Homecast Co., Ltd.'s Equity Buyback in the amount of KRW1750 mm has expired
January 02, 2013 at 09:30 am IST
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The Board of Directors of Homecast Co., Ltd. (KOSE:A064240) authorized a share repurchase program on March 7, 2012. Under the program, the company will repurchase up to KRW 1.75 billion worth own shares pursuant to a trust agreement with Daewoo Securities Co., Ltd. The purpose behind the program is to stabilize the stock price and to enhance shareholder value. Repurchases will commence on March 7, 2012 and will continue until September 7, 2012. As of March 6, 2012, the company has no shares in treasury.
On September 5, 2012, the company announced that it has extended the plan till March 7, 2013. Daewoo Securities Co., Ltd. acted as the broker to the company.
Homecast Co., Ltd.'s share repurchase program expired on January 2, 2013. The company has purchased 401,023 shares for KRW 1.71 billion.
HOMECAST CO.,LTD. is a Korea-based company specialized in the manufacture of set top boxes (STBs). The Company mainly engaged in the provision of digital STBs and STB components. The company provides its products under the brand name of HOMECAST. The Company distributes its products within domestic market and to overseas markets, including India, China, Japan, Middle East, Africa, Europe and Oceania countries.