Joint
Press Release
May
6, 2008
ASE
Test Obtains Shareholder Approval for “Going Private” Acquisition by ASE
Inc.
May 6, 2008 –
Advanced Semiconductor Engineering, Inc. (NYSE: ASX, TAIEX: 2311, “ASE Inc.”)
and its majority-owned subsidiary ASE Test Limited (NASDAQ: ASTSF, TAIEX: 9101,
“ASE Test”) today jointly announced that shareholders of ASE Test approved the
proposed "going private" acquisition by ASE Inc. of the outstanding ordinary
shares of ASE Test that ASE Inc. does not directly or indirectly own, by way of
a scheme of arrangement under Singapore law (the "Scheme"). At the
May 6, 2008 meeting of shareholders of ASE Test convened by an Order of the High
Court of the Republic of Singapore (the “Court”), the requisite majority of
unaffiliated shareholders of ASE Test voted to approve and adopt the
Scheme.
Under the terms of
the Scheme, each ordinary share of ASE Test listed on The NASDAQ Global Market
will be acquired by ASE Inc. for US$14.78 per share in cash, and each Taiwan
depository share representing 0.0125 ordinary shares of ASE Test listed on the
Taiwan Stock Exchange will be acquired by ASE Inc. for the NT$ equivalent of
US$0.185 per share in cash (together, the “Scheme
Consideration”). Payment of the Scheme Consideration will be made
within 10 calendar days of the effective date of the Scheme.
The Scheme is
subject to sanction by the Court, the lodgement of a copy of the Order of the
Court sanctioning the Scheme with the Accounting and Corporate Regulatory
Authority of Singapore and the satisfaction of other customary closing
conditions. A further announcement regarding the Court hearing date
to sanction the Scheme and the anticipated effective date of the Scheme will be
made in due course.
About
ASE Inc.
ASE Inc. is one of the
world's
largest independent
provider of integrated circuit (“
IC”
) packaging services and, together with
its majority owned subsidiary ASE Test Limited, the world's largest independent
provider of IC testing services, including front-end engineering test, wafer
p
r
obe and final test services.
ASE Inc.
currently has approximately more than
200 international customers.
With advanced technological capabilities
and a global presence spanning
Taiwan
,
Korea
,
Japan
,
Singapore
,
Malaysia
and the United States, ASE Inc. has
established a reputation
for reliable, high quality products and services. For more information, visit
our website at http://www.aseglobal.com.
The common shares of ASE Inc. are listed
on the Taiwan Stock Exchange under the symbol “
2311”
. The American
D
ep
ository
Receipts
of ASE Inc. are listed on the New York
Stock Exchange under the symbol “
ASX”
.
The directors of ASE
Inc. (including any director who may have delegated detailed supervision of this
press release) have taken all reasonable care to ensure that the facts stated
and opinions expressed in this press release (other than those relating to ASE
Test) are fair or 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 or obtained from ASE Test, the sole responsibility of the
directors of ASE Inc. 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.
About
ASE Test
ASE Test is
one of
the world
’
s largest independent
provider
s
of semiconductor testing
services.
It
provides customers with a complete range
o
f semiconductor testing
services, including front-end engineering test, wafer probe, final test and
other test-related services.
The ordinary shares of ASE Test
ar
e quoted for trading on
T
he N
ASDAQ
Global Market under the symbol
“
ASTSF”
. ASE Test
’
s Taiwan
Depository Shares, which represent its
ordinary shares, are listed for trading on the Taiwan Stock Exchange under the
symbol “
9101”
.
The directors of ASE
Test
(including any director who may have
delegated detailed supervision of this press release) have
taken all reasonable care to ensure that
the facts stated and opinions expressed in this press release are fair or
accurate and that no material facts have been omitted from this press release
and they jointly and severally accept responsibility according
l
y.
Where any information has been extracted
from published or publicly available sources, the sole responsibility of the
directors of ASE Test 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.
Forward-Looking
Statements
All
statements other than statements of historical facts included in this press
release are or may be forward-looking statements. Forward-looking statements
include, but are not limited to, those using words such as "seek", "expect",
"anticipate", "estimate", "believe", "intend", "project", "plan", "strategy",
"forecast" and similar expressions or future or conditional verbs such as
"will", "would", "should", "could", "may" and "might". These statements reflect
ASE Inc.'s or ASE Test's (as the case may be) current expectations, beliefs,
hopes, intentions or strategies regarding the future and assumptions in light of
currently available information. Such forward-looking statements are not
guarantees of future performance or events and involve known and unknown risks
and uncertainties. Accordingly, actual results may differ materially from those
described in such forward-looking statements. Shareholders and investors should
not place undue reliance on such forward-looking statements, and ASE Inc. and
ASE Test undertake no obligation to update publicly or revise any
forward-looking statements.
For further
information please contact:
ASE Inc.
Freddie Liu (Vice
President)
Tel: +8862
8780-5489
Email: freddie_liu@aseglobal.com
ASE Test
Ken Hsiang
(CFO)
Tel:
+1-510-687-2475
Email:
ken_hsiang@aseglobal.com
Michael
Diaz
MacKenzie Partners
(UK) Limited (Proxy Solicitation Agent)
Tel:
+44-020-7170-4155