Gene Bio Tech Co., Ltd.'s Equity Buyback in the amount of KRW600 mm has expired
April 16, 2013 at 12:00 am
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The Board of Directors of Gene Bio Tech Co., Ltd. (KOSE:A086060) authorized a share repurchase program on September 17, 2008. Under the plan, the company will repurchase up to KRW 600 million worth own shares pursuant to a trust agreement with Korea Investment & Securities Co., Ltd. Repurchases will commence on September 17, 2008 and will continue until March 17, 2009.
On March 16, 2009, the company announced that it has extended the program till September 16, 2009.
On September 14, 2009, the company announced that it has extended the program till March 16, 2010.
On March 15, 2010, the company announced that it has extended the program till September 16, 2010.
On September 14, 2010, the company announced that it has extended the program till March 16, 2011.
On March 14, 2011, the company announced that it has extended the program till September 16, 2011.
On September 14, 2011, the company announced that it has extended the program till March 16, 2012.
On March 14, 2012, the Board extended the expiration date of the program till September 17, 2012.
On September 13, 2012, the company extended the buyback program till March 18, 2013.
On March 12, 2013, the company extended the buyback program till March 18, 2014.
On April 15, 2013, the Board decided to terminate the program from April 16, 2013. As of March 11, 2013, the company has repurchased 290,124 shares. Korea Investment & Securities Co., Ltd. acted as the broker to Gene Bio Tech.
Gene Bio Tech Co., Ltd.'s share repurchase program expired on April 16, 2013.
GeneBioTechCo.,Ltd. is a company mainly engaged in the production and sale of feed additives and animal drugs. Along with subsidiaries, the Company operates its business through two segments. The Additive segment is involved in the manufacturing and sale of fermented products and bio starches. The Animal Drug segment is involved in the manufacturing and sale of livestock and fish medicine. The main products include vitamins, minerals, antibiotics, nutrients, immune stimulators, digestion and absorption promoters, among others. The Company distributes its products within the domestic market and to overseas markets, including America.