ASE Inc. and ASE Test Announce Anticipated Effective Date of Proposed 'Going Private' Acquisition of ASE Test by ASE Inc.
May 09 2008 - 1:00AM
PR Newswire (US)
TAIPEI, Taiwan, May 9 /Xinhua-PRNewswire-FirstCall/ -- 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 announced May 30, 2008 as the
anticipated effective date of 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'). ASE Inc.
and ASE Test announced on May 6, 2008 that the Scheme was approved
by the requisite majority of unaffiliated shareholders of ASE Test
at the May 6, 2008 meeting of shareholders of ASE Test convened by
the order of the High Court of Singapore (the 'Court'). ASE Test
applied on May 7, 2008 to the Court to sanction the Scheme, and a
Court hearing to sanction the Scheme is scheduled to take place on
May 22, 2008. The Scheme will only become effective when the order
of the Court sanctioning the Scheme is lodged with the Accounting
and Corporate Regulatory Authority of Singapore (the 'ACRA'). ASE
Inc. and ASE Test currently anticipate that the Scheme will become
effective on May 30, 2008, pending the receipt of the order of the
Court sanctioning the Scheme, the lodging of such order with the
ACRA and the satisfaction of other customary closing conditions.
The books closure date for determining the entitlements of
shareholders of ASE Test under the Scheme is expected to be the
same date as the effective date of the Scheme. 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 probe 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 Depository 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 providers of
semiconductor testing services. It provides customers with a
complete range of semiconductor testing services, including
front-end engineering test, wafer probe, final test and other
test-related services. The ordinary shares of ASE Test are quoted
for trading on The NASDAQ 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
accordingly. 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: ASE Test Ken Hsiang (CFO) Tel: +1-510-687-2475
Email: MacKenzie Partners (UK) Limited (Proxy Solicitation Agent)
Michael Diaz Tel: +44-207-170-4155 DATASOURCE: Advanced
Semiconductor Engineering, Inc.; ASE Test Limited CONTACT: Freddie
Liu (Vice President) of ASE Inc., +8862 8780-5489, or ; or Ken
Hsiang (CFO) of ASE Test, +1-510-687-2475, or ; or Michael Diaz of
MacKenzie Partners (UK) Limited (Proxy Solicitation Agent),
+44-207-170-4155, for ASE
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