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The Board of Directors of ARRIS International plc ("ARRIS" or the Company") has authorized a $300 million increase in ARRIS' share repurchase program. With this increase, the total amount currently available for repurchases under the share repurchase program is $500 million. Unless terminated earlier by the Board, the repurchase plan will expire upon the earlier of ARRIS using all authorized funds for repurchases or the expiration of the shareholder authorization for share repurchases in January 2021.
ARRIS previously reported that during the fiscal year of 2017, the Company repurchased 7.5 million ordinary shares for $197.0 million at an average stock price of $26.12. To date in 2018, ARRIS has repurchased an additional 0.99 million ordinary shares for $25 million at an average share price of $25.34.
ARRIS International plc |
By: | /s/ Patrick W. Macken |
Name: Patrick W. Macken | |
Title: SVP, General Counsel and Secretary |