MEMC Reinstates Share Repurchase Program

MEMC Electronic Materials, Inc. WFR announced today that its BOD reinstated an existing share repurchase program authorization that was suspended in April 2009. Approximately $550 million of repurchase capacity remains under this authorization. As originally authorized, the program allows the company to purchase common stock from time to time on the open market or through privately negotiated transactions using available cash. The specific timing and amount of repurchases will vary based on market conditions and other factors. The stock repurchase program may be modified, extended or terminated by the Board of Directors at any time. Tim Oliver, MEMC's CFO, commented, "The company routinely reviews opportunities and priorities for the redeployment of cash and currently believes that investments in operations that catalyze future period growth offer the optimal return. That said, the share repurchase program reauthorization provides an alternative for cash redeployment should investment priorities change."