Daeyang Electric Co., Ltd.'s Equity Buyback in the amount of KRW1000 mm has expired
February 13, 2012 at 09:30 am IST
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The Board of Directors of Daeyang Electric Co., Ltd. (KOSE:A108380) authorized a share repurchase program on August 11, 2011. Under the program, the company will repurchase up to KRW 1 billion worth own shares pursuant to a trust agreement with Samsung Securities Co., Ltd. The purpose behind the program is to stabilize the stock price, to enhance shareholder value and to provide shares as incentives for Officers and employees and stock options. Repurchases will commence on August 11, 2011 and will continue until February 13, 2012. As of August 10, 2011, the company has no shares in treasury.
On December 28, 2011, the company partially terminated its trust agreement with Samsung Securities Co., Ltd. The company will repurchase up to KRW 589.35 million worth of shares pursuant to cancelled 43,000 repurchased shares.
Till December 27, 2011, the company has repurchased 94,089 shares.
Samsung Securities Co., Ltd. acted as the broker for the buyback.
Daeyang Electric Co., Ltd.'s share repurchase program expired on February 13, 2012.
DAEYANG ELECTRIC. Co., Ltd. is a Korea-based company engaged in the manufacturing of lighting devices and electrical components. The Company's product portfolio consists of lighting devices, electronic systems, distribution boards, receptacles and fans. The lighting devices include fluorescent lightings, incandescent lightings, navigation and signal lightings, spot lights, search lights, anti-explosion lamps and others for industrial and ship uses. The electronic systems are used in marine communication and navigation equipment, refrigeration container monitoring systems, and others. The distribution boards are used for ships and trains. It also provides lead storage batteries through its subsidiary. The Company mainly distributes its products to overseas markets.
DAEYANG ELECTRIC.CO.,LTD. 
