Almere, The Netherlands June 5, 2018 ASM International N.V. (Euronext Amsterdam: ASM) ("ASMI") today announces the start of a share buyback program of ASMI's common shares up to €250 million This program follows on ASMI's announcement on February ...
Almere, The Netherlands
June 5, 2018
ASM International N.V. (Euronext Amsterdam: ASM) ("ASMI") today announces the start of a share buyback program of ASMI's common shares up to €250 million
This program follows on ASMI's announcement on February 28, 2018, that it intended to use €250 million of the proceeds of the partial sale of a stake of approximately 9% in ASMPT for a new share buyback program. The previous €250 million share buyback program that was announced on September 22, 2017, was completed on March 29, 2018.
This share buyback program will be executed by a third party. The program commences on June 6, 2018, and will end as soon as the aggregate purchase price of the common shares acquired by ASMI has reached €250 million, but ultimately on November 28, 2019. ASMI strives to complete the program well before that date. The program will take place within the limitations of the authority granted by the Annual General Meeting of shareholders held on May 28, 2018.
ASMI has the intention to reduce its capital by withdrawing the shares repurchased as part of the new €250 million share buyback program, save for such number of treasury shares as may be necessary to fund ongoing share and option programs for employees and board members. This withdrawal of shares is intended to be proposed to the Annual General Meeting in 2019. The repurchase program is part of ASMI's commitment to use excess cash for the benefit of its shareholders.
ASMI will update the market on the progress of the share buyback program on a weekly base. This information will also be published on the ASMI website (www.asm.com).
About ASM International
ASM International NV, headquartered in Almere, the Netherlands, its subsidiaries and participations design and manufacture equipment and materials used to produce semiconductor devices. ASM International, its subsidiaries and participations provide production solutions for wafer processing (Front-end segment) as well as for assembly & packaging and surface mount technology (Back-end segment) through facilities in the United States, Europe, Japan and Asia. ASM International's common stock trades on the Euronext Amsterdam Stock Exchange (symbol ASM). For more information, visit ASMI's website at www.asm.com.
Cautionary Note Regarding Forward-Looking Statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, epidemics and other risks indicated in the Company's reports and financial statements. The Company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
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Source: ASM International NV via Globenewswire
Source(s) : ASM International NV
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