Inhwa Precision Co., Ltd.'s Equity Buyback in the amount of KRW3000 mm has expired
August 08, 2012 at 12:00 am EDT
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The Board of Directors of Inhwa Precision Co., Ltd. (KOSE:A101930) authorized a share repurchase program on August 9, 2011. Under the program, the company will repurchase up to KRW 3 billion worth own shares pursuant to a trust agreement with Shinhan Investment Corp. The purpose behind the program is to stabilize the stock price and to enhance shareholder value. Repurchases will commence on August 9, 2011 and will continue until February 8, 2012. As of August 9, 2011, the company does not hold any share in treasury.
On February 7, 2012, the company extended its share repurchase program until August 8, 2012. Shinhan Investment Corp. acted as the broker to the company for the buyback.
Inhwa Precision Co., Ltd.'s share repurchase program expired on August 8, 2012. Under the program, the company has repurchased 150,857 shares.
Inhwa Precision Co., Ltd. is a Korea-based company principally engaged in the manufacture of vessel engine components. The Company's vessel engine components include cylinder covers, cylinder frames, bed plates, frame boxes and others for low-speed diesel engines, as well as base frames and common beds for medium-speed diesel engines. It also provides power plant components, such as exhaust frames, end shields, bearing housings, main lead boxes, diffusers and others. In addition, through its subsidiaries, it is involved in the provision of automobile components such as joint cages, diff gears and others, as well as metal tooling machines such as soft line machines, rolling machines and others. The Company mainly distributes its products within domestic market.
INHWA PRECISION CO., LTD 
