FREMONT, Calif. & ROMANEL-SUR-MORGES, Switzerland, May 10, 2006 (BUSINESS WIRE) -- Logitech International (SWX:LOGN) (Nasdaq:LOGI) today announced 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, 2006. 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, 2006.
About Logitech
Founded in 1981, 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).
Under Logitech's share repurchase program, purchases of shares or ADRs may be made from time to time on the open market, through block trades or otherwise. Purchases may be started or stopped at any time without prior notice depending on market conditions and other factors.
Logitech, the Logitech logo and other Logitech marks are owned by Logitech and may be registered. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the Company's Web site at www.logitech.com.
(LOGI - IR)
SOURCE: Logitech International
Logitech International
Joe Greenhalgh, 510-713-4430
(Vice President, Investor Relations - USA)
Nancy Morrison, 510-713-4948
(Director, Corporate Communications - USA)
Ben Starkie, +41-(0) 21-863-5195
(Public Relations Manager - Europe)
Copyright Business Wire 2006
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