19.11.2013
Infineon Technologies AG DE0006231004
DGAP-Adhoc: Infineon Technologies AG: Infineon has resolved upon new capital returns program
Infineon Technologies AG / Key word(s): Miscellaneous/Share Buyback
19.11.2013 12:19
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc announcement according to § 15 WpHG and announcement according to
Art. 4 para. 2 of the Commission Regulation (EC) No. 2273/2003
Infineon Technologies AG has resolved upon a new capital returns program.
This program allows for returning up to Euro 300 million of capital until
September 30, 2015. Based on the current share price, this would permit
repurchases of up to approx. 42 million shares in total or up to approx.
four percent of the share capital. The capital returns may be effected
through the writing of put options on Infineon shares or through outright
repurchases of Infineon shares via the Xetra trading on the Frankfurt Stock
Exchange. As such, Infineon would make use of the share buyback
authorization granted by the Annual General Meeting on February 28, 2013.
Furthermore, the company may repurchase further portions of the outstanding
convertible bonds.
The share buyback exclusively serves the purposes of cancelling shares to
reduce the company's share capital, settling convertible bond obligations
in shares as well as allotting shares to employees, board members of
associated companies and members of the management board. Incidentally, it
will be carried out in accordance with Section 14 para. 2 and Section 20a
para. 3 of the German Securities Trading Act in connection with the
provisions of Commission Regulation (EC) No. 2273/2003 of December 22, 2003
('EC Regulation'). Any capital return will be carried out in compliance
with the principle of equal treatment according to objective criteria and
considering current share prices.
The capital returns program will start at the earliest after publication of
this announcement and the program may be suspended and resumed at any time
within the time limits assigned by the Annual General Meeting and in
compliance with other legal provisions. Beyond the scope of the program
announced herewith, Infineon reserves the right to acquire and sell
insignificant amounts of its own shares and to implement other measures
economically equivalent to capital return measures.
Further details of the capital returns program and the current status of
put options issued and shares acquired will be regularly published by
Infineon on the Internet at www.infineon.com/cms/en/corporate/investor/ and
are available free of charge at the Company's business seat at Am Campeon
1-12, 85579 Neubiberg, Germany. In particular the transactions executed
will be announced in accordance with Article 4 para. 4 of the EC
Regulation.
The share buyback will be carried out using one or more banks making their
decisions on the date of acquisition of the shares independently of and
without influence by Infineon; otherwise, the provisions of Article 6 para.
3 of the EC Regulation will be observed.
The price agreed in the derivative (excluding incidental costs but taking
into account the option premium paid or received) for the acquisition of a
share when options are exercised may be no more than 10 percent above and
no more than 30 percent below the price of the Company in Xetra trading (or
a comparable successor system) determined by the opening auction on the day
of the conclusion of the derivative transaction.
If shares are repurchased through the stock exchange, the purchase price
per share (excluding incidental costs) paid by the Company may not be more
than 10 percent above or below the price established in the Xetra (or
comparable successor system) opening auction on the trading day.
In accordance with the EC Regulation, the purchase price paid by Infineon
will not exceed the price of the last independent trade or the highest
current independent bid at the stock exchange where the purchase is carried
out. Decisive is the higher of both values.
Furthermore, according to the EC Regulation, no more than 25 percent of the
average daily trading volume at the stock exchange where the purchase is
carried out will be acquired. This average daily trading volume is based on
the average daily volume traded in the month preceding this disclosure of
the share buyback program and, based thereon, amounts to 8,071,537 shares
for the period of the program.
Neubiberg, November 19, 2013
Infineon Technologies AG
The Management Board
About Infineon
Infineon Technologies AG, Neubiberg, Germany, offers semiconductor and
system solutions addressing three central challenges to modern society:
energy efficiency, mobility, and security. In the 2013 fiscal year (ending
September 30), the Company reported sales of Euro 3.84 billion with close
to 26,700 employees worldwide. Infineon is listed on the Frankfurt Stock
Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market
OTCQX International Premier (ticker symbol: IFNNY).
19.11.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Infineon Technologies AG
Am Campeon 1-12
85579 Neubiberg
Germany
Phone: +49 (0)89 234-26655
Fax: +49 (0)89 234-955 2987
E-mail: [email protected]
Internet: www.infineon.com
ISIN: DE0006231004
WKN: 623100
Indices: DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart;
Terminbörse EUREX
End of Announcement DGAP News-Service
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