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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.
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