UbiVelox Inc. announces an Equity Buyback for 175,438 shares.
June 06, 2016
Share
UbiVelox Inc. (KOSDAQ:A089850) announces a share repurchase program. Under the program, the company will repurchase up to 175,438 shares for KRW 2,000 million based on the share price on June 3, 2016. The shares will be repurchased on the Korea Exchange through the on exchange direct repurchase method. The purpose of the program is stock price stability and enhancement of the shareholders’ value. The maximum number of shares that can be repurchased on any single day is limited to 17,543 common shares. The program will expire on September 7, 2016. As of June 6, 2016, the company had 111,181 common shares in treasury under the scope available for dividend and no common shares in treasury under other capacities.
UBIVELOX Inc is a Korea-based company that mainly develops and provides system software. The Company operates through three segments. The Black Box and Map Platform Business segment is mainly engaged in the provision and sale of black boxes for vehicles. Additionally, this segment is engaged in the development and provision of navigation. The Smart Card Business segmemt is principally engaged in the development and provision of smart card sales and system construction. The Mobile Business segment is mainly engaged in the provision of My Data service, beacon supply, and mobile platform solutions.
UBIVELOX INC 
