DIALOG SEMICONDUCTOR Plc.
Dialog Semiconductor announces commencement of the process for the first tranche of shares to be bought back pursuant to its share buyback programme authorised by shareholders at the annual general meeting on 2 May 2019.
Dialog Semiconductor Plc. / Key word(s): Share Buyback London, UK, June 5, 2019 – Today the board of directors of Dialog Semiconductor Plc (XETRA: DLG) (the Company), a provider of highly integrated power management, AC/DC power conversion, solid state lighting and Bluetooth(R) low energy wireless technology, has resolved to commence the process to buy back a first tranche of shares in accordance with the shareholder approvals granted at the Company’s Annual General Meeting (AGM) on 2 May 2019 relating to the share buyback programme (the 2019 Buyback Programme). The Company will give notice in writing to each of Barclays Bank PLC, Goldman Sachs International, HSBC Bank plc and Merrill Lynch International (together the Brokers) that it wishes to exercise its rights to purchase shares pursuant to the contingent forward share purchase contracts entered into with each of the Brokers on or around the date of the AGM, specifying the terms on which the Company is willing to purchase shares from the Broker that provides the most favourable pricing terms to the Company (the Preferred Broker). These terms include: – the maximum total cost of the shares to be purchased by the Company from the Preferred Broker under the first tranche of the 2019 Buyback Programme shall be EUR150.0 million and the minimum total cost shall be EUR125.0 million; and – the maximum maturity date for the first tranche of the 2019 Buyback Programme shall be December 5, 2019 and the minimum maturity date shall be October 31, 2019. Based on the assumption that the average price at which ordinary shares will be acquired by the Company is EUR28.43 per share, this would enable the Company to acquire up to approximately 5.3 million ordinary shares pursuant to the first tranche of the 2019 Buyback Programme. Once appointed, the Preferred Broker shall, acting independently as principal (without influence from the Company), purchase Certified Interests (CIs) in the Company on the Frankfurt Stock Exchange and, after acquiring the corresponding number of ordinary shares in the Company from Clearstream Banking AG, which is the registered shareholder for the shares underlying the CIs, shall sell these ordinary shares to the Company on certain settlement dates in accordance with the terms above and the contingent forward share purchase agreement with the Preferred Broker. Contact: Jose Cano Director, Investor Relations jose.cano@diasemi.com +44(0)1793756961 Information and Explanation of the Issuer to this News: Further details relating to the first tranche of the 2019 Buyback Programme, including details of the Preferred Broker, shall be announced separately before the purchase of the first tranche of shares commences. The Company will regularly provide information on the progress of the buyback, including the number of ordinary shares purchased by the Company, on its website at https://www.dialog-semiconductor.com/investor-relations/financial-news/share-buybacks. No more than one tranche of shares will be bought back at any one time by the Company and there can be no certainty that any further ordinary shares will be acquired by the Company following the conclusion of the first tranche of the 2019 Buyback Programme. For further information please contact: FTI Consulting London FTI Consulting Frankfurt About Dialog Semiconductor Forward Looking Statements
05-Jun-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Dialog Semiconductor Plc. |
Tower Bridge House, St. Katharine’s Way | |
E1W 1AA London | |
United Kingdom | |
Phone: | +49 7021 805-412 |
Fax: | +49 7021 805-200 |
E-mail: | jose.cano@diasemi.com |
Internet: | www.dialog-semiconductor.com |
ISIN: | GB0059822006 |
WKN: | 927200 |
Indices: | MDAX, TecDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 820089 |
End of Announcement | DGAP News Service |