Koninklijke Philips N.V.
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Publicatie datum
13 nov 2007 - 11:50
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips plans to participate in TSMC share repurchase program
Bericht
November 13, 2007
PHILIPS PLANS TO PARTICIPATE IN TSMC SHARE REPURCHASE PROGRAM
Amsterdam, The Netherlands – Royal Philips Electronics (NYSE:PHG, AEX:PHI) today announced that, market conditions permitting, it plans to sell up to the maximum number of common shares in Taiwan Semiconductor Manufacturing Company Ltd. (TAIEX: 2330, NYSE: TSM), as are repurchased by TSMC in a share repurchase program as announced by TSMC.
This TSMC share repurchase program is the third step in the multi-phased plan to facilitate an orderly exit by Philips from its shareholding in TSMC as announced by Philips and TSMC on March 9, 2007. This plan aims to reduce Philips' holding in TSMC to zero before the end of 2010. Today, TSMC has announced it plans to execute this share buyback program via open market transactions on the Taiwan Stock Exchange up to USD 1.5 billion worth of shares.
Currently, Philips holds approximately 2.1 billion TSMC shares representing approximately 8 percent of TSMC's issued shares. This total stake is worth approximately USD 4.0 billion at current market prices of TSMC shares.
For more information, please contact:
Arent Jan Hesselink
Philips Corporate Communications:
Tel: +31 20 59 77415
Email: arentjan.hesselink@philips.com
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lighting and consumer lifestyle, delivering products, services and solutions through the brand promise of "sense and simplicity". Headquartered in the Netherlands, Philips employs approximately 128,100 employees in more than 60 countries worldwide. With sales of EUR 27 billion in 2006, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. News from Philips is located at www.philips.com/newscenter.
Forward-looking statements
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Datum laatste update: 13 februari 2026