ELC: Board resolution on share buyback
ELC: Board resolution on share buyback
According to the Board resolution dated March 27, 2018, the Board of Directors of Electronics Communications Technology Investment Development Corporation approved the following issues:
1) The plan for share buyback:
- Number of share to be repurchased: 1,000,000 shares
- Buying price: market price
- Financial resource: the capital surplus, the investment development fund, the undistributed after-tax profit.
- Trading method: order-matching or put-through
2) The Board of Directors approved to raise the ownership ratio at Elcomplus Joint Stock Company from 51% (765,000 shares) to 93% (1,395,000 shares) by purchasing additional 630,000 shares.
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