TAIPEI, Taiwan, May 23 /Xinhua-PRNewswire-FirstCall/ --
ASE Test Limited (Nasdaq: ASTSF; TAIEX: 9101, "ASE Test") today announced its intention to delist its ordinary shares from The NASDAQ Global Market ("NASDAQ") in connection with the proposed ''going private'' acquisition by Advanced Semiconductor Engineering, Inc. ("ASE Inc.") of the outstanding ordinary shares of ASE Test that ASE Inc. does not directly or indirectly own, by way of a scheme of arrangement under the Companies Act, Chapter 50 of Singapore (the ''Scheme''). The Scheme was approved by the requisite majority of unaffiliated shareholders of ASE Test at the May 6, 2008 shareholder meeting convened by an Order of the High Court of the Republic of Singapore (the "Court"). The Court has issued an order today sanctioning the Scheme. The Scheme is expected to become effective on May 30, and thereafter ASE Test will become an indirect wholly-owned subsidiary of ASE Inc.
In accordance with the rules of the Securities and Exchange Commission (the "SEC") and NASDAQ, ASE Test has provided written notice to NASDAQ of its intent to delist and expects to file a Form 25 with the SEC to effect the delisting on or about June 2, 2008. The delisting of ASE Test's ordinary shares will be effective ten days after the filing of the Form 25. ASE Test has not arranged for the listing or quotation of its ordinary shares on another national securities exchange or for the quotation of its ordinary shares in a quotation medium.
About ASE Test
ASE Test is one of the world's largest independent providers of semiconductor testing services. It provides customers with a complete range of semiconductor testing services, including front-end engineering test, wafer probe, final test and other test-related services.
The ordinary shares of ASE Test are quoted for trading on The NASDAQ Global Market under the symbol "ASTSF". ASE Test's Taiwan Depository Shares, which represent its ordinary shares, are listed for trading on the Taiwan Stock Exchange under the symbol "9101".
The directors of ASE Test (including any director who may have delegated detailed supervision of this press release) have taken all reasonable care to ensure that the facts stated and opinions expressed in this press release are fair or 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 ASE Test 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.
Forward-Looking Statements
All statements other than statements of historical facts included in this press release are or may be forward-looking statements. Forward-looking statements include, but are not limited to, those using words such as "seek", "expect", "anticipate", "estimate", "believe", "intend", "project", "plan", "strategy", "forecast" and similar expressions or future or conditional verbs such as "will", "would", "should", "could", "may" and "might". These statements reflect ASE Test's current expectations, beliefs, hopes, intentions or strategies regarding the future and assumptions in light of currently available information. Such forward-looking statements are not guarantees of future performance or events and involve known and unknown risks and uncertainties. Accordingly, actual results may differ materially from those described in such forward-looking statements. Shareholders and investors should not place undue reliance on such forward-looking statements, ASE Test undertake no obligation to update publicly or revise any forward-looking statements.
For further information please contact:
Ken Hsiang (CFO)
Tel: +1-510-687-2475
Email: ken_hsiang@aseglobal.com
