DELPHI 2011 Annual Report Download - page 26

Table of Contents
increasing revenue and expanding our manufacturing footprint in lower-cost regions. As a result, our exposure to the risks described above may be greater in
the future. The likelihood of such occurrences and their potential impact on us vary from country to country and are unpredictable.
If we fail to manage our growth effectively or to integrate successfully any future acquisition or strategic alliance into our business, our business could
be harmed.
We expect to pursue acquisitions and strategic alliances that leverage our technology capabilities, enhance our customer base, geographic penetration,
and scale to complement our current businesses. While we believe that such transactions are an integral part of our long-term strategy, there are risks and
uncertainties related to these activities. Such risks and uncertainties include difficulty in integrating acquired operations, technology and products and
potential unknown liabilities associated with the acquired company.
We depend on information technology to conduct our business. Any significant disruption could impact our business.
Our ability to keep our business operating effectively depends on the functional and efficient operation of information technology and
telecommunications systems. We rely on these systems to make a variety of day-to-day business decisions as well as to track transactions, billings, payments
and inventory. Our systems, as well as those of our customers, suppliers, partners, and service providers, are susceptible to interruptions (including those
caused by systems failures, malicious computer software (malware), and other natural or man-made incidents or disasters), which may be prolonged. We are
also susceptible to security breaches that may go undetected. Although we have taken precautions to mitigate such events, including geographically diverse
data centers and redundant infrastructure, a significant or large-scale interruption of our information technology could adversely affect our ability to manage
and keep our operations running efficiently and effectively. An incident that results in a wider or sustained disruption to our business could have a material
adverse effect on our business, financial condition and results of operations.
Risks Related to Our Ordinary Shares
The price of our ordinary shares is subject to volatility.
Various factors could cause the market price of our ordinary shares to fluctuate substantially including general financial market changes, regional
economic environments, changes in governmental regulation, significant automotive industry announcements or developments, the introduction of new
products or technologies by us or our competitors, and changes in other conditions or trends in the automotive industry. Other factors that could cause the
price of our ordinary shares to fluctuate could be actual or anticipated variations in our or our competitors' quarterly and annual financial results, financial
results failing to meet expectations of analysts or investors, changes in securities analysts' estimates of the our future performance or of that of our competitors
and the general health of the automotive industry. Also, the increase or decrease to the number of freely tradable shares in the public market could cause the
market price of our ordinary shares to fluctuate
Future sales of ordinary shares by existing shareholders could depress the market price of our ordinary shares.
We have 328,244,510 ordinary shares outstanding, of which 114,549,400 ordinary shares are freely tradable in the public market unless purchased by
any of our affiliates including the 90,470,573 shares that were released from lock-up restrictions on February 14, 2012 and registered for resale under the
Securities Act. We expect the remaining 213,695,110 ordinary shares, representing approximately 65% of our total outstanding ordinary shares, will become
available for resale in the public market in May 2012. The holders of all the remaining 213,695,110 ordinary shares (including our directors) remain subject to
lock-up restrictions until May 15, 2012. The lock-up
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