News Column

SYNNEX CORP FILES (8-K) Disclosing Other Events

June 23, 2014



Item 8.01 Other Events

On June 23, 2014, SYNNEX announced that its Board of Directors has approved an anti-dilution repurchase program of up to $100 million of its Common Stock over a period of up to three years. Any stock repurchases may be made through open market and privately negotiated transactions, at times and in such amounts as management deems appropriate, including pursuant to one or more Rule 10b5-1 trading plans adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. Under a Rule 10b5-1 trading plan, the Company may repurchase its shares regardless of any subsequent possession of material nonpublic information. The timing and amount of stock repurchased will depend on a variety of factors including stock price, market conditions, corporate and regulatory requirements and capital availability. The repurchase is expected to be funded by cash on hand and cash generated by operations. Forward Looking Statements This Item 8.01 contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding SYNNEX' stock repurchase program. These statements involve risks and uncertainties, including, but not limited to, that SYNNEX may not successfully repurchase stock under its stock repurchase program. For a detailed discussion of other risks and uncertainties see SYNNEX' Form 10-Q for the fiscal quarter ended February 28, 2014 and from time to time in its SEC filings. Statements included in this report are based upon information known to SYNNEX as of the date of this report, and SYNNEX assumes no obligation to update information contained in this report. Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit No. Description

99.1 Press Release dated June 23, 2014.



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Source: Edgar Glimpses


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