Autoliv to Increase Its Share Buyback Pace.STOCKHOLM, Sweden -- Regulatory News: Following the announcement of the agreed acquisition of the automotive radar sensors business of Tyco Electronics Tyco Electronics was the largest unit of Tyco International Ltd., and the world's leading supplier of passive electronic components. On June 29, 2007 Tyco Electronics became a wholly independent publicly-traded company, along with Covidien, from the breakup of the Tyco conglomerate Ltd, Autoliv Inc. (NYSE NYSE See: New York Stock Exchange :ALV ALV Arvonlisävero (Finnish: value added tax) ALV Avian Leukosis Virus ALV Andorra La Vella (capital of Andorra) ALV Autonomous Land Vehicle ALV Asta La Vista ALV Alvin, Texas ALV Air Launched Vehicle )(STO:ALIV ALIV A Life in Vain (band) ), the worldwide leader in automotive safety, intends to increase the rate of share repurchases given the current price of the Company. Jan Carlson, Autoliv's President and Chief Executive Officer said: "This is in line with our stated "opportunistic" buyback philosophy . Simply put, we aim to buy more shares when we believe the timing is right and the price is attractive. Working with our external financial advisers we continuously analyse the market situation and in light of recent stock market developments we believe the timing is right and that our shareholders are best served by us using our very strong balance sheet position to increase our repurchases again." The current repurchase mandate authorizes the Company's management to repurchase another 4.9 million shares at a pace it deems best for the Company and its long-term shareholders, since there is no expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of the repurchase mandate. Autoliv publishes daily the repurchase program activity of the previous day on its corporate website. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement" Statements in this report that are not statements of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and . These statements involve risks and uncertainties, including - but not limited to - the economic outlook for the Company's markets, fluctuation of foreign currencies, fluctuation in vehicle production schedules for which the Company is a supplier, continued uncertainty in program awards and performance, the financial results of companies in which Autoliv has made technology investments, pricing negotiations with customers, fluctuating fuel and commodity prices and other costs, supply issues, product liability, warranty and recall claims, dependence on customers and suppliers, and other factors discussed in Autoliv's filings with the Securities and Exchange Commission (SEC). We do not intend or assume any obligation to update any of these statements. This information was brought to you by Cision http://newsroom.cision.com |
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