The Board of Directors of Top Engineering Co. Ltd. (KOSE:A065130) authorized a share repurchase program on December 3, 2012. Under the program, the company will repurchase up to 450,000 shares for KRW 2 billion based on the closing price of company's share on December 2, 2012. Repurchases will be made from the Korea Securities Dealers Automated Quotation market purchasing on exchange. The purpose behind the program is to stabilize the stock price and to enhance shareholder ... value. The company will repurchase up to 45,000 shares on any one day in the program. Repurchases will commence on December 4, 2012 and will continue until March 4, 2013. As of December 2, 2012, the company has 450,000 shares under direct ownership of treasury stock and 605,772 shares in treasury under trust agreement. Mirae Asset Securities Co., Ltd. acted as the broker to Top Engineering Co. Ltd.
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