GEORGE TOWN, Grand Cayman, March 30, 2010 (GLOBE NEWSWIRE) -- O2Micro® International Limited (Nasdaq:OIIM) (the "Company") today announced that it has adopted a program to repurchase up to $10 million worth of its American Depositary Shares ("ADS") on the open market using the Company's existing cash reserves. As of December 31, 2009, there were approximately 36.2 million ADS outstanding.
The repurchases will be under a program structured to comply with Rule 10b-18 promulgated by the U.S. Securities and Exchange Commission. The repurchases will be made pursuant to a plan adopted by the Company under Rule 10b5-1 that allows the Company to repurchase ADS at times when such repurchases would otherwise be prevented under insider trading laws or self-imposed trading blackout periods. A broker selected by the Company will have the authority, under the terms and limitations specified in the plan, to repurchase ADS on the Company's behalf.
Based on certain pricing parameters established under the plan, the Company cannot guarantee the exact number of ADS that will be repurchased under the plan.
About O2Micro
Founded in April 1995, O2Micro develops and markets innovative power management and security components for the Computer, Consumer, Industrial, and Communications markets. Products include Intelligent Lighting, Battery Management, Power Management, and SmartCardBus® products.
O2Micro International maintains an extensive portfolio of intellectual property with 13,404 patent claims granted, and over 15,000 more pending. The company maintains offices worldwide. Additional company and product information can be found on the company website at www.o2micro.com.
O2Micro, the O2Micro logo, SmartCardBus, and combinations thereof are registered trademarks of O2Micro. All other trademarks are the property of their respective owners.
The O2Micro International Limited logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6567