DongYang P&F Co., Ltd. closed an Equity Buyback in the amount of KRW1545.4 mm
July 04, 2012 at 12:00 am EDT
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The Board of Directors of DongYang P&F Co., Ltd. (KOSE:A104460) authorized a share repurchase program on May 15, 2012. Under the program, the company will repurchase up to 200,000 shares for KRW 1.5 billion based on the closing price of company's share as on May 14, 2012, pursuant to a trust agreement with Hanwha Securities Co., Ltd. The repurchases will be made on the exchange through Korea Securities Dealers Automated Quotation market. The purpose behind the program is to stabilize the stock price. The company will repurchase up to 20,000 shares on any one day in the program. The repurchases will commence from May 16, 2012 and will continue till August 15, 2012. As of May 15, 2012, the company has 200,000 shares in direct ownership of treasury. Hanwha Securities Co., Ltd. acted as the broker to the company for the buyback.
DongYang P&F Co., Ltd. completed its share repurchase program on July 4, 2012. Under the program, the company repurchased 200,000 shares for KRW 1.55 billion.
DYPNF Co Ltd, formerly Dong Yang P&F Co Ltd, is a Korea-based company engaged in the design and manufacturing of bulk handling systems. The Company designs, manufactures, installs and tests bulk handling systems. The Companyâs products consist of pneumatic conveying systems, mechanical conveying systems and factory automation systems, which are used for fine chemical, plastic, steel, ceramic, fertilizer, food, construction and other industries. The Company distributes its products within domestic market and to overseas markets.