Omnisystem Co.,Ltd. announces an Equity Buyback for KRW 3,000 million worth of its shares.
February 25, 2020 at 01:19 pm IST
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Omnisystem Co.,Ltd. (KOSDAQ:A057540) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of its common stock, pursuant to a contract with Mirae Asset Daewoo. The purpose of the program is to stabilize the share price and increase shareholders value. The program will expire on February 25, 2021. As of February 24, 2020, the company had no shares in treasury within the allowable range of acquisition and 25,199 shares in treasury through other acquisition.
OmniSystem Co Ltd is a Korea-based company mainly engaged in the manufacture and distribution of digital meters. The Company operates its business through three segments. The Measuring Monitoring Verification (MMV) segment is mainly engaged in the manufacture and sale of digital meter such as digital electricity meters, digital calorimeters, digital water meters, digital hot water meters, digital gas meters and others. In addition, the segment is also engaged in the supply of integrated notice management software and energy management system as well as others. The Card segment is mainly engaged in the manufacture and sale of cards such as credit cards and mobile communication cards. The Lighting segment is mainly engaged in the manufacture and sale of landscape lighting for buildings, bridges, golf courses, ski resorts, roads, as well as lighting for apartments.
OMNISYSTEM CO.,LTD. 