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.