Seoho Electric Co. Ltd. closed an Equity Buyback in the amount of KRW63.49 mm
November 15, 2012 at 09:30 am IST
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The Board of Directors of Seoho Electric Co. Ltd. (KOSE:A065710) authorized a share repurchase program on November 2, 2012. Under the program, the company will repurchase up to 10,000 shares for KRW 64.3 million based on the closing price of the company's share as on November 1, 2012, pursuant to a trust agreement with Hyundai Securities Co., Ltd. The repurchases will be made in the stock exchange. The purpose behind the program is acquisition of own shares following stock option distribution. The company will repurchase up to 6,981 shares on any one day in the program. The repurchases will commence from November 5, 2012 and will continue until November 16, 2012. As of November 1, 2012, the company has 274,378 shares under directly owned treasury stock and no shares in treasury under trust agreement. Hyundai Securities Co., Ltd. acted as the broker to the company.
Seoho Electric Co. Ltd. completed its share repurchase program on November 15, 2012. Under the program, the company has repurchased 10,000 shares for KRW 63.49 million.
Seoho Electric Co., Ltd is a Korea-based company engaged in the manufacturing and distributing of control systems for harbor cranes. The Companyâs products consist of control systems used for harbor cranes, including crane monitoring and management systems (CMMSs), anti-sway systems and auto position identification systems (APISs) and automated steering for cranes using global positioning system (GPS); industrial drive control systems; direct current (DC) converters, which are driving devices for DC motors, and alternating current (AC) inverters, which are driving devices for fans and pumps. The Company distributes products within domestic market and to overseas markets.