Alpha and Omega Semiconductor Approves $30 Million Share Repurchase Program
Board and management demonstrate confidence in business strategy and financial strength, authorizing buybacks funded by cash reserves and ongoing operations with flexible execution methods.
Alpha and Omega Semiconductor Limited announced that its Board of Directors has approved a new share repurchase program under which the Company is authorized to repurchase up to $30 million of the Company’s outstanding common shares from time to time.
“This new share repurchase program reflects the Board and management team’s confidence in the AOS’s business strategy, financial performance and execution,” said Stephen Chang, Chief Executive Officer of AOSL. “With a strong balance sheet and disciplined approach to allocate our capital, we are well-positioned to continue investing in our business and technology while delivering value to our shareholders.”
The timing and amount of shares repurchased will depend on the share price, business and market conditions, and other factors. Share repurchases under the repurchase program may be made in the open market, in privately negotiated transactions, or by other methods. We intend to enter into a 10b-5 trading plan to facilitate repurchases of our shares in the open market under this program. The repurchase program may be modified, suspended, or terminated at any time at the discretion of our Board of Directors. We expect to fund repurchases with our existing cash reserve and ongoing cash from operations.
