Taipei, Taiwan, R.O.C. - June 10, 2009 - United Microelectronics Corporation (TWSE: 2303, NYSE: UMC), today held its 2009 annual shareholders meeting, during which shareholders approved UMC's acquisition of the holding company of He Jian Technology (Suzhou) Co., Ltd. ("He Jian"). When completed, in addition to enhancing shareholder value, the acquisition will allow UMC to expand beyond its current market reach, expedite business growth, increase profitability and increase UMC's business competitiveness. The completion of the acquisition is subject to approval from government authorities. The shareholders also approved the new share issuance for the merger with the holding companies of He Jian. In order to strengthen the board and corporate governance structure and to further increase the board's efficiency and supervision to protect shareholders' value, four independent directors and one outside director were elected during the meeting for the Company's 11th term of Directors. Since the number of independent and outside directors will account for more than half of the 9 board seats, this action will significantly help to increase operating transparency as well as maintain the interaction and balance between the board and the management team. |
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At the meeting, shareholders also approved:
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About UMC |
UMC (NYSE: UMC, TSE: 2303) is a leading global semiconductor foundry that provides advanced technology and manufacturing services for applications spanning every major sector of the IC industry. UMC's customer-driven foundry solutions allow chip designers to leverage the strength of the company's leading-edge processes, which include production proven 65nm, 45/40nm, mixed signal/RFCMOS, and a wide range of specialty technologies. Production is supported through 10 wafer manufacturing facilities that include two advanced 300mm fabs; Fab 12A in Taiwan and Singapore-based Fab 12i are both in volume production for a variety of customer products. The company employs approximately 12,000 people worldwide and has offices in Taiwan, Japan, Singapore, Europe, and the United States. UMC can be found on the web at http://www.umc.com. |
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