Sangsin Brake Co., Ltd.'s Equity Buyback in the amount of KRW5000 mm has expired
October 26, 2012 at 12:00 am EDT
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The Board of Directors of Sangsin Brake Co., Ltd. (KOSE:A041650) authorized a share repurchase program on October 27, 2011. Under the program, the company will repurchase up to KRW 5 billion worth own shares pursuant to a trust agreement with Kookmin Bank. The purpose behind the program is to stabilize the stock price. Repurchases will commence on October 27, 2011 and will continue until April 26, 2012. As of October 26, 2011, the company has 1,068,180 shares in treasury under trust agreement.
On April 26, 2012, the company extended its share repurchase program until October 26, 2012. Kookmin Bank, Shinyoung Securities Co., Ltd., Woori Investment & Securities Co., Ltd. and LIG investments securities acted as brokers to the company for the buyback.
Sangsin Brake Co., Ltd's share repurchase program expired on October 26, 2012. Under the plan, the company repurchased 1,035,970 shares.
SANGSIN BRAKE is a Korea-based company principally engaged in the manufacture of automobile components. The Company operates its business through two segments: brake friction materials segment and equipment segment. Its brake friction segment engages in the manufacture of brake friction materials, including brake pads, brake shoe assemblies, brake assemblies and linings for passenger cars, trucks, buses and others under the brand name Hi-Q and HARDRON. Its equipment segment engages in the manufacture of friction materials manufacture equipment. The Companyâs main clients are Hyundai Motor, Tata Deawoo Commercial Vehicle, Dymos Incorporated, Hyundae Mobis, Mando Corporation, Korea Delphi Automotive Systems Corporation, GM KOREA COMPANY and others.
SANGSIN BRAKE CO., LTD. 
