Buy-back of up to 50 million shares reflects confidence in business strategy and growth potential
Taipei, Taiwan – August 24, 2015 – HTC Corporation today announced that its Board of Directors has authorized a share repurchase program to restore investor confidence and increase shareholder value.
The share repurchase program, which will run over the course of the next two months, comprises the buy-back of up to 50 million shares representing approximately 6% of the Company’s total outstanding shares. Based on today’s closing price, this will amount to around NT$ 2 billion (approx. US$ 60 million), though the total amount will be based on the final purchase price.
The repurchase of up to 6% of total shares outstanding represents a significant return to investor share capital, and reiterates the strength of the Company’s balance sheet and financial flexibility, at a time when the share price does not reflect the intrinsic value of the Company.
“I welcome this opportunity to enhance shareholder value utilizing a relatively small proportion of our balance sheet,” said Cher Wang, Chairwoman and CEO of HTC. “The program reflects our Board’s belief in our ability to execute across our diversification strategy, having put the right structure and procedures in place to pursue sustainable, profitable growth. I am excited about all the opportunities ahead in smartphones, virtual reality and connected devices, and remain committed to building the HTC of the future.”
HTC Corporation aims to bring brilliance to life. As a global innovator in smart mobile devices and technology, HTC has produced award-winning products and industry firsts since its inception in 1997, including the critically acclaimed HTC One and HTC Desire lines of smartphones. The pursuit of brilliance is at the heart of everything we do, inspiring best-in-class design and game-changing mobile and virtual reality experiences for consumers around the world. HTC is listed on the Taiwan Stock Exchange (TWSE: 2498). www.htc.com.
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