SMEC Co., Ltd. announces an Equity Buyback for KRW 3,000 million worth of its shares.
October 04, 2018 at 02:14 am
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SMEC Co., Ltd. (KOSDAQ:A099440) announces a share repurchase program. Under the program, the company will repurchase KRW 3,000 million under the contract with Shinhan Investment Corp. The purpose of the program is to enhance shareholders' value and stabilize the share price. The program will be valid until April 3, 2019. As of October 3 2018, the company had 200,000 shares in treasury under the dividend capacity and 1,250,051 shares in treasury under other capacities.
SMEC CO., LTD is a Korea-based company mainly engaged in the machinery and communication industry businesses. The Companyâs machinery business is involved in the production of computer number control (CNC) lathes, machine centers, robots, lasers, catalogue archives, assemblies and original equipment manufacturer (OEM) products under the brand name LCV, PL and others. Its communication business is involved in the provision of trunk gateways, media gateways, signaling gateways, session border controllers, wireless transmission control protocols (TCPs), and maintenance services under the brand names NGTG, NGMG, NGSG, NGSBC and WTCP. The Company also provides repair and maintenance services for communication equipment. It distributes its products within domestic market and to overseas markets.
SMEC CO.,LTD 