Chokwang Leather Co., Ltd.'s Equity Buyback in the amount of KRW2000 mm has expired
July 21, 2012 at 12:00 am EDT
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The Board of Directors of Chokwang Leather Co., Ltd. (KOSE:A004700) authorized a share repurchase program on January 21, 2010. Under the program, the company will repurchase up to KRW 2 billion of its shares through a trust agreement with Woori Bank. The purpose of the repurchase program is to maintain stability of stock prices. The repurchases will commence on January 21, 2010, and will end on July 21, 2010. As of January 21, 2010, the company has 3,038,217 common shares under directly owned treasury stock.
On July 21, 2010, the company cancelled KRW 1 billion repurchase under the trust agreement and extended the agreement for the remaining KRW 1 billion until January 21, 2011.
On January 21, 2011, the company announced that it has cancelled KRW 500 million repurchase under the trust agreement and extended the agreement for the remaining KRW 500 million until July 21, 2011.
On July 21, 2011, the company extended its share repurchase program until January 21, 2012.
On January 20, 2012, the company extended its share repurchase program until July 21, 2012.
Woori Bank, Woori Investment & Securities Co., Ltd., Hyundai Securities Co., Ltd., Daewoo Securities Co., Ltd., SK Securities Co., Ltd. and Taurus Investment & Securities Co., Ltd. acted as brokers to the company in the program.
Chokwang Leather Co., Ltd.'s share repurchase program expired on July 21, 2012. Under the program, the company repurchased 6,870 shares.
Chokwang Leather Co.,Ltd. is a Korea-based company engaged in the manufacture and distribution of leathers. The Company mainly provides automotive leathers, which are used as seat covers, headrests, armrests, steering wheels, door trims, dash boards, knobs and others, as well as fashion leathers, including full grain, shrunken, vegetable tanned, oil type, corrected grain, waterproof and other types, which used in the shoes, handbags, wallets, belts and others. It also provides leathers used as furniture and other products. In addition, it is involved in the provision of byproducts in the leather manufacturing process. The Company distributes its products within domestic market and to overseas market.
CHOKWANG LEATHER CO.,LTD. 
