Very Good Leisure Co., Ltd. announces an Equity Buyback for 100,000 shares.
November 28, 2016
Share
Very Good Leisure Co., Ltd. (KOSDAQ:A094850) announces a share repurchase program. Under the program, the company will repurchase up to 100,000 common shares. The estimated price for the repurchase would amount to KRW 798 million, which is based on the market close price of November 28, 2016 of KRW 7,980 per share. The repurchases will be direct through the KOSDAQ market. The purpose of the program is to provide stability and to enhance the shareholders’ value of share price. The company's daily repurchase limit is 10,000 common shares. The program is valid up to January 23, 2017. As of November 28, 2016, the company had 150,000 common shares in treasury under the dividend capacity.
Very Good Tour Co.,Ltd., formerly Very Good Leisure Co., Ltd. is a Korea-based company principally engaged in the wholesale of bicycles and related components. The Company operates in two business segments: bicycle segment and travel segment. Its bicycle segment engages in the distribution of specialty and high-graded bicycles under the brand names of CELLO, BLACKCAT and others, related components under the brand names of MOOTS and BBB, as well as leasing of bicycles. Its travel segment provides a range of travel products including honeymoon travels, freedom travels, backpacking travels, golf course travels, overseas travels and others, as well as airline ticket sale, hotel booking and other travel related services.