ASM INTERNATIONAL ANNOUNCES DETAILS OF SHARE BUYBACK PROGRAM
Almere, The Netherlands
June 2, 2020, 8 a.m. CET
ASM International N.V. (Euronext Amsterdam: ASM) today announces the start of a share buyback program of ASMI's common shares up to €100 million.
This program follows on ASMI's announcement on February 25, 2020, that the Management Board authorized a share buyback program for up to €100 million. The program commences today, June 2, 2020, and will end as soon as the aggregate purchase price of the common shares acquired by ASMI has reached €100 million, but ultimately on November 17, 2021.
The Board concluded, after a thorough analysis in light of the increased economic uncertainty due to the COVID-19 pandemic, that the company’s financial position provided sufficient strength to both continue investments in the growth of the business, which is the key priority, and to proceed with the previously announced dividends, which were paid in May 2020, and share buyback program. The Board will remain closely monitoring the company’s financial position.
The share buyback program will take place within the limitations of the authority granted by the shareholders during the Annual General Meeting which was held on May 18, 2020. This share buyback program will be executed by a third party. ASMI has the intention to reduce its capital by withdrawing the shares repurchased as part of this new €100 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.
ASMI will update the market on the progress of the share buyback program on a weekly base, starting on June 8, 2020. 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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ASMI Announces Details of Share Buyback Program -20200602
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