UPDATE 3-ASMI foundation invokes poison pill

(Adds ASMI statement)

AMSTERDAM, May 14 (Reuters) - A foundation aimed at protecting the independence of Dutch semiconductor equipment maker ASM International (ASMI.AS: Quote, Profile, Research, Stock Buzz)(ASMI.O: Quote, Profile, Research, Stock Buzz) has bought 29.9 percent of the firm's preference shares, seeking to ward off an investor push to fire ASMI's CEO.

The independent Foundation, which exists to protect the firm's independence or existence, said on Wednesday it has exercised its option to acquire 21,985 shares in ASMI.

"The purpose of our decision is to create a momentum for the company to have discussions with all shareholders, including the family of del Prado," Foundation Chairman Michiel van Galen told a conference call.

British pension fund manager Hermes, with a 15 percent stake in ASMI, has submitted a proposal to ASMI's annual meeting to be held on May 21, calling for the sacking of Chief Executive Chuck del Prado.

Hedge fund Fursa Alternative Strategies, which owns 10 percent of ASMI, also backs the proposal. Earlier this month, influential share advisory group ISS recommended that investors vote in favor of the proposal.

Del Prado is the son of company founder Arthur del Prado, who controls about 20 percent of ASMI's shares, according to Reuters data.

ASMI said it was still convinced its recovery plan would put the company back on track.

"The Foundation may provide management with a breathing space within which it can focus on execution of its strategy and profitability roadmap," it said in a statement.  Continued...