ASM buys back $20.1 million total of 4.25%, 5.25% convertibles

By Jennifer Chiou

New York, May 21 - ASM International NV announced the repurchase of $14.5 million of its 5.25% convertible subordinated notes due 2010 and $5.6 million of its 4.25% convertible subordinated notes due 2011.

The Netherlands-based semiconductor circuitry maker said it will use about €20.5 million of the €24 million 2006 final cash dividend it received from subsidiary ASM Pacific Technology Ltd. on April 30 for the buybacks.

ASM announced in November that it would use cash dividends from its subsidiary during at least 2007 to 2009 for one or more of the following: repurchase of common shares, buyback of outstanding convertible notes, cash dividends and, to a limited extent, the purchase of additional shares of ASM Pacific Technology.

Remaining funds from the dividend will go to the repurchase of common shares linked to its stock option plan.

On May 2, the company announced that it intends to pay a cash dividend to its shareholders in 2007 in the form of an interim dividend of €0.10 per share, which would be payable in early September.

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