TAIPEI, Jan. 15, 2015 /PRNewswire/ -- Advanced
Semiconductor Engineering, Inc. (TWSE: 2311; NYSE: ASX) (ASE)
announces that today its board of directors passed resolutions to
spin-off of its subsidiary Universal Scientific Industrial Co.,
Ltd. ("USI") as part of an effort to enhance operational
flexibility via structural adjustments. Where necessary, ASE will
integrate the business activities of USI with those of other
business entities within the group with the aim of achieving
increased integral operational efficiency by integrating various
group resources dedicated to specialized business operations.
At today's board meeting, subsidiary USI also passed resolutions
authorizing the spin-off as well as capital reduction proposals
that will assign its investment business with an estimated value of
NTD 35.5 billion (including assets, liabilities and business) to
USI, Inc. ("New USI"), a newly established business entity. New USI
will issue approximately 1 billion new shares at the ratio of 1,000
existing USI shares to 609.2743815 new shares. At the same time,
USI plans to undergo a capital reduction of NTD 16,013 million by
reducing 975.62902474 shares per 1,000 shares (a reduction ratio of
97.56%). After the capital reduction, the share capital of USI
will be reduced from NTD 16,413 million to NTD 400
million. The record date of the spin-off and capital reduction
is March 6, 2015. This proposal will
be submitted to a special shareholders' meeting of USI to be held
on February 2, 2015.
ASE holds a total of 1,625 million common shares in USI, a
99.01% shareholding. After the record date of the USI spin-off and
capital reduction, ASE's shareholding is expected to decrease to
39.603 million shares with the same 99.01% shareholding. At the
same time, ASE will acquire 990 million shares in New USI, with a
99.01% shareholding. The spin-off is part of the internal
structural adjustments in the ASE group and will not have impact on
the financial position and business operation of ASE.
About The ASE Group
The ASE Group is the world's largest provider of independent
semiconductor manufacturing services in assembly, test, materials
and design manufacturing. As a global leader geared towards
meeting the industry's ever growing needs for faster, smaller and
higher performance chips, the Group develops and offers a wide
portfolio of technology and solutions including IC test program
design, front-end engineering test, wafer probe, wafer bump,
substrate design and supply, wafer level package, flip chip,
system-in-package, final test and electronic manufacturing services
through Universal Scientific Industrial Co., Ltd., a member of the
ASE Group. For more information about the ASE Group, visit
www.aseglobal.com.
About Universal Scientific Industrial Co.,
Ltd.
Established in 1974 and with a capital of NTD 16.4 billion, USI
mainly engages in the manufacturing, processing, purchase and sale
of various computer and IT peripherals, thick film hybrid circuits,
wireless LAN equipment, electronic parts and components and
personal computers and their parts and specializes in providing a
comprehensive solution for electronic manufacturing services.
Safe Harbor Notice
This press release contains "forward-looking statements" within
the meaning of Section 27A of the United States Securities Act of
1933, as amended, and Section 21E of the United States Securities
Exchange Act of 1934, as amended, including statements regarding
our future results of operations and business prospects.
Although these forward-looking statements, which may include
statements regarding our future results of operations, financial
condition or business prospects, are based on our own information
and information from other sources we believe to be reliable, you
should not place undue reliance on these forward-looking
statements, which apply only as of the date of this press
release. The words "anticipate," "believe," "estimate,"
"expect," "intend," "plan" and similar expressions, as they relate
to us, are intended to identify these forward-looking statements in
this press release. Our actual results of operations, financial
condition or business prospects may differ materially from those
expressed or implied in these forward-looking statements for a
variety of reasons, including risks associated with cyclicality and
market conditions in the semiconductor or electronic industry;
changes in our regulatory environment, including our ability to
comply with new or stricter environmental regulations and to
resolve environmental liabilities; demand for the outsourced
semiconductor packaging, testing and electronic manufacturing
services we offer and for such outsourced services generally; the
highly competitive semiconductor or manufacturing industry we are
involved in; our ability to introduce new technologies in order to
remain competitive; international business activities; our business
strategy; our future expansion plans and capital expenditures; the
strained relationship between the Republic of China and the People's Republic of China; general
economic and political conditions; the recent global economic
crisis; possible disruptions in commercial activities caused by
natural or human-induced disasters; fluctuations in foreign
currency exchange rates; and other factors. For a discussion
of these risks and other factors, please see the documents we file
from time to time with the Securities and Exchange Commission,
including our 2013 Annual Report on Form 20-F filed on April 17, 2014.
Contact:
ASE, Inc.
|
Joseph Tung, Chief Financial
Officer
|
Room 1901, 333, Keelung Rd., Sec. 1
|
Eddie Chang, Senior Director
|
Taipei, Taiwan, 110
|
Joseph Su, Senior Manager
|
|
ir@aseglobal.com
|
Tel: + 886.2.6636.5678
|
Michelle Jao, Manager (US
Contact)
|
Fax: + 886.2.2757.6121
|
mjao@iselabs.com
|
http://www.aseglobal.com
|
Tel: + 1.510.687.2481
|
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SOURCE Advanced Semiconductor Engineering, Inc.