Teems, Inc. announces an Equity Buyback for KRW 1,500 million worth of its shares.
November 13, 2013
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Teems, Inc. (KOSE:A134790) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,500 million worth of shares under the contract with Shinyoung Securities Co., Ltd. The repurchases will be made for stabilization of stock price. The company will make repurchases till November 13, 2014.
As of November 12, 2013, the company has 512 shares under direct ownership of treasury stock and 222,730 shares under trust agreement.
Sidiz, Inc., formerly Teems, INC., is a Korea-based company mainly engaged in the manufacture of furniture for educational use. The Company produces desks, bookcases, chairs, sofas, lecture desks, tables, cabinets, sinks, experiment benches, beds, storage closets and others. Its products are used for ordinary libraries, ubiquitous computing libraries, ordinary classrooms, dormitories, lecture rooms, laboratories, research rooms and others. It also involves in the furniture processing business. The Company distributes its products within domestic market and to overseas markets. On November 15, 2013, it announced that Sidiz, Inc and four related parties acquired a 4.07% stake of the Company. After the transaction, Sidiz, Inc and the four related parties had a combined 50.50% stake in the Company.
SIDIZ.INC. 
