ATIC’s Acquisition of Chartered Becomes Effective Today
December 17 2009 - 10:31PM
Business Wire
Advanced Technology Investment Company LLC (ATIC) of Abu Dhabi
and Chartered Semiconductor Manufacturing Ltd. (Chartered) of
Singapore announced that ATIC’s acquisition of Chartered becomes
effective today.
ATIC made its acquisition by way of a scheme of arrangement
under section 210 of the Companies Act of Singapore (the Scheme),
and Chartered ordinary shareholders approved the acquisition last
month. As all the requisite regulatory approvals and conditions
precedent have been received, a copy of the order of the High Court
sanctioning the Scheme was lodged with the Accounting and Corporate
Regulatory Authority of Singapore today, making the Scheme
effective and binding on all Chartered ordinary shareholders.
“The acquisition process is now completed. On behalf of the
Board, I want to express my sincere gratitude for the support of
our ordinary shareholders who overwhelmingly voted in favor of this
transaction and to our employees who have continued to deliver
their best to customers during this transition phase,” said Jim
Norling, chairman of the board of directors at Chartered.
“With the approval process behind us, we will now focus our
attention on combining two great companies, Chartered and
GLOBALFOUNDRIES,” said Ibrahim Ajami, chief executive officer of
ATIC. “Customers have told us they are excited about the
combination of technology, talent and capacity this new entity will
bring to the marketplace. We share their enthusiasm.”
The American Depositary Share (“ADS”) program of
Chartered will be terminated with effect from today and the ADSs
will cease trading. Chartered is scheduled to be delisted from the
Nasdaq on December 28, 2009 and the SGX on December 29, 2009, and
will be deregistered from the US Securities Exchange Commission in
due course. The date for payment to shareholders is scheduled for
December 28, 2009.
ATIC is a technology investment company wholly owned by the
government of Abu Dhabi. This acquisition is its second major
investment in the semiconductor industry and follows its creation
in March 2009 of Globalfoundries, a U.S.-headquartered,
leading-edge semiconductor manufacturing company and a joint
venture with AMD. The acquisition of Chartered is made through ATIC
International Investment Company LLC, a wholly-owned subsidiary of
ATIC.
RESPONSIBILITY STATEMENT
The directors of Chartered Semiconductor Manufacturing Ltd.
(Chartered) (including those who may have delegated detailed
supervision of this Press Release) have taken all reasonable care
to ensure that the facts stated and all opinions expressed in this
Press Release are fair and accurate and that no material facts have
been omitted from this Press Release, and they jointly and
severally accept responsibility accordingly. Where any information
has been extracted from published or publicly available sources,
the sole responsibility of the directors of Chartered has been to
ensure through reasonable enquiries, that such information is
accurately extracted from such sources or, as the case may be,
reflected or reproduced in this Press Release. The directors of
Chartered do not accept any responsibility for any information
relating to or opinions expressed by or on behalf of Advanced
Technology Investment Company LLC and/or ATIC International
Investment Company LLC.
The directors of both the Advanced Technology Investment Company
LLC (ATIC) and ATIC International Investment Company LLC (including
those who may have delegated detailed supervision of this Press
Release) have taken all reasonable care to ensure that the facts
stated and all opinions expressed in this Press Release are fair
and accurate and that no material facts have been omitted from this
Press Release, and they jointly and severally accept responsibility
accordingly. Where any information has been extracted from
published or publicly available sources, the sole responsibility of
the directors of ATIC and the directors of ATIC International
Investment Company LLC has been to ensure through reasonable
enquiries, that such information is accurately extracted from such
sources or, as the case may be, reflected or reproduced in this
Press Release. The directors of ATIC and the directors of ATIC
International Investment Company LLC do not accept any
responsibility for any information relating to or opinions
expressed by or on behalf of Chartered.
For more information on the announcement, go to:
www.advancedtechnologyic.com and www.charteredsemi.com.
About Chartered
Chartered Semiconductor Manufacturing Ltd. (Nasdaq:
CHRT)(SGX-ST: CHARTEREDSC), one of the world’s top dedicated
semiconductor foundries, offers leading-edge technologies down to
40/45 nanometer (nm), enabling today’s system-on-chip designs. The
company further serves its customers’ needs through a
collaborative, joint development approach on a technology roadmap
that extends to 22nm. Chartered’s strategy is based on open and
comprehensive design enablement solutions, manufacturing
enhancement strategies, and a commitment to flexible sourcing. In
Singapore, the company owns or has an interest in six fabrication
facilities, including a 300mm fabrication facility and five 200mm
facilities. Information about Chartered can be found at
www.charteredsemi.com.
About ATIC
The Advanced Technology Investment Company (ATIC) was created in
2008. A technology investment company wholly owned by the
Government of Abu Dhabi, ATIC is focused on making significant
investments in the advanced technology sector, both locally and
internationally. Its mandate is to generate returns that deliver
long-term benefits to the Emirate of Abu Dhabi.
ATIC seeks to leverage the unique advantages it enjoys as an
investor from the Emirate of Abu Dhabi to identify and realize
long-term investment opportunities in the highly competitive and
capital-intensive advanced technology sector. These advantages
include significant and reliable capital, a patient investment
philosophy, and a subsequently long-term investment horizon. For
more information about ATIC visit www.advancedtechnologyic.com
Forward-Looking Statement
This Press Release contains forward-looking statements, which
are made pursuant to the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include, without limitation, statements relating to the
future plans of Chartered following the acquisition and the
expected benefits from the acquisition. These forward-looking
statements are based on the current expectations of the management
of Chartered and the management of ATIC and ATIC International
Investment Company LLC (as applicable) and are subject to risks and
uncertainties that could cause actual results to differ materially
from expectations. These forward-looking statements should not be
relied upon as predictions of future events as Chartered, ATIC and
ATIC International Investment Company LLC cannot assure you that
the events or circumstances reflected in these statements will be
achieved or will occur.
Chartered Semiconductor Manufacturing Ltd. (MM) (NASDAQ:CHRT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Chartered Semiconductor Manufacturing Ltd. (MM) (NASDAQ:CHRT)
Historical Stock Chart
From Apr 2023 to Apr 2024
