SHARE BUYBACK PROGRAM 2017-2018
On March 29, 2018, ASMI completed its €250 million share buyback program 2017/2018.
On September 22, 2017, ASMI announced the start of a new share buyback program of its common shares. The program will end as soon as the aggregate purchase price of the common shares acquired by ASMI has reached €250 million, but ultimately on November 25, 2018. ASMI strives to complete the program well before that date. The program will in any event take place within the mandate given by the shareholders during the Annual General Meeting of Shareholders of May 22, 2017.
This share buyback program was executed by a third party. ASMI has the intention to reduce its capital by withdrawing the repurchased shares after having received the approval from its shareholders. The repurchase program is part of ASMI's commitment to use excess cash for the benefit of its shareholders.
The 2017/2018 share buyback program started on September 22, 2017, and ended on March 29, 2018. In total, we repurchased 4,353,292 shares at an average price of €57.43, including expenses, under the 2017/2018 program.
On November 2, 2017, ASMI announced a partial sale of a stake of approximately 9% in ASMPT, whereby ASMI received proceeds of approximately €445 million. On February 28, 2018, ASMI announced that it planned to use €250 million for a new share buyback program. The start of this new share buyback program has not yet been announced.
April 3: During March 26-29, 2018, the final week of the 2017/2018 share buyback program, we repurchased 31,637 shares at an average price of EUR 60.60, including expenses.
Of the total program, 100% has been repurchased.