Muhak Co., Ltd. announces an Equity Buyback for 150,000 shares.
May 23, 2016
Share
Muhak Co., Ltd. (KOSE:A033920) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 shares for a total of KRW 4,372.5 million, which is based on the closing price of KRW 29,150 per share on May 23, 2016. The company will repurchase its shares directly through the Stock Exchange. The purpose of the share repurchase program is to improve shareholder value and to stabilize stock price. The maximum number of shares that the company may repurchase on any day is 15,000 shares. The actual repurchase number of shares and the amount may change according to the hereafter stock price change. The share repurchase program is valid until June 24, 2016. As of May 23, 2016, the company had 555,610 shares in treasury within scope available for dividend and had 7,522 shares in treasury through other repurchase.
Muhak Co Ltd is a Korea-based company principally engaged in the manufacture and sale of traditional liquor products. The Company operates its business through two segments. The Liquor Segment engaged in the manufacture of soju, a distilled beverage native to Korea, as well as chrysanthemum alcoholic drinks, plum wines, sparkling wines and rice wines. The Steel Segment engages in the manufacturing and processing electrical steel sheets and stainless steels for electric motors and transformers. The Company distributes its liquor product in domestic and overseas markets such as China, Vietnam.
MUHAK CO., LTD. 