Other Capital Market Information | 9 May 2011 19:18
Infineon Technologies AG / Capital return program
09.05.2011 19:18
Dissemination of a Post-admission Duties announcement, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Today Infineon Technologies AG decided to exercise the share buyback
authorization granted by the Annual General Meeting on February 17, 2011.
Infineon plans to return up to Euro 300 million of capital to investors
over a period extending until March 2013. Based on the current price, this
would permit repurchases of up to 40 million shares in total or up to four
percent of the share capital. The capital return may be effected through
writing put options on Infineon shares, through outright repurchases of
Infineon shares via the Xetra trading on the Frankfurt Stock Exchange, or
through repurchases of further portions of Infineon's outstanding
convertible bonds. Any shares bought back will be cancelled to reduce the
company's share capital or used for servicing employee options. The share
buyback 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').
The 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 acquisition 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 arithmetic mean of the
closing prices of the share in Xetra trading (or a comparable successor
system) on the last three exchange trading days prior to 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 volume at the stock exchange where the purchase is carried
out will be acquired. This average daily 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 11,860,985 shares for the
period of the program.
The planned share buyback program may be suspended and resumed at any time
within the time limits assigned by the Annual General Meeting and in
compliance with other statutory provisions. Irrespective thereof, Infineon
reserves the right to acquire and sell insignificant amounts of its own
shares and to implement other capital return measures.
Details of the share buyback 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/de/corporate/investor/ and are available
free of charge at the Company's business seat at Am Campeon 1-12, 85579
Neubiberg, Germany. The transactions executed will be announced in
accordance with Article 4 para. 4 of the EC Regulation.
Neubiberg, May 9, 2011
Infineon Technologies AG
The Management Board
09.05.2011 DGAP's Distribution Services include Regulatory Announcements,
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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
Deutschland
Internet: www.infineon.com
End of Announcement DGAP News-Service
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