Telcoware Co Ltd's closed an Equity Buyback in the amount of KRW 8000 mm
May 21, 2012 at 12:00 am EDT
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The Board of Directors of Telcoware Co Ltd (KOSE:A078000) authorized a tender offer on April 26, 2012. Under the program, the company will repurchase up to 1,000,000 shares at KRW 8,000 per share for KRW 8 billion pursuant to a trust agreement with KTB Investment & Securities Co., Ltd. The purpose of the tender offer is to enhance the value of the stock and the shareholders. The repurchases will commence from April 30, 2012 and will continue till May 21, 2012. As of April 25, 2012, the company has 3,316,074 shares in treasury under direct ownership of treasury stock. KTB Investment & Securities Co., Ltd. acted as the broker for the buyback.
Telcoware Co Ltd. completed its tender offer on May 21, 2012.
On May 25, 2012, as per the final results, the company has repurchased 1,000,000 shares at KRW 8,000 per share for KRW 8 billion.
TELCOWARE CO.,LTD. is a Korea-based company engaged in the development, sale and provision of software for mobile communication industry. The Companyâs business includes voice core network solutions, such as home location register (HLR), gateway location register (GLR), authentication center (AC), number portability data base (NPDB), dual stack HLR and others; wireless data solutions, such as fixed mobile convergence gateway (FMCG), Internet protocol multimedia subsystem (IMS), authorization and accounting (AAA) and others, as well as access network solutions, such as gigabit passive optical network solutions. It also involves in the element technology business.