8-KCorporate ChangesExhibits & Filings

TE Connectivity plc 8-K Report, Bylaw Amendment (May 19, 2022)

Filed May 19, 2022For Securities:TEL

Summary

TE Connectivity plc (TEL) filed an 8-K report on May 19, 2022, to announce a formal change in its Articles of Association, effective May 19, 2022. This amendment reflects a share capital reduction totaling CHF 3,003,387.00, stemming from the cancellation of 5,269,100 shares previously repurchased by the company. The total share capital has been reduced from its previous amount to CHF 188,573,545.17. This filing is administrative in nature, detailing the procedural steps following shareholder approval at the annual general meeting on March 9, 2022. The reduction in share capital is a result of the company's ongoing share repurchase program and aligns with its capital management strategies. Investors should note that this 8-K does not contain new financial results or operational updates but rather formalizes a prior decision regarding the company's capital structure.

Key Highlights

  • 1Effective May 19, 2022, TE Connectivity's Articles of Association were amended to reflect a share capital reduction.
  • 2The share capital reduction amounts to CHF 3,003,387.00.
  • 3This reduction is a result of cancelling 5,269,100 shares repurchased by the company between September 26, 2020, and September 24, 2021.
  • 4The company's total share capital has been reduced to CHF 188,573,545.17.
  • 5The amendment follows shareholder approval at the annual general meeting held on March 9, 2022.
  • 6The filing includes the amended and restated Articles of Association as an exhibit.
  • 7This is primarily an administrative filing formalizing a capital structure change.

Frequently Asked Questions

The main purpose of this 8-K filing is to formally announce and document the amendment to TE Connectivity's Articles of Association, which reflects a reduction in the company's share capital due to the cancellation of previously repurchased shares. This change became effective on May 19, 2022.

While this 8-K reports the cancellation of 5,269,100 shares and a corresponding reduction in share capital, it does not directly provide the total number of outstanding shares. However, the cancellation of repurchased shares generally reduces the number of outstanding shares, which can be a positive signal for existing shareholders as it increases their proportionate ownership.

No, this 8-K filing is administrative and pertains to changes in the company's corporate structure, specifically its share capital. It does not contain any new financial results, operational updates, or forward-looking statements about the company's performance or outlook.

The amended Articles of Association formally document the approved share capital reduction and the resulting new total share capital. This is a required legal and corporate governance step to reflect the changes in the company's capital structure following share repurchases.