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UMC Shareholders Approve the Acquisition of He Jian Technology (Suzhou) Co., Ltd. and Elect 11th term of Directors at Annual Shareholders Meeting

 

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.

 Independent 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 of Management, Yuan-Ze University
 Chairman, Taiwan Assessment and Evaluation Association
 Founding Dean of College of Management, National Taiwan University
 Ph.D. of Business Administration, University of Michigan
Cheng-Li Huang  Associate Professor of Accounting, Tamkang University
 CEO of Tamkang Accounting Education Foundation
 Publisher of Journal of Contemporary Accounting Controller,  Publisher of Journal of Contemporary Accounting Controller,  Tamkang University
 Ph.D. of Business School, the University of Warwick

At the meeting, shareholders also approved:
1. The 2008 Business Report and Financial Statements. The Company's revenue for 2008 was NT$92.53 billion and net loss was NT$22.32 billion.
2. An appropriation of NT$26,748,416,346 to offset accumulated deficit at the end of 2008, which includes NT$19,711,864,516 from legal reserve and NT$7,036,551,830 from additional paid-in capital - Premium.
3. The amendment of the Company's "Loan Procedure" in Article 9, 10, 11, 12, 13, "Endorsements and Guarantees Procedure" in Article 2, 5, 6, 8, 10, 11, 12, "Financial Derivatives Transaction Procedure" in Article 3, 7, 9, 10, and "Acquisition or Disposal of Assets Procedure" in Article 5, 15, 28 to accommodate the amendment of "Regulations Governing Loaning of Funds and Making of Endorsements/Guarantees by Public Companies" by Financial Supervisory Commission, Executive Yuan and the establishment of Audit Committee.

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.

 

 

Bowen Huang / Tien Yu Tseng
UMC, Investor Relations
Tel. + 886-2-2700-6999, ext. 6957
bowen_huang@umc.com
Tien_Yu_Tseng@umc.com

 

   

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