ATIC’s Acquisition Bid Approved by Chartered Shareholders
04 Novembro 2009 - 3:08AM
Business Wire
Advanced Technology Investment Company LLC (ATIC) of Abu Dhabi
and Chartered Semiconductor Manufacturing Ltd. (Chartered) of
Singapore announced that Chartered shareholders today voted in
favor of ATIC’s offer to acquire Chartered. The proposal was
approved by 82.56 percent of the shareholders present and voting in
person or by proxy, representing 99.83 percent of the shares held
by shareholders.
“Chartered shareholders have spoken overwhelmingly in favor of
the acquisition, and I believe this reflects their recognition that
the offer by ATIC provides them with an opportunity to realize
their investment. While the acquisition still requires other
customary approvals, today’s vote was an important milestone in the
overall process. We want to thank Chartered shareholders for their
careful consideration, participation, and support, as we believe
this offer enables Chartered to accelerate its goal of becoming a
leading player in the semiconductor industry,” said Jim Norling,
chairman of the board of directors at Chartered.
On September 7, ATIC made its offer by way of a Scheme under
section 210 of the Companies Act of Singapore. Following today’s
shareholder approval, the Scheme still requires approval by the
High Court and other certain approvals. The Scheme shall become
effective and binding upon the lodgement of a copy of the order of
the Court approving the Scheme with the Accounting and Corporate
Regulatory Authority of Singapore.
"This is another positive step toward the combination of two
great companies, Chartered and Globalfoundries," said Ibrahim
Ajami, chief executive officer of ATIC. "By bringing together the
talent, technology and experience of both companies and supporting
it with our long-term philosophy and patient capital, we offer
something unique and competitive to customers and partners in this
industry."
ATIC is a technology investment company wholly owned by the
government of Abu Dhabi. This acquisition is its second major
investment in the semiconductor industry and follows the company’s
March 2009 creation of Globalfoundries, a U.S.-headquartered,
leading-edge semiconductor manufacturing company and a joint
venture with AMD. The acquisition of Chartered is made through ATIC
International Investment Company LLC, a wholly owned subsidiary of
ATIC. Once the transaction is completed, ATIC will be the sole
owner of Chartered.
RESPONSIBILITY STATEMENT
The directors of Chartered Semiconductor Manufacturing Ltd.
(Chartered) (including those who may have delegated detailed
supervision of this Press Release) have taken all reasonable care
to ensure that the facts stated and all opinions expressed in this
Press Release are fair and 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 Chartered 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. The directors of
Chartered do not accept any responsibility for any information
relating to or opinions expressed by or on behalf of Advanced
Technology Investment Company LLC and/or ATIC International
Investment Company LLC.
The directors of both the Advanced Technology Investment Company
LLC (ATIC) and ATIC International Investment Company LLC (including
those who may have delegated detailed supervision of this Press
Release) have taken all reasonable care to ensure that the facts
stated and all opinions expressed in this Press Release are fair
and 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 ATIC and the directors of ATIC International
Investment Company LLC 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. The directors of ATIC and the directors of ATIC
International Investment Company LLC do not accept any
responsibility for any information relating to or opinions
expressed by or on behalf of Chartered.
For more information on the announcement, go to:
www.advancedtechnologyic.com and www.charteredsemi.com.
About Chartered
Chartered Semiconductor Manufacturing Ltd. (Nasdaq:CHRT)
(SGX-ST:CHARTEREDSC), one of the world’s top dedicated
semiconductor foundries, offers leading-edge technologies down to
40/45 nanometer (nm), enabling today’s system-on-chip designs. The
company further serves its customers’ needs through a
collaborative, joint development approach on a technology roadmap
that extends to 22nm. Chartered’s strategy is based on open and
comprehensive design enablement solutions, manufacturing
enhancement strategies, and a commitment to flexible sourcing. In
Singapore, the company owns or has an interest in six fabrication
facilities, including a 300mm fabrication facility and five 200mm
facilities. Information about Chartered can be found at
www.charteredsemi.com.
About ATIC
The Advanced Technology Investment Company (ATIC) was created in
2008. A technology investment company wholly owned by the
Government of Abu Dhabi, ATIC is focused on making significant
investments in the advanced technology sector, both locally and
internationally. Its mandate is to generate returns that deliver
long-term benefits to the Emirate of Abu Dhabi.
ATIC seeks to leverage the unique advantages it enjoys as an
investor from the Emirate of Abu Dhabi to identify and realize
long-term investment opportunities in the highly competitive and
capital-intensive advanced technology sector. These advantages
include significant and reliable capital, a patient investment
philosophy, and a subsequently long-term investment horizon. For
more information about ATIC visit www.advancedtechnologyic.com
Forward-Looking Statement
This Press Release contains forward-looking statements, which
are made pursuant to the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include, without limitation, statements relating to the
future plans of Chartered following the acquisition and the
expected benefits from the acquisition. These forward-looking
statements are based on the current expectations of the management
of Chartered and the management of ATIC and ATIC International
Investment Company LLC (as applicable) and are subject to risks and
uncertainties that could cause actual results to differ materially
from expectations. These forward-looking statements should not be
relied upon as predictions of future events as Chartered, ATIC and
ATIC International Investment Company LLC cannot assure you that
the events or circumstances reflected in these statements will be
achieved or will occur. In particular, Chartered, ATIC and ATIC
International Investment Company LLC cannot assure you that the
Scheme will be approved by the High Court of Singapore, that other
conditions precedent to the closing of the transaction will be
satisfied or that such acquisition will occur.
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