JCH Systems, Inc. announces an Equity Buyback for KRW 1,000 million worth of its shares.
March 20, 2020 at 10:49 am IST
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JCH Systems, Inc. (KOSDAQ:A033320) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares pursuant to a contract with NH Investment & Securities Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on September 21, 2020. As of March 19, 2020, the company had 252,256 shares in treasury within scope available for dividend and had 1,255 shares in treasury through other repurchase.
JCH Systems, Inc., formerly JC HYUN SYSTEMS INC., is a Korea-based company mainly engaged in the provision of information technology (IT) products. The Company operates its business through two divisions: IT products distribution division and Internet services division. Its IT products distribution division involves in the distribution of personal computers (PCs) and computer related products, including main boards, central processing units (CPUs), graphic cards, cables, monitors, projectors and others, as well as car infotainment (CI) devices including car audios, videos, navigations (AVNs) and others. Its Internet services division engages in the provision of network and information security solutions including Internet data center (IDC) services, online solutions, electronic business services and others.