ISIN Code DE0006231004 / WKN 623100
On November 19, 2013 Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) has resolved upon a new capital returns program. This program allows for returning up to Euro 300 million of capital until September 30, 2015. 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. The basis of this is 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 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 capital returns 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.
Details of the capital returns program and the current status of put options issued and shares acquired will be regularly published by Infineon on this Website:
|Overview of the shares acquired under the capital returns program using derivatives (sale of put options)
(according to Art. 4 para. 4 of the Regulation (EC) No. 2273/2003)*
|Date of the options contract||Designation of option||Number of options/shares**||Percentage of share capital***||Strike price (in €)||Expiry date||Shares acquired/total price
* The sale of a put option may result in hedging activities of the option holder to hedge his risk position. This may lead to higher trading volumes.
** One option entitles to acquire one share.
*** Share capital at the time the resolution on the authorization according to Sec. 71 para. 1 No. 8 of the German Stock Corporation Act was passed.
|Overview of convertible bond buybacks under the capital returns program as of November 2013, ISIN: DE000A1AG4K7, WKN: A1AG4K|
|Trade date||Principle amount (€)||Ø Price||Market value (€)||Underlying shares|
|Number||in % of share capital|
|In total / Ø||10,500,000||337.0%||35,387,070||4,725,200||0.44%|