Sangsin Brake Co., Ltd.'s Equity Buyback in the amount of KRW5000 mm has expired
August 21, 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 August 19, 2011. Under the program, the company will repurchase up to KRW 5 billion worth own shares pursuant to a trust agreement with Kookmin Bank to be signed on August 22, 2011. The purpose behind the program is to stabilize the stock price and to enhance shareholder value. Repurchases will commence on August 22, 2011 and will continue until February 21, 2012. As of August 19, 2011, the company has no shares in treasury.
On February 20, 2012, the company extended its share repurchase program until August 21, 2012. As of November 22, 2011, the company has repurchased 1,068,180 shares for KRW 4.96 billion. Kookmin Bank and LIG securities acted as brokers to the company for the buyback.
Sangsin Brake Co., Ltd.'s share repurchase program expired on August 21, 2012.
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. 
