Enertork, Ltd. closed an Equity Buyback in the amount of KRW191.79 mm
August 06, 2013 at 05:00 am
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The Board of Directors of Enertork, Ltd. (KOSE:A019990) authorized a share repurchase program on July 22, 2013. Under the program, the company will repurchase up to 40,000 shares for KRW 184 million. The company will directly repurchase on Korea Exchange. The purpose behind the program is to stabilize the stock price and to enhance the shareholders' value. The company will make daily repurchase of up to 4,000 shares. Repurchases will commence on July 23, 2013 and will continue until October 22, 2013. As of July 21, 2013, the company has 8,845 shares under direct ownership of treasury stock and no treasury stock under trust agreement. Samsung Securities Co. Ltd. acted as the broker for the Enertork.
Enertork, Ltd. completed its share repurchase program on August 6, 2013. Under the program, the company has repurchased 40,000 shares for KRW 191.79 million.
ENERTORK LTD. is a Korea-based company engaged in the provision of electric actuators and decelerators. The company provides five categories of products: TM, TQ, MW, TD and LTMD-Q series. The TM series provide torque tables, mechanical data products and stem bushes used for globes, gate valves, quarter turn valves, ball valves and others. The TQ series are used for small quarter turn applications such as balls, plug valves and dampers. The MW series are the worm reducers used for plug valves, dampers and others. The TD series are the conventional multi-turn actuators for the harsh environment usage. The LTMD-Q series are developed for nuclear power use. The Company distributes its products within domestic market and to overseas markets.
ENERTORK LTD. 