Orbotech Announces Share Repurchase Program

  Orbotech Announces Share Repurchase Program

Business Wire

YAVNE, Israel -- November 05, 2012

ORBOTECH LTD. (NASDAQ/GSM SYMBOL: ORBK) today announced that the Company’s
Board of Directors (the “Board”) approved the allocation of $30 million for
the repurchase of the Company’s outstanding ordinary shares, NIS 0.14 nominal
(par) value each (“Ordinary Shares”). Such repurchases may be made in the open
market, in privately negotiated transactions or in block transactions, at the
discretion of the Company. The timing and amount of specific repurchases are
subject to the requirements of the Securities and Exchange Commission, market
conditions, alternative uses of capital and other factors. The Company may
enter into Rule 10b5-1 plans to facilitate repurchases under the program. A
Rule 10b5-1 plan would generally permit the Company to repurchase the Ordinary
Shares at times when it might otherwise be prevented from doing so under
certain securities laws. Purchases will be funded from available cash and may
be commenced, suspended or discontinued at any time without prior notice.
Ordinary Shares repurchased under the program will be held in treasury (unless
retired by action of the Board) and any Ordinary Shares held in treasury may
be used by the Company in connection with the Company’s equity award and other
employee benefit plans and for any additional purpose as may be determined
from time to time by the Board.

About Orbotech Ltd.

Orbotech Ltd. (NASDAQ/GSM: ORBK) has been at the cutting edge of the
electronics industry supply chain, as an innovator of enabling technologies
used in the manufacture of the world’s most sophisticated consumer and
industrial products, for over 30 years. The Company is a leading provider of
yield-enhancing and production solutions, primarily for manufacturers of
printed circuit boards, flat panel displays and other electronic components;
and today, virtually every electronic device is produced using Orbotech
technology. The Company also applies its core expertise and resources in other
advanced technology areas, including character recognition for check and forms
processing and solar photovoltaic manufacturing. Headquartered in Israel and
operating from multiple locations internationally, Orbotech’s highly talented
and inter-disciplinary professionals design, manufacture, sell and service the
Company’s end-to-end portfolio of solutions for the benefit of customers the
world over. For more information please see the Company’s filings with the
U.S. Securities and Exchange Commission at www.sec.gov. and visit the
Company’s corporate website at www.orbotech.com. The corporate website is not
incorporated herein by reference and is included as an inactive textual
reference only.

Cautionary Statement Regarding Forward-Looking Statements

Except for historical information, the matters discussed in this press release
are forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. These statements relate to, among
other things, future prospects, developments and business strategies and
involve certain risks and uncertainties. The words “anticipate,” “believe,”
“could,” “will,” “plan,” “expect” and “would” and similar terms and phrases,
including references to assumptions, have been used in this press release to
identify forward-looking statements. These forward-looking statements are made
based on management’s expectations and beliefs concerning future events
affecting Orbotech and are subject to uncertainties and factors relating to
its operations and business environment, all of which are difficult to predict
and many of which are beyond the Company’s control. Many factors could cause
the actual results to differ materially from those projected including,
without limitation, the timing, terms and success of any strategic
transaction, the outcome and impact of the pending criminal matter and ongoing
investigation in Korea, including any impact on existing or future business
opportunities in Korea and elsewhere, any civil actions related to the Korean
matter brought by third parties, including the Company’s customers, which may
result in monetary judgments or settlements, expenses associated with the
Korean matter, cyclicality in the industries in which the Company operates,
the Company’s production capacity, timing and occurrence of product
acceptance, fluctuations in product mix, worldwide economic conditions
generally, especially in the industries in which the Company operates, the
timing and strength of product and service offerings by the Company and its
competitors, changes in business or pricing strategies, changes in the
prevailing political and regulatory framework in which the relevant parties
operate or in economic or technological trends or conditions, including
currency fluctuations, inflation and consumer confidence, on a global,
regional or national basis, the level of consumer demand for sophisticated
devices such as smartphones, tablets and other electronic devices and other
risks detailed in the Company’s SEC reports, including the Company’s Annual
Report on Form 20-F for the year ended December 31, 2011. The Company assumes
no obligation to update the information in this press release to reflect new
information, future events or otherwise, except as required by law.


Orbotech Ltd.
Adrian Auman, +972-8-942-3560
Corporate Vice President Investor Relations
and Special Projects
Orbotech, Inc.
Michelle Harnish, +1-603-289-7937
Marketing Communications Manager
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