Samchuly Bicycle Co., Ltd announces an Equity Buyback for 200,000 shares.
November 28, 2016
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Samchuly Bicycle Co., Ltd (KOSDAQ:A024950) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 common shares. The estimated price for repurchase would amount to KRW 2,240 million, which is based on the market close price of November 28, 2016, of KRW 11,200 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 20,000 common shares. The program is valid up to January 23, 2017. As of November 28, 2016, the company had 1,000,000 common shares in treasury under the dividend capacity.
SAMCHULY BICYCLE CO., LTD. is a Korea-based company engaged in the manufacture and marketing of bicycles. The Company's offerings consist of folding bikes, women's bikes, children's bikes, racing bikes, mountain bikes and special bikes under the brand names such as Appalanchia, ELLE, HOUND, NEXT and LESPO. It is also involved in the provision of bicycle parts and related products, such as tires, helmets, goggles, bags, baskets, locks, infant saddles and saddle covers, among others. The Company mainly distributes its products within domestic market.
SAMCHULY BICYCLE CO., LTD 
