Seoho Electric Co. Ltd. closed an Equity Buyback in the amount of KRW110.6 mm
December 16, 2012 at 11:00 pm EST
Share
The Board of Directors of Seoho Electric Co. Ltd. (KOSE:A065710) authorized a share repurchase program on December 4, 2012. Under the program, the company will repurchase up to 20,000 shares for KRW 115 million, based on the closing price of KRW 5,750 per share as on the previous day. The repurchases will be made on the stock exchange. The purpose of the program is to distribute shares for stock options. The company will repurchase up to 3,745 shares on any day under the program. The repurchases will commence on December 5, 2012 and will end on December 28, 2012. As of December 3, 2012, the company had 294,378 shares in treasury through direct ownership and had no shares in treasury through trust agreements. Hyundai Securities Co., Ltd. acted as the broker to the company.
Seoho Electric Co. Ltd. completed its share repurchase program on December 17, 2012. Under the plan, the company has repurchased 20,000 shares for KRW 110.6 million.
Seoho Electric Co., Ltd is a Korea-based company engaged in the manufacturing and distributing of control systems for harbor cranes. The Companyâs products consist of control systems used for harbor cranes, including crane monitoring and management systems (CMMSs), anti-sway systems and auto position identification systems (APISs) and automated steering for cranes using global positioning system (GPS); industrial drive control systems; direct current (DC) converters, which are driving devices for DC motors, and alternating current (AC) inverters, which are driving devices for fans and pumps. The Company distributes products within domestic market and to overseas markets.