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ASML Holding Management Presents At Deutsche Bank 2012 Technology Conference (Transcript)

Regards the co-investment program, everybody is aware that we’ve raised almost EUR1.4 billion in R&D from three of our largest customers, Intel, TSMC and Samsung. Those will be used for two things in the main – well, three: current EUV, next-generation EUV and the development of 450 millimeter. We’re obliged now to develop in the 2015 timeframe 450-millimeter capable tools on three different wavelengths of light, so that at least one customer can start to debug 450 processors out in a couple of years from now.

That will result in minority equity stakes by the three customers actually totaling 23% in aggregate. The current status is as of Friday, we got an authorization from our shareholders to issue additional shares. I won’t talk about the mechanics of this and waste our time, if you will, here. All of that’s available on our website, the timing, the mechanics and everything. So I’d refer you there. If there is any questions after that, then I’d be glad to answer them.

We will return all the proceeds from the issuance. We’ll have to issue shares, sell them to the equity investors, our customer investors, and then we’ll take that money and return it to you through what might seem a light bit complicated mechanism we call it a synthetic share buyback where we return capital to you and then do a reverse split. Those numbers, again, are all defined in the timing of that on our website, if you’d like to look at that.

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