The Board of Directors of SPOLYTECH Co., Ltd. (KOSE:A050760) authorized a share repurchase program on April 22, 2013. Under the program, the company will repurchase up to 700,000 shares for KRW 2 billion which is based on the closing price of KRW 2,870 per share on April 19, 2013. Repurchases will be made on the stock exchange. The purpose of the program is to stabilize stock price and enhance shareholder value. The maximum number of shares that the company can repurchase in a day is 70,000 shares. Repurchases program will commence on April 23, 2013, and will end on July 22, 2013. As of April 19, 2013, the company had 543 shares in treasury through direct ownership and had no shares in treasury through trust agreements.
Hana Daetoo Securities Co. Ltd. and Dongbu Securities Co., Ltd. acted as the brokers to SPOLYTECH Co., Ltd.
SPOLYTECH CO., LTD. is a Korea-based company mainly engaged in the manufacturing of engineering plastic products and optical sheets and films. The Company mainly produces polycarbonate (PC) sheets and polymethylmethacrylate (PMMA) sheets, used for soundproof walls and boards; light guided panels (LGPs), used for thin film transistor-liquid crystal displays (TFT-LCDs); diffuser panels, used for LCD televisions (TVs); PC films, used for electronics, displays, ski goggles, sun caps and others; PMMA films, used for sign boards, title boards, and PC hollow sheets, used for green houses, vegetable gardens and playgrounds. It also provides weather-ability sheets, heat resistant sheets, specialty films and others.
SPOLYTECH CO., LTD. 