STMicroelectronics Announces Reallocation of Shares Repurchased under its Share Buy-back Program
28 July 2020 - 4:15PM
STMicroelectronics Announces Reallocation of Shares Repurchased
under its Share Buy-back Program
STMicroelectronics Announces Reallocation
of Shares Repurchased under its Share Buy-back Program
Geneva, Switzerland, July 28, 2020
– STMicroelectronics (NYSE: STM) (the
“Company” or “STMicroelectronics”), a global semiconductor leader
serving customers across the spectrum of electronics applications,
announced on November 5, 2018 the launch of a share buy-back
program of up to $750 million to be executed within a 3 year period
(subject to shareholder and other approvals from time to time) (the
“Programme”). The Company announces today that it will utilize a
certain number of shares (the “Settlement Treasury Shares”),
repurchased under the Programme for delivery of shares in
connection with the early redemption of its outstanding US$750
million Zero Coupon Convertible Bonds due 2022 (ISIN: XS1638064953,
the “2022 Convertible Bonds”) pursuant to the Net Share Settlement
provisions of Condition 6(a)(ii) of the Terms and Conditions of the
2022 Convertible Bonds.
The Settlement Treasury Shares were initially
repurchased for the purpose of meeting the Company’s obligations in
relation to its employee stock award plans and the Settlement
Treasury Shares will be reallocated to settle the 2022 Convertible
Bonds. The Programme is carried out in accordance with the
authorisations of the Supervisory Board and the provisions of the
Market Abuse Regulation (EU) 596/2014 and Commission Delegated
Regulation (EU) 2016/1052. The Company will announce details of any
share purchases effected pursuant to the Programme, as required by
applicable laws and regulations.
About STMicroelectronics
At STMicroelectronics, we are 46,000 creators
and makers of semiconductor technologies mastering the
semiconductor supply chain with state-of-the-art manufacturing
facilities. An independent device manufacturer, we work with our
100,000 customers and thousands of partners to design and build
products, solutions, and ecosystems that address their challenges
and opportunities, and the need to support a more sustainable
world. Our technologies enable smarter mobility, more efficient
power and energy management, and the wide-scale deployment of the
Internet of Things and 5G technology. Further information can be
found at www.st.com
Inside information
This press release relates to the disclosure of
information that qualified, or may have qualified, as inside
information within the meaning of Article 7(1) of the EU Market
Abuse Regulation.
* * *
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For further information, please contact:
INVESTOR RELATIONS:Céline
BerthierGroup VP, Investor RelationsTel:
+41.22.929.58.12celine.berthier@st.comMEDIA
RELATIONS:Nelly DimeyMedia Communications DirectorTel: +
33 1 58 07 77 85nelly.dimey@st.com
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