Guyoung Tech. Co., Ltd. announces an Equity Buyback for 1,000,000 shares.
December 05, 2016
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Guyoung Tech. Co., Ltd. (KOSDAQ:A053270) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares for a total of KRW 2,025 million, which is based on the closing price of KRW 2,025 per share on March 5, 2016. The actual buyback amount may change upon changes in the stock price. The company will repurchase its shares on the open market. The purpose of the share repurchase program is to enhance shareholder value by stabilizing stock price. The maximum number of shares that the company may repurchase on any day is 100,000 shares. The share repurchase program is valid until March 3, 2017. As of March 5, 2016, the company had 1,342,200 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
GUYOUNGTECHNOLOGY COMPANY LIMITED is a Korea-based company engaged in the original equipment manufacturing (OEM) of automobile parts. The Company produces body and chassis parts, including seat assemblies, hinge assemblies, hook assemblies, bracket assemblies and others, and power trains, including bracket assemblies, cover assemblies and pan assemblies. Through its subsidiaries, it also produces large body parts, small body parts and chassis parts of automobiles, as well as operates gas stations and cargo terminals.
GUYOUNG TECHNOLOGY CO., LTD 
