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UMC Shareholders Elect 12th term of Directors at Annual Shareholders Meeting

 

Taipei, Taiwan, R.O.C. –June 12, 2012 –United Microelectronics Corporation (NYSE: UMC; TWSE: 2303) ("UMC"), a leading global semiconductor foundry, today announced its 2012 annual shareholders meeting results. Shareholders approved all agenda items including UMC's 2011 business report and financial statements and elected the Company's 12th term of Directors. The members of the Board remain unchanged. To maintain the company's high priority of corporate governance transparency, the number of independent and outside directors this year accounts for more than half of the 9 board seats. This will help the Company retain a responsive interaction between the Board and the management team.

Non-executive Director

Experience & Education

Chun-Yen Chang

- Foreign Associate, National Academy of Engineering, U.S.A.
- Academician, Academia Sinica
- Principle, National Chiao Tung University - Ph.D. of Electronics Engineering, National Chiao Tung University

Chung Laung Liu

- Academician, Academia Sinica
- Honorary Chair Professor, National Tsing Hua University
- Principle, National Tsing Hua University - Sc. D. of Massachusetts Institute of Technology

Paul S.C. Hsu

- Chair Professor & University Professor, Yuan Ze University
- Chairman, Social Ethics Association (SEA)
- Founding Dean of College of Management, National Taiwan University - Ph.D. of Business Administration, University of Michigan

Cheng-Li Huang

- Professor of Accounting, Tamkang University
- CEO of Tamkang Accounting Education Foundation
- Publisher of Journal of Contemporary Accounting
- Controller, Tamkang University - Ph.D. of Business School, the University of Warwick

Ting-Yu Lin

- Chairman of Sunrox International Inc.
- Master of International Finance, Meiji University

At the meeting, shareholders also approved:

  1. The 2011 Business Report and Financial Statements. The Company's revenue for 2011 was NT$105.88 billion and net income after tax was NT$10.61 billion.
  2. The 2011 retained earnings distribution, which includes shareholder cash dividend of NT$6,316 million, estimated at approximately NT$0.5 per share, employee cash bonus of NT$1,618 million, and directors' remuneration of NT$9 million. The details of the dividend distribution rate and date will be set during the Company's upcoming Board Meeting.
  3. The release of the non-competition restrictions for the newly elected directors.
  4. The amendment of the Company's "Acquisition or Disposal of Assets Procedure".
  5. The issuance plan of private placement for common share, ADR/GDR or CB/ECB, including Secured or Unsecured Corporate Bonds. The amount of shares issued or convertible is proposed to be no more than 10% of registered capital.

About UMC
UMC (NYSE: UMC, TWSE: 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 28nm, 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 over 13,000 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.

Note From UMC Concerning Forward-Looking Statements
Some of the statements in the foregoing announcement are forward looking within the meaning of the U.S. Federal Securities laws, including statements about future outsourcing, wafer capacity, technologies, business relationships and market conditions. Investors are cautioned that actual events and results could differ materially from these statements as a result of a variety of factors, including conditions in the overall semiconductor market and economy; acceptance and demand for products from UMC; and technological and development risks. Further information concerning these risks is included in UMC's filings with the U.S. SEC, including on Form F-1, F-3, F-6 and 20-F, each as amended.


 

 

Bowen Huang
UMC, Investor Relations
Tel. + 886-2-2658-9168, ext. 16957
Email: bowen_huang@umc.com




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