STMicroelectronics Updates on Share Repurchase Program
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STMicroelectronics Reveals Share Repurchase Program Details
STMicroelectronics N.V., a prominent player in the semiconductor industry, has provided comprehensive information regarding its common share repurchase program. This initiative underscores the company's strategic direction aimed at enhancing shareholder value and ensuring adaptability within the fast-evolving electronics market.
Overview of the Share Repurchase Program
The share repurchase program was originally outlined in a press release earlier and was subsequently approved through a shareholder resolution. This program reflects the company’s commitment to its investors and is part of a broader strategy for managing its capital efficiently, ensuring that shareholder interests remain a top priority.
Recent Transactions in the Program
In the recent period, specifically between late August and early September, STMicroelectronics completed significant share repurchases. During this timeframe, the company successfully bought back 69,670 ordinary shares at an average price of EUR 28.0277, totaling nearly EUR 1.95 million.
Purpose Behind These Transactions
The rationale for these repurchases falls under compliance with obligations from share option schemes offered to employees and key personnel within the company's hierarchy. By engaging in these share buybacks, STMicroelectronics aims to support the growth initiatives of its workforce while simultaneously reinforcing its market position.
Repurchase Details and Impact
Following the completion of these transactions, STMicroelectronics now retains a total of 9,735,586 shares in its treasury, which equates to approximately 1.1% of its total issued share capital. Retaining such a substantial number of shares not only demonstrates the company's confidence in its long-term strategy but also helps stabilize the share price during market fluctuations.
Further Disclosure of Transactions
Adhering to applicable regulations, STMicroelectronics has committed to providing a detailed breakdown of these transactions. Stakeholders and investors can find this information on the official STMicroelectronics website, ensuring transparency throughout the share repurchase process.
About STMicroelectronics
As a leader in semiconductor technologies, STMicroelectronics employs a dedicated workforce of over 50,000 professionals globally. The company prides itself on its capability to navigate the semiconductor supply chain while fostering sustainable practices and innovations within the industry. STMicroelectronics collaborates with more than 200,000 satisfied customers to create advanced solutions and ecosystems that not only meet but exceed industry standards.
Commitment to Sustainability
STMicroelectronics is on a mission to achieve carbon neutrality by 2027 across various operational scopes. This commitment emphasizes their responsibility toward fostering a sustainable future through advanced semiconductor technologies that enable smart energy management and mobility solutions.
Contact Information
For more details or inquiries relating to investor relations, contact Céline Berthier, Group VP, Investor Relations at +41.22.929.58.12 or via email at celine.berthier@st.com. For media relations, reach out to Alexis Breton at +33.6.59.16.79.08 or alexis.breton@st.com.
Frequently Asked Questions
What is the purpose of the share repurchase program?
The share repurchase program is designed to enhance shareholder value and comply with obligations arising from employee share schemes.
How many shares has STMicroelectronics repurchased recently?
Recently, STMicroelectronics repurchased 69,670 ordinary shares during the specified period.
What was the average price per share during the recent buyback?
The average purchase price per share during the recent buyback was EUR 28.0277.
Why is transparency important in this process?
Transparency helps maintain investor trust and ensures compliance with regulatory requirements, allowing stakeholders to stay informed about the company’s financial strategies.
Where can I find more information regarding the repurchase transactions?
Detailed information regarding the repurchase transactions can be accessed on the official STMicroelectronics website.
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