Cuckoo Electronics Co., Ltd. announces an Equity Buyback for KRW 15,000 million worth of its shares.
August 17, 2016
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Cuckoo Electronics Co., Ltd. (KOSE:A192400) announces a share repurchase program. Under the program, the company will repurchase up to KRW 15,000 million of its shares pursuant to a trust contract with Korea Investment & Securities Co., Ltd. The purpose of the share repurchase program is to stabilize the share price and to improve shareholder value. The share repurchase program is valid until February 18, 2017. As of August 17, 2016, the company had no shares in treasury within scope available for dividend and had 1,605,504 shares in treasury through other repurchase.
Cuckoo Holdings Co Ltd, formerly Cuckoo Electronics Co Ltd, is a Korea-based company mainly engaged in the production and sale of rice cookers. The Company is involved of the manufacture and sale of household and kitchen appliances such as rice cookers. The rice cookers include induction heat (IH) pressure cookers, heat plate pressure cookers and electric heat cookers. In addition to rice cookers, kitchen appliances include electric ranges, blenders, electric grills, dish dryers and electric kettles. Household appliances include air cleaners, dehumidifiers, massage chairs, bidets, cleansers, humidifiers. In addition, the Company engages in the management consulting and real estate rental businesses.
CUCKOO HOLDINGS CO., LTD. 