The Board of Directors of HRS Co., Ltd (KOSE:A036640) authorized a share repurchase program on July 23, 2012. Under the program, the company will repurchase up to 190,476 shares for KRW 500 million based on the closing price of the company's share on July 20, 2012. Repurchases will be made on Korea Securities Dealers Automated Quotation market. The company will make repurchases up to 23,093 shares on any one day in the program. The purpose behind the program is stabilization of stock price. Repurchases will commence on July 24, 2012 and will continue until October 23, 2012. As of July 22, 2012, the company had 41,144 shares under direct ownership of treasury stock.
As of August 28, 2012, the company has repurchased 184,971 shares for KRW 500.73 million. IBK Securities Co., Ltd acted as the broker for the buyback.
HRS Co., Ltd's share repurchase program expired on October 23, 2012.
HRS Co., Ltd is a Korea-based company mainly engaged in the manufacture and distribution of silicone rubbers. The Company's product portfolio consists of millable type high temperature vulcanizing (HTV) silicone rubbers, liquid silicone rubbers (LSRs), room temperature vulcanizing (RTV) silicone rubbers, silicon sheet (SS) products and others. The Companyâs products are used for electric and electrical equipment, automobiles, communications, medical equipment and other areas. Its products are under the brand name HRS. The Company distributes its products within domestic market and to overseas markets.
HRS CO., LTD 