Flextronics announces authorization for additional $200mln share repurchase

Authorization was addition to May 28 recently concluded $200mln share repurchase.

Flextronics on Thursday announced that its Board of Directors has authorized the repurchase of up to $200 million of the Company's outstanding ordinary shares. This authorization is in support of the current shareholder authorization for the repurchase of up to 10% of outstanding ordinary shares. This authorization is in addition to the May 28, 2010, $200 million share repurchase that was recently concluded, according to a Flextronic report.

Share repurchases, if any, will be made in the open market at such times and in such amounts as management deems appropriate. The Company intends to effect any share purchases in compliance with SEC Rule 10b-18. The timing and actual number of shares repurchased will depend on a variety of factors including price, market conditions and applicable legal requirements. The share repurchase program does not obligate the Company to repurchase any specific number of shares and may be suspended or terminated at any time without prior notice.