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ADB Holdings S.A. (SWF:ADBN) Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
Geneva - September 10, 2008, 07:00 a.m. (CET)
ADB Holdings SA (SWX: ADBN) announced today that its Board of Directors has approved a share repurchase programme.
The Company will purchase up to 330,000 of its own shares, or up to 5.33% of its share capital, on the regular market starting today, at the market price. The programme will commence on 10 September, and will last until 31 March, 2009. The Company retains the right to amend the duration of the programme. The repurchased shares will be held in treasury and would be available for purposes such as employee incentive schemes, financing of acquisitions and/or any other future use in the Company's interest.
At the launch of this share repurchase programme, the Company held 287,589 shares in treasury.
The Company has appointed Bank Vontobel AG as agent for this operation. The repurchase will not require a separate trading line with SWX.
Information related to this repurchase programme will be available on the Company's website: www.adbholdings.com.
For further information please contact: Tina Nyfors EVP, Corporate Development Telephone: +41 22 592 8433 t.nyfors@adbglobal.com -end-
About ADB Group (SWX: ADBN)
ADB Group (www.adbholdings.com) was founded in 1995 and is a leading developer of solutions required to view and interact with digital TV broadcast through cable, satellite, terrestrial and IP networks. The Group primarily sells consumer premise devices, including set-top boxes, with over 11 million units deployed since 1997. The development and sales of the Group's products and services are conducted in two main operating segments: the Digital TV Equipment segment, mainly operated by ADB (www.adbglobal.com), and Software and Services segment, encompassing Osmosys (www.osmosys.tv) and Vidiom Systems (www.vidiom.com).
This press release contains forward-looking statements. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors, among which:
* future developments of the world digital TV market, in particular the future demand for digital TV products in the key markets and from key customers served by our Group; * pricing pressures, competitive market situation; * our and the industry's capability to successfully and timely innovate and develop challenging technology, and our capability to hire and retain high-level employees; * changes in the exchange rates between the US$ and the main other operating currencies of the Group, including the Euro and the Polish Zloty; * our ability in an intensive competitive environment, to continue securing orders from existing or new customers and to achieve our pricing expectations for volume supplies of new products in whose development we have or are currently investing; * the ability of our suppliers to meet our demands for supplies, qualitatively or quantitatively, and to offer competitive pricing; * our gross margin could vary significantly from expectations based on changes in revenue levels, product mix and pricing, changes in unit costs, and the timing and execution of shipments ramp-ups; * changes in the economic, tax, social or political environment, including import and other duties, military conflict, terrorist activities, as well as natural events such as severe weather, health risks, epidemics or earthquakes in the countries in which we, our key customers and our suppliers operate; * our ability to obtain required licenses on third-party intellectual property on reasonable terms and conditions, the impact of potential claims by third parties involving intellectual property rights relating to our business, and the outcome of litigation; * the results of actions by our competitors, including new product offerings and our ability to react thereto;
Advanced Digital Broadcast Holdings SA undertakes no obligation to publicly update or revise any forward-looking statements. Advanced Digital Broadcast Holdings SA reserves the right to amend the information at any time without prior notice.
The information contained in this press release may not be considered as being a substitute for economic, legal, tax or other advice and you are cautioned to base investment decisions or other decisions on the content of this release. You are recommended to consult your investment advisers or other advisers prior to making any decision.
This press release is not an offer of securities for sale or a solicitation to invest in Advanced Digital Broadcast Holdings SA securities. In particular, it is not an offer of securities for sale in the United States of America, its territories and possessions. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Advanced Digital Broadcast Holdings S.A. does not intend to register its securities in the United States of America.
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ADB Holdings S.A. Avenue de Tournay 7 Chambesy Switzerland
ISIN: CH0021194664; Index: SPI, SPIEX, SSCI; Listed: Main Market in SWX Swiss Exchange;
