This meeting is being broadcast live over the Internet at our website, www. Kns.com. So to help our listeners, if anyone should have a question during the question and answer session later in the meeting, please use the microphone, which will be available in the audience. In addition, an audio recording will be made of the entire meeting, including any questions or comments that you may have. The audio recording will be available at our website for a limited time following the meeting.
I also want to point out that in addition to the historical statements, remarks and comments today may include forward looking statements, which are covered under the Safe Harbor provisions of the 1995 Private Securities Litigation Reform Act. Actual results may turn out to be significantly better or worse than indicated by any forward looking statements made this afternoon. For a more complete discussion of the risks associated with the operations of K and S, please refer to the company's SEC filings, especially to the 10 ks for the year ending September 30, 2017. I'd like to now introduce the other members of the Board of Directors of the company who are all present. Mr.
Ryan R. Bachman, Mr. Fusan Chen, Mr. Peter T. Kong, Mr.
Xin Fu Lim, Mr. Gregory F. Nilschak and Ms. Mui Seung Yeo. I now call on Ms.
Waters, the Secretary of the company, for the required formal announcements.
Mr. Chairman, I present a copy of the notice of Internet availability of the notice of meeting and proxy statements, the proxy card and the annual report. I also present an affidavit as to the mailing on January 25, 2018 of the notice of Internet availability to each person who is a stockholder of record on December 8, 2017, the record date of the meeting. The notice of meeting called this meeting for 4:30 p. M.
On March 6, 2018 at Culik and Safa Industries Inc, 23A Serangoon North Avenue 5, No. 101, Singapore for the purposes of electing a director, ratifying the appointment of Schweitzer House Coopers LLP as independent registered public accounts for the 2018 fiscal year, a non binding vote on executive compensation and transacting such other business as may probably come before the meeting. I have a complete list of stockholders entitled to vote at this meeting. The list is available for the inspection by the stockholders during the meeting for the purposes of the meeting.
The affidavit of mailing and the attachments thereto will be filed with the minutes of the meeting. As Chair of the meeting, I appoint Peter Daskovich as the Judge of Election. If you are acting as a proxy for a stockholder, please file your written proxy with the Secretary if you have not already done so. If you desire to speak at the meeting, when I recognize you, please rise and give your name and state whether you are a proxy holder or a shareholder. If you hold a proxy, please give the name of your principal.
The judge of election has informed me that there was a quorum present. Our custom has been to dispense with the reading of the minutes of the last annual meeting, Unless there is a request to let the minutes of the last meeting to be read, I will move on to the 3 matters submitted to the vote of the shareholders as outlined by Ms. Walters. We will defer voting until all matters are properly before the meeting and ready for voting. The Board of Directors has nominated Peter T.
Kong for reelection at the annual meeting to serve until 2022 annual meeting and until his successor has been duly elected and qualified. The second order of business is the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accountants. The Audit Committee of the Board appointed PricewaterhouseCoopers LLP as the company's independent registered public accountants for fiscal 2018. As you know, PricewaterhouseCoopers has served as the company's independent registered public accounting firm for the last fiscal year. I'd like to introduce Hans Coopmans, of PricewaterhouseCoopers.
Hans? Thank you. If any shareholder has a question for PricewaterhouseCoopers, they can be raised during the question and answer period. The 3rd order of our business is the advisory vote to approve on a non binding basis the overall compensation of the company's named executive officers. If there is no discussion, we can now proceed to the voting of the matters before the meeting.
As has been customary, we will vote on all matters by ballot. I'm now asking any stockholders who have not voted online via telephone or have not mailed or delivered in by proxy or who wish to change a previous proxy vote, who wishes to vote in person to raise his or her hand so that the secretary can give you a ballot. While we're waiting for the report of the Judge of Elections, I would like to ask Mr. Fusun Chen, our President and Chief Executive Officer to make a few remarks.
Thanks, Gary. During the year, we have significantly optimized our business, materially impact expand our market leading position and successfully deliver solid financial performance. Shortly after joining the company in October 2016, we prioritized several untapped and sizable opportunities within the core business. We immediately refined our approach and defined a new strategy for the LED market and our recurring revenue opportunities, while we continue to pursue several new advanced packaging and automotive prospects. By the end of the fiscal 2017, LOE shipments increased by nearly 160% and we developed a plan to increase the aftermarket product and solution, APS revenue mix from 20% to 30% over the coming 3 years.
To better enhance our staff on these opportunities, organizational improvements were necessary. We first consolidate and move P and L responsibilities for our recurring revenue business to the sales organization. This collective recurring revenue business then become the APS segment. Clearly, centralized ownership of APS has enhanced our ability to grow a stable base of high margin business. Later in the year, we decentralized our competency based R and D team and relocate a portion of high value organizations under direct business unit ownership.
This provides autonomy and accountability on the direction of our development initiative, better facilitating several parallel growth opportunities. The revised R and D structure still permit common centralized competency in electrical and software engineering and also provide a dedicated corporate team focused on the corporate initiatives, such as new partnership, M and A and Emerging Technology Exploration and the divisions. As we look ahead, we have a strong foundation to drive meaningful and sustainable value creation. Our Terminix core leadership position continues to expose to a major industry trend and we have a clear plan to maximize the full potential of these opportunities. Additionally, we have the necessary resources to optimize and expand our core semiconductor, advanced packaging and automotive market positions, while we continue to allocate resources for ongoing shareholder opportunities.
We continue to leverage our strong balance sheet to opportunistically return capital to investors. During fiscal 2017, we completed the 1st repurchase program in the history of Helix and Sofa by repurchasing $100,000,000 worth of share outstanding through open market transactions. Subsequently, in August of 2017, we received approval for an additional $100,000,000 repurchase program. Through today's call, we have repurchased approximately $23,000,000 under the new program. As we monitor and assess the evolving landscape of our industry, we continue to optimize and maximize our existing position, executing on new opportunities to drive profitability and create meaningful shareholder value.
I thoroughly appreciate the support from the investment communities and look forward to taking QD and SOVA to a new
Thank you, Fusan. And now it has been customary, we're happy to entertain any questions you might have. I ask that each person who has a question please use the microphone to give us his or her name and state whether he or she is a stockholder or a proxy holder. If there are no further questions, I'm advised that the Judge of Election has completed the count of votes and delivered the report to the Secretary. The Secretary will announce the results as reflected in the Judge's report.
Judge's report shows 62,000,569,938 shares of common stock present in person and or present by proxy, which the judge has certified to be a quorum of the outstanding common stock on all matters presented to the meeting. The judge's report further shows that sufficient votes forecast for the election of Mr. Peter T. Kang for the ratification of the appointment of PricewaterhouseCoopers, LLP and for approval on a non binding basis the overall compensation of the company's named executive officers.
In accordance with the results certified by the judge of election, I hereby declare that Mr. Peter T. Kong has been elected a Director for the term for which he was nominated and that the appointment of PricewaterhouseCoopers LLP as independent registered public accountants for the 2018 fiscal year has been ratified and that the shareholders have approved on a non binding basis the overall compensation of the company's named executives. I ordered that the report of the Judge of Elections be filed with the minutes of the meeting. The meeting is now adjourned.
On behalf of all the directors, officers and employees, I thank you for attending the meeting. There will be light refreshments in the back of the room, which I invite you to share with her. Thank you.