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Article 2
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A company repurchasing its own shares at a centralized securities exchange market or at the place of business of a securities firm shall, within two days counting from and inclusively of the day on which the resolution was made at a meeting of the board of directors, announce the repurchase, and report the below listed items to the Financial Supervisory Commission (FSC):
- Purpose of the repurchase.
- Types of shares to be repurchased.
- Ceiling on total monetary amount of the repurchase.
- Planned period for the repurchase, and number of shares to be repurchased.
- Price range of the shares to be repurchased.
- Method for the repurchase.
- Number of shares held at the time of reporting.
- Any repurchases within three years prior to the time of reporting.
- Any repurchases that have been reported but not completed.
- Record of decision to repurchase shares resolved by the board of directors.
- Rules for Transfer of Shares provided in Article 10 of these Regulations.
- Rules for Conversion of Shares or Rules for Subscription of Shares provided in Article 11 of these Regulations.
- Declaration that the financial state of the company was considered at a meeting of the board of directors and that the maintenance of its capital would not be affected by the repurchase.
- Appraisal by a certified public accountant or securities firm of the reasonableness of the price of the shares to be repurchased.
- Other items specified by the FSC.
Within two months counting from and inclusively of the day of expiration of the reporting period for the planned repurchase, the company may, through a majority vote at a meeting of the board of directors attended by at least a two-thirds quorum, amend the originally reported purpose of the repurchase by filing a report with the FSC.
Reporting documents filed pursuant to these Regulations shall be prepared in the format prescribed by the FSC and submitted in bound form. The same shall apply to any subsequent supplementation.
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