DGAP-News: Dialog Semiconductor Plc. / Key word(s): Share Buyback
London, UK, June 12, 2019 - Dialog Semiconductor Plc (the Company) refers to its ad-hoc announcement dated June 5, 2019 (Ad-hoc announcement in accordance with Article 17 of Regulation
The Company today announces that Goldman Sachs International has been appointed the Preferred Broker (as defined in the Ad-Hoc Announcement) in relation to the first tranche of the Company's share buyback programme authorised by shareholders at the annual general meeting on 2 May 2019 (the 2019 Buyback Programme). The material terms on which the Company will purchase ordinary shares from the Preferred Broker in relation to the first tranche of the 2019 Buyback Programme are as follows:
- the maximum total cost of the shares to be purchased by the Company from the Preferred Broker shall be EUR150.0 million;
- the minimum total cost of the shares to be purchased by the Company from the Preferred Broker shall be EUR125.0 million;
- the earliest date on which the Preferred Broker may purchase Certified Interests (CIs) in the Company on the Frankfurt Stock Exchange (the FSE) for the purpose of delivering ordinary shares in the Company to the Company shall be 14 June 2019;
- the latest date on which the Preferred Broker may purchase CIs on the FSE for the purpose of delivering ordinary shares in the Company to the Company shall be 5 December 2019;
- the minimum maturity date shall be 31 October 2019 and the maximum maturity date shall be 5 December 2019; and
- the price per share to be paid by the Company is equal to the average of the daily volume weighted average price (Average VWAP) paid for CIs on the FSE for each day during the period of the first tranche of the 2019 Buyback Programme (the Trading Period) less a percentage discount.
During the Trading Period, the Preferred Broker may, acting independently as principal (without influence from the Company), purchase CIs in the Company on the FSE. Goldman Sachs International (and its affiliates) may also, at their discretion, undertake other transactions in the CIs (including sales and hedging activities) throughout the term of the first tranche of the 2019 Buyback Programme in order to hedge their exposure to the programme provided that any CIs to be purchased in relation to the programme shall be purchased:
- at a daily volume not to exceed 25% of the average daily volume traded on the FSE over the previous 20 trading days; and
- at a price not to exceed the higher of (i) 105% of the average middle market closing price of the CIs as derived from XETRA over the last 5 trading days; or (ii) the higher of the last independent trade or the highest current independent bid on the FSE.
The Company has not previously purchased any ordinary shares pursuant to the shareholder approvals granted at the Company's annual general meeting on 2 May 2019. Details of any ordinary shares purchased by the Company will be made available on the Company's website at https://www.dialog-semiconductor.com/investor-relations/financial-news/share-buybacks.
For further information please contact:
FTI Consulting London
FTI Consulting Frankfurt
About Dialog Semiconductor
Forward Looking Statements
Director, Investor Relations
12.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Dialog Semiconductor Plc.|
|Tower Bridge House, St. Katharine's Way|
|E1W 1AA London|
|Phone:||+49 7021 805-412|
|Fax:||+49 7021 805-200|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||822871|
|End of News||DGAP News Service|