Samchuly Bicycle Co., Ltd. (KOSDAQ:A024950) announces a share repurchase program. Under the program, the company will repurchase up to 90,000 common shares. The estimated price for repurchase would amount to KRW 1,602 million, which is based on the market close price of November 3, 2015 of KRW 17,800 per share.

The shares will directly be repurchased on the Korea Securities Dealers Automated Quotation market. The purpose of the program is to stabilize the stock price and enhance the shareholder's value. The company's daily repurchase limit is 14,169 common shares.

The program is valid up to December 31, 2015. As of November 3, 2015, the company had 910,000 common shares in treasury under the scope available for dividend and nil common shares in treasury under other capacities.