Summary
Flextronics International Ltd. (now Flex Ltd.) announced on May 28, 2010, that its Board of Directors authorized a new share repurchase program. This program allows for the repurchase of up to $200 million of the Company's outstanding ordinary shares. This initiative signals management's confidence in the company's financial health and its stock's valuation. Investors should note that the program does not commit the company to any specific repurchase amount and can be modified or discontinued at any time. The announcement was made via a press release filed as an exhibit to this 8-K.
Key Highlights
- 1Flextronics International Ltd. announced a share repurchase program authorized by its Board of Directors.
- 2The program allows for the repurchase of up to $200 million of the Company's outstanding ordinary shares.
- 3The announcement was made on May 28, 2010.
- 4The share repurchase program is not an obligation to buy a specific number of shares.
- 5The company reserves the right to suspend or terminate the program at any time without prior notice.
- 6The announcement was accompanied by a press release filed as Exhibit 99.1.