Moatech Co., Ltd. announces an Equity Buyback for 1,917,291 shares, for KRW 9,298.86 million.
February 27, 2017 at 02:59 am EST
Share
Moatech Co., Ltd. (KOSDAQ:A033200) announces a share repurchase program. Under the program, the company will repurchase up to 1,917,291 common shares at a tender price of KRW 4,850 per share for KRW 9,298.86 million. The shares will be repurchased on the Korea Securities Dealers Automated Quotation. The purpose of the program is to delist the shares. The company's daily repurchase limit is 143,331 common shares. The program is valid up to May 26, 2017. As of February 26, 2017, the company had 5,126,656 common shares in treasury under the dividend capacity and no 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. 
