Victek Co., Ltd. closed an Equity Buyback in the amount of KRW935.17 mm
August 09, 2013 at 09:30 am IST
Share
The Board of Directors of Victek Co. Ltd. (KOSE:A065450) authorized a share repurchase program on June 7, 2013. Under the program, the company will repurchase up to 595,238 shares for KRW 1 billion based on the closing price of company's share on June 5, 2013 pursuant to a contract with Dongbu Securities. The company will repurchase up to 245,000 shares on any one day in the program. Repurchases will be made on exchange from securities market. The purpose behind the program is to stabilize the stock price and to enhance shareholder value. Repurchases will commence on June 10, 2013 and will continue until September 9, 2013. As of June 6, 2013, the company has no shares under direct ownership of treasury stock and treasury stock under trust agreement. Dongbu Securities Co., Ltd. acted as the broker to the company for the buyback.
Victek Co. Ltd. completed its share repurchase program on August 9, 2013. Under the plan, the company has repurchased 595,238 shares for KRW 935.17 million.
VICTEK Co., Ltd. is a Korea-based company mainly engaged in the provision of military systems and power supply systems. Its power supply systems are used for telecommunication, orbital weapons and electronic warfare systems. The Company offers electronic systems used for navy vessels and aircrafts, such as FLIR SEU systems, which are system processors for mobilizing helicopter equipment to provide infrared ray images, FO DMD systems, which transmit and receive location and image information with wired and wireless communications, direction finding systems, as well as digital frequency discriminators. It also develops radio frequency identification (RFID) systems, public bike systems, real time location systems, as well as solar inverters.
VICTEK CO., LTD. 
