San Jose, CA--February 20, 1997--VLSI Technology Inc. (San Jose, CA) announced its intention to repurchase additional shares of the company's common stock under a program authorized by its board of directors in 1996.
This program provides that repurchased shares may be reissued to employees under the company's stock option and stock purchase plans.
The number of shares purchased under the program will be based on several factors, including the level of employee stock option exercises, the price of VLSI's stock, and market conditions.
In early 1996, the company repurchased a total of 1.8 million shares of its stock under the same program. So far this year, VLSI has repurchased an additional 305,000 shares at an average price of approximately $16.15 per share.
San Jose, CA
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