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Diodes Incorporated Announces $100 Million Stock Repurchase Program
“Our share repurchase program demonstrates our commitment to delivering shareholder value,” stated Dr. Keh-Shew Lu, President and Chief Executive Officer. “Our strong balance sheet and cash flow allows us to continue to invest in our long-term strategy and also return capital to our stockholders. Repurchases will offset in part the dilution resulting from equity compensation grants and supplement earnings per share growth.”
The share repurchase program does not require the Company to purchase a specific number of, or any, shares and may be modified, suspended or terminated at any time without notice at the Company’s discretion. Shares may be repurchased from time to time in the open market at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws, at times and prices considered appropriate by the Company. The timing, value and number of shares repurchased will be determined by the Company in its discretion and will be based on various factors, including an evaluation of current and future capital needs, current and forecasted cash flows, the Company’s capital structure, cost of capital and share price, general market and economic conditions, applicable legal requirements, and compliance with any contractual restrictions, among other factors. The timing and number of shares repurchased are subject to legal constraints and financial covenants under the Company’s credit facility that limit share repurchases based on defined ratios. As of November 4, 2015, the Company had approximately 48.6 million shares of common stock outstanding.
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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such statements include statements regarding the amount of shares of our common stock that may be repurchased, the effect of such repurchases on the dilution to shares outstanding resulting from equity compensation grants, the effect of such repurchases on earnings per share growth, the methods of effecting share repurchases, the factors that may affect the timing, value and number of shares repurchased, the objectives of the share repurchase program or the sources of funding the share repurchase program. Potential risks and uncertainties include, but are not limited to, such factors as: the possibility that no shares will be repurchased; the risk that the expected benefits of share repurchases will not be realized; and other information including the “Risk Factors,” set forth from time to time in Diodes’ filings with the
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Company Contact:
Diodes Incorporated
Laura Mehr
Director of Investor Relations
P: 972-987-3959
E: laura_mehrl@diodes.com
or
Investor Relations Contact:
Shelton Group
Leanne Sievers
EVP, Investor Relations
P: 949-224-3874
lsievers@sheltongroup.com