ChipMOS Technologies (IMOS) Announces $10 Million Buyback Plan for Q4

ChipMOS TECHNOLOGIES LTD. (Nasdaq: IMOS) today announced it would effect its $10 million share repurchase program in compliance with Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

The Company announced approval of the share repurchase program for up to the maximum aggregate purchase price of $10 million by the Company's Board of Directors in a Company's press release dated October 3, 2011. In the same press release, the Company indicated it intended to effect the repurchases commencing in the fourth quarter of 2011 in accordance with the requirements of Rule 10b-5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

Purchases under the plan are subject to certain pricing parameters that depend in part upon market prices that fluctuate. Therefore there is no guarantee as to the number of shares that may be repurchased under the plan. The repurchased shares will be retired and cancelled.

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