Daeyang Electric Co., Ltd. announces an Equity Buyback for KRW 1,000 million worth of its shares.
November 16, 2016 at 02:21 am
Share
Daeyang Electric Co., Ltd. (KOSDAQ:A108380) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million pursuant to a trust contract with Samsung Securities Co. Ltd. The purpose of the share repurchase program is to improve shareholder value through stock price stabilization, employee incentive payment and stock option exercise treasury stock distribution. The share repurchase program is valid until November 16, 2017. As on November 15, 2016, the company had 152,930 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
DAEYANG ELECTRIC. Co., Ltd. is a Korea-based company engaged in the manufacturing of lighting devices and electrical components. The Company's product portfolio consists of lighting devices, electronic systems, distribution boards, receptacles and fans. The lighting devices include fluorescent lightings, incandescent lightings, navigation and signal lightings, spot lights, search lights, anti-explosion lamps and others for industrial and ship uses. The electronic systems are used in marine communication and navigation equipment, refrigeration container monitoring systems, and others. The distribution boards are used for ships and trains. It also provides lead storage batteries through its subsidiary. The Company mainly distributes its products to overseas markets.
DAEYANG ELECTRIC.CO.,LTD. 
