BROOKFIELD, Conn.--(BUSINESS WIRE)--
Photronics,
Inc. (NASDAQ:PLAB), a worldwide leader in supplying innovative
imaging technology solutions for the global electronics industry, today
announced that Photronics Semiconductor Mask Corporation ("PSMC"), a
majority-owned subsidiary of Photronics, Inc., has obtained approval
from the Gretai Securities Market of PSMC's application for the
delisting of its stock.
Photronics Inc., the majority shareholder of PSMC, has promised to
acquire PSMC's total shares currently outstanding at NTD16.30 per share
from April 30, 2013 through June 18, 2013, via tender offer. The
transaction is estimated to cost Photronics in the aggregate up to
approximately $25 to $30 million. Photronics currently owns 75% of the
outstanding shares of PSMC.
About Photronics
Photronics
is a leading worldwide manufacturer of photomasks.
Photomasks are high precision quartz plates that contain microscopic
images of electronic circuits. A key element in the manufacture of
semiconductors and flat panel displays, photomasks are used to transfer
circuit patterns onto semiconductor wafers and flat panel substrates
during the fabrication of integrated circuits, a variety of flat panel
displays and, to a lesser extent, other types of electrical and optical
components. They are produced in accordance with product designs
provided by customers at strategically located manufacturing facilities
in Asia, Europe, and North America. Additional information on the
Company can be accessed at www.photronics.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements made by or on behalf of
Photronics, Inc. and its subsidiaries (the Company). The forward-looking
statements contained in this press release and other parts of
Photronics' web site involve risks and uncertainties that may affect the
Company's operations, markets, products, services, prices, and other
factors as discussed in filings with the United States Securities and
Exchange Commission. These risks and uncertainties include, but are not
limited to, economic, competitive, legal, governmental, and
technological factors. Accordingly, there is no assurance that the
Company's expectations will be realized. The Company assumes no
obligation to provide revisions to any forward-looking statements.
07-2013
Photronics
Pete Broadbent, 203-775-9000
Vice President,
Investor Relations & Marketing
pbroadbent@photronics.com
Source: Photronics, Inc.
News Provided by Acquire Media
