The Board of Directors of Openbase, Inc. (KOSE:A049480) authorized a share repurchase program on October 12, 2001. Under the program, the company will repurchase up to KRW 1.5 billion worth own shares pursuant to a trust agreement with Hanmi Bank. The purpose behind the program is to stabilize the stock price. Repurchases will commence on October 12, 2001 and will continue until April 11, 2002. On April 11, 2002, the company announced that it has extended the program till October 11, 2002. On October 10, 2002, the company announced that it has extended the program till April 11, 2003. On April 11, 2003, the company announced that it has extended the program till April 12, 2004. On April 12, 2004, the company announced that it has extended the program till April 12, 2005. On April 12, 2005, the company announced that it has extended the program till April 12, 2006. On April 12, 2006, the company announced that it has extended the program till April 12, 2007. On April 12, 2007, the company announced that it has extended the program till April 12, 2008. On April 14, 2008, the company announced that it has extended the program till April 14, 2009. On April 13, 2009, the company announced that it has extended the program till April 14, 2010. On April 14, 2010, the company announced that it has extended the program till April 14, 2011. On April 14, 2011, the company announced that it has extended the program till April 14, 2012. Hanmi Bank acted as the broker for the buyback. Openbase, Inc.'s share repurchase program expired on April 14, 2012.