Purchase of own shares

RNS Number : 7730S

CML Microsystems PLC

23 December 2016

 

23rd December 2016

CML Microsystems Plc

Transaction in own shares

CML Microsystems Plc, ("CML" or "the Group"), which designs, manufactures and markets mixed-signal and Radio Frequency (RF) semiconductors, primarily for global communication and solid state storage markets, announces that it has today purchased 179,439 ordinary shares in the Company ("Shares") at a price of £3.70 per share. 

The Shares purchased by the Company are to be cancelled so that the Company's capital will then consist of 16,801,279 Shares, consisting of equal voting rights.  This figure, which excludes 50,000 shares held in treasury, may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.  

The information contained within this announcement is deemed by the Group to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.

CML Microsystems Plc Chris Gurry, Group Managing Director Neil Pritchard, Group Financial Director	www.cmlmicroplc.com Tel: [phone]
Cenkos Securities plc Stephen Keys (Corporate Finance)	Tel: [phone]
SP Angel Corporate Finance LLP Jeff Keating	Tel: [phone]
Alma PR Josh Royston Caroline Forde Robyn McConnachie	Tel: [phone] Tel: [phone] Tel: [phone]

About CML Microsystems PLC

CML designs and develops semiconductors for the industrial storage and communications markets. The Group utilises a combination of in-house and outsourced manufacturing and has trading operations in Europe, the Far East and USA. CML targets niche markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading telecoms equipment providers and industrial product manufacturers.

The spread of its customers and products largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the ever increasing trend towards solid state storage devices in the commercial and industrial sectors, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial communications networks for voice and/or data communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no borrowings and is dividend paying.

 

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