, 2011, the company extended its share repurchase program until November 17, 2011.
On November 14, 2011, the company extended its share repurchase program until May 17, 2012.
On March 5, 2012, the company reduced its repurchase program from KRW 1.5 billion to KRW 600 million, for the purpose of raising operating funds.
On May 17, 2012, the company extended the share repurchase program until May 16, 2013. Hanwha Securities Co., Ltd. acted as a broker to the company.
Daewon Cable Co. Ltd.'s share repurchase program expired on September 3, 2012.
DAEWON CABLE. CO., LTD. is a Korea-based company mainly engaged in the manufacture of cables and wires. The Company produces copper and aluminum wires, naked electric wires, building wires, polyvinyl chloride (PVC) insulated wires, power and control cables, data and telecommunication cables, optical fiber cables, underground residential distribution (URD) power cables, local area network (LAN) cables, flame retardant cables, power supply wires and others. The products are used for electricity transmission and distribution, as well as city downtown and outside communications. It also involves in the processing business through its affiliate. The Company distributes its products within domestic market and to overseas markets. On June 24, 2013, the Company acquired 100% shares of a Korea-based company, which is mainly engaged in the designated waste treatments.
DAEWON CABLE. CO., LTD. 
