May 16, 2006 > Logitech Proposes Two-for-One Stock Split
Logitech Proposes Two-for-One Stock Split
FREMONT (Business Wire), May 10_Logitech International (SWX:LOGN) (Nasdaq:LOGI) announced that it will ask its shareholders to approve a two-for-one split of its shares at the Company's upcoming Annual General Meeting on June 16. The stock split will apply to Logitech shares and ADRs.
Logitech's board of directors also approved a new share buyback program, which authorizes the Company to invest up to $250 million to purchase its own shares, subject to the approval of the Swiss Takeover Board. The new program will begin after the Company completes its current share buyback program of 300 million Swiss francs (approximately $235 million). Under the current program, announced in June 2005, Logitech has repurchased a total of 4,300,500 shares for 229 million Swiss francs (approximately $178 million), as of May 10.
Logitech designs, manufactures and markets personal peripherals that enable people to effectively work, play, and communicate in the digital world. Logitech International is a Swiss public company traded on the SWX Swiss Exchange (LOGN) and in the U.S. on the Nasdaq National Market System (LOGI).
For more information, visit www.logitech.com.