MDS Technology Co., Ltd. announces an Equity Buyback for 598,803 shares.
October 30, 2016
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MDS Technology Co., Ltd. (KOSDAQ:A086960) announces a share repurchase program. Under the plan, the company will repurchase 598,803 shares for KRW 10,000.01 million based on a closing price of KRW 16,700 per shares on October 28, 2016. The shares will be repurchased on exchange through direct acquisition. The shares will be repurchased in order to improve shareholder value through stock price stabilization. The company will repurchase maximum of 59,880 shares per day. The shares will be repurchased till January 31, 2017. As of October 30, 2016, the company has no treasury shares through buyback within dividend capacity and no treasury shares through other buybacks.
MDS Tech Inc, formerly Hancom MDS Inc, is a Korea-based company mainly engaged in provision of embedded software development and embedded development solutions. The Company operates its business through five segments. The Innovation Business Manager segment mainly provides solutions and services such as autonomous driving, advanced driver assistance system development solutions and embedded operating systems. The Convergence Business Manager segment provides solutions and services such as development solutions and system automation solutions. Hancom's Intelligence segment provides solutions and services such as core solutions for the 4th industry, artificial intelligence (AI) platforms, and Internet of Things (IoT) solutions. The Domestic Subsidiary segment operates businesses such as communication modules, robots, and shared services. The Overseas Subsidiary segment provides services such as embedded operating systems (OS) to China, Australia, Singapore, and India.