Ad-hoc | 20 April 2006 08:52

AT&S cancels own shares and launches share repurchase program

Ad hoc announcement transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— The Board of Management of AT&S has today announced its decision in accordance with the authorization granted by the 11th Annual General Meeting of July 5, 2005, to cancel 2,100,000 own shares repurchased in the period between January 1, 2002 and April 30, 2003 and in so doing to reduce the company’s authorized share capital. The total number of authorized shares now amounts to 25,900,000, of which 58,180 will continue to be held by AT&S. The free float of AT&S shares now rises to about 57%. At the same time the Board of Management of AT&S also decided in accordance with the authorization granted by the 11th Annual General Meeting of July 5, 2005, to resume its share repurchase program with effect from May 15, 2006. Based on the authorization granted by the Annual General Meeting, AT&S has the right to repurchase up to 10% of the authorized share capital as it stood at the last Annual General Meeting, i.e., up to a further 641,820 shares, by January 4, 2007. The share repurchase will be carried out through Xetra in accordance with Implementing Regulation (EC) 2273/2003. AT&S intends to use the repurchased shares either to reduce the share capital or to service its share option scheme. Regular updates on the progress of the share repurchase scheme are posted on the AT&S homepage www.ats.net (see under investor relations). These measures form part of AT&S’s longer-term strategy to optimize the balance sheet structure of the Group and to give investors a greater share in the Group’s success. In the light of AT&S’s ability to fund even large-scale organic growth — such as construction of the second factory in Shanghai — from its healthy cash flow, and given that there are no short-term financing requirements that exceed the existing facilities, this move should not be seen as a departure from our strategy of pursuing sustainable growth. AT&S forecasts revenue growth of over 20% for each of the two coming financial years. AT&S also continues to have the option of making a capital increase under the authorization granted by the Annual General Meeting. This option will however only be exercised for larger acquisitions which can not be financed out of cash flow or borrowings while maintaining an acceptable level of gearing. In line with this long-term strategy and conditional on authorization by the Annual General Meeting, there will be further share repurchases in future followed by reductions in share capital. For more information please contact René Berger, IRO, Tel. +43 (1) 68300 9215, e-mail: r.berger@ats.net, or see www.ats.net. (c)DGAP 20.04.2006 ————————————————————————— language: English emitter: AT&S Austria Technologie & Systemtechnik AG Fabriksgasse 13 8700 Leoben Österreich phone: +43 (1) 3842 200-0 fax: +43 (1) 3842 200-216 email: ir@ats.net WWW: www.ats.net ISIN: AT0000969985 WKN: 922230 indexes: TecDAX stockmarkets: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service —————————————————————————