Humax Holdings Co., Ltd. announces an Equity Buyback for 393,700 shares.
June 06, 2016
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Humax Co., Ltd. (KOSDAQ:A028080) announces a share repurchase program. Under the program, the company will repurchase up to 393,700 shares for a total of KRW 4,999.99 million, which is based on the closing price of KRW 12,700 per share on March 7, 2016. The company will repurchase its shares directly on Korea Securities Dealers Automated Quotation market. The purpose of the share repurchase program is to improve shareholder value and to stabilize stock price. The maximum number of shares that the company may repurchase on any day is 39,370 shares. The actual repurchase number of shares and the amount may change according to the hereafter stock price change. The share repurchase program is valid until September 7, 2016. As of June 6, 2016, the company had 455,001 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
HUMAX Holdings Co., Ltd. is a Korea-based holding company mainly engaged in the management of its subsidiaries. The Companyâs subsidiaries consist of HUMAX CO., LTD., which engages in the manufacturing and marketing of digital set-top boxes (STBs) under the brand name HUMAX; HUMAX GLOBAL CO., LTD., which is engaged in the manufacture, processing, distribution and rental of information processing equipment, as well as HUMAX I&C CO., LTD and Conin Investment Co., Ltd, which are engaged in the acquisition of shares in other companies and provision of operation related consulting services. Through its subsidiaries, the Company also involves in the real estate leasing, advertising and other business.