Moatech Co., Ltd. announces an Equity Buyback for 7,043,947 shares, representing 49.15% for KRW 34,163.14 million.
December 21, 2016
Share
Moatech Co., Ltd. (KOSDAQ:A033200) announces a share repurchase program. Under the tender offer, the company will repurchase up to 7,043,947 common shares, representing 49.15% of its issued share capital for KRW 34,163.14 million. The shares will be repurchased at a tender price of KRW 4,850 per share. The transaction amount will be paid in cash. The purpose of the program is delisting. The offer is valid up to January 18, 2017. As of December 21, 2016, the company had nil common shares in treasury under the dividend capacity and nil common shares in treasury under other capacities.
MOATECH CO.,LTD is a Korea-based company mainly engaged in the provision of stepping motors. Along with its subsidiaries, the Company's product portfolio consists of heating ventilation air conditioning (HVAC) step actuators, active incar sensors, linear step actuators, linear step motors, stepping motors, brushless direct current (BLDC) motors, adaptive front light system (AFS) actuators, adjustable electric thermostat (AET) step actuators, refrigerant control valves, solenoids, linear expansion valves, dampers and others. The Company distributes its products within domestic market and to overseas markets. In addition, the Company also engages in the distribution of oil products used for automobiles. On August 4, 2014, it announced that its stake in the Hysonic Co Ltd has decreased to 0%.
MOATECH CO., LTD. 
