8-KCorporate ChangesExhibits & Filings

TE Connectivity plc 8-K Report, Bylaw Amendment (May 21, 2019)

Filed May 21, 2019For Securities:TEL

Summary

TE Connectivity plc (TEL) filed an 8-K report on May 21, 2019, to announce a formal amendment to its Articles of Association. This amendment, effective May 21, 2019, reflects a previously approved share capital reduction. The reduction was a result of the cancellation of 6,118,600 shares repurchased by the company between September 30, 2017, and September 28, 2018. For investors, this filing confirms the completion of a capital reduction that reduces the company's stated share capital. While not a transaction that directly impacts operating performance or current financial results, it represents a formalization of the company's capital structure following its share repurchase activities. Investors can review the amended Articles of Association as Exhibit 3.1 for full details.

Key Highlights

  • 1TE Connectivity plc formally amended its Articles of Association, effective May 21, 2019.
  • 2The amendment reflects a share capital reduction approved by shareholders on March 13, 2019.
  • 3The capital reduction is a consequence of cancelling 6,118,600 shares repurchased between September 30, 2017, and September 28, 2018.
  • 4The company's share capital was reduced by CHF 3,487,602.00.
  • 5The total share capital is now CHF 200,042,287.17.
  • 6The amended Articles of Association are provided as Exhibit 3.1 to the filing.

Frequently Asked Questions

The main purpose of this 8-K filing is to formally announce and register the amendment to TE Connectivity's Articles of Association, which reflects a reduction in its share capital following a share repurchase program.

This filing is primarily a corporate housekeeping matter that formalizes a reduction in the company's stated share capital. It does not directly impact the company's operating performance, cash flows, or immediate financial health. While share buybacks can be seen as a positive sign of returning value to shareholders, the capital reduction itself is an accounting adjustment and doesn't directly affect the market value of the remaining shares.

The shares were repurchased under the company's share repurchase program, which is a common method for companies to return capital to shareholders or offset dilution from stock-based compensation.

The amended and restated Articles of Association are attached to this 8-K filing as Exhibit 3.1 and are incorporated by reference.