Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Creative Labs (CREAF) -- Ignore unavailable to you. Want to Upgrade?

To: Power ranger who wrote (12407)	10/9/1998 8:26:00 AM
From: Savoirman	Read Replies (2) \| Respond to of 13925

Creative prepares for buyback!!! Very close now ... I hope they don't just buy up 9.3m shares to give us all 11% more EPS. What's the fun, when capital appreciation could be far more than that? Creative should use buybacks to smooth out the volatility of its stock, and make it more in line with fundamentals. Anyway, here's the press release: CREATIVE TECHNOLOGY LTD PROPOSED SHARE REPURCHASE The Directors of Creative Technology Ltd ("Creative" or "the Company") are pleased to announce the Company's intention to repurchase up to 9,300,000 of its own shares from the market, which is the maximum permitted under the relevant legislation to allow shares repurchases by Singapore companies, subject to the passing of such legislation and the approval of the shareholders in general meeting. A circular will be issued to shareholders next week to convene an extraordinary general meeting on 6 November 1998 to seek approval for the shares repurchase mandate and the amendment of the Company's Memorandum and Articles of Association to empower the Company to repurchase its own shares. COMPLIANCE WITH NASDAQ RULES ONLY The Directors also wish to announce that the Stock Exchange of Singapore Limited ("SES") has agreed to exempt the Company from having to comply with SES rules. Creative, whose shares are quoted on both SES and NASDAQ will continue to retain its primary listing on the SES. In granting the Company's application, SES, while allowing it to comply only with the NASDAQ rules requires Creative to:- a) release to the SES and the Singapore market all announcements and filings made in the US at the same time or as soon as practicable after such announcements are made in the US so that investors in Singapore are not placed at a disadvantage to those in the US; and b) submit to the SES copies of all applications made to NASDAQ as soon as practicable after such applications have been made. Creative will comply with these conditions. It will also continue to apply to SES for the listing and quotation of any new shares to be issued by it and will give adequate notice in advance to the SES in respect of any offering of new securities to existing shareholders to facilitate trading, settlement and allotment arrangements for such issues for CDP securities account holders. For and on behalf of Creative Technology Ltd Ng Keh Long Company Secretary 9 October 1998 Singapore