Avago Tech (AVGO) Announces New 20M Share Buyback Plan, Replacing Earlier Plan

Avago Tech (NASDAQ: AVGO) announced that its Board of Directors has approved a share repurchase program for 2013 authorizing the Company to repurchase up to 20 million of its ordinary shares. This replaces the 2012 share repurchase program for up to 15 million shares announced by the Company on April 5, 2012, which expired immediately prior to the Company's 2013 annual general meeting of shareholders on April 10, 2013.

The 2013 share repurchase program was adopted pursuant to the share purchase mandate approved by the Company's shareholders at its 2013 annual general meeting. The share purchase mandate authorizes the repurchase by the Company of up to 10 percent of its outstanding ordinary shares up to the date of the Company's 2014 annual general meeting.

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