Koninklijke Philips N.V.

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  • Publicatie datum 09 mrt 2007 - 10:25
  • Statutaire naam Koninklijke Philips N.V.
  • Titel Philips and TSMC announce joint plan to facilitate orderly exit by Philips from TSMC shareholding
  • Bericht March 09, 2007 PHILIPS AND TSMC ANNOUNCE JOINT PLAN TO FACILITATE ORDERLY EXIT BY PHILIPS FROM TSMC SHAREHOLDING Amsterdam, The Netherlands and Hsinchu, Taiwan – Royal Philips Electronics (NYSE:PHG, AEX:PHI) and Taiwan Semiconductor Manufacturing Company Ltd (TAIEX: 2330, NYSE: TSM) today jointly announced that the companies have agreed to a multi-phased plan to facilitate an orderly exit by Philips from its current shareholding in TSMC as follows: 1. Philips intends to sell in the near future up to USD 1.75 billion worth of TSMC shares to accommodate identified demand from long-term financial investors in Taiwan. To this end, an application has been filed today with the Taiwan Stock Exchange by Philips. 2. Philips intends to offer up to USD 2.5 billion worth of TSMC shares, in the form of American Depositary Shares, through a public offering in the United States without over-allotment option. The ADSs sold in this offering are expected to be listed on the New York Stock Exchange. This offering would follow a TSMC board resolution to approve the conversion of TSMC common shares into American Depository Shares on behalf of Philips. Each ADS represents five TSMC common shares. This transaction is subject to all regulatory approvals, including registration with the U.S. Securities and Exchange Commission, and is, subject to market conditions, expected to be completed in 2007. It is the current intention of TSMC and Philips that no further ADS offerings will be conducted in respect of Philips’ shareholding in TSMC. 3. TSMC plans to conduct a share repurchase via tender offer in 2007 on the Taiwan Stock Exchange to buy back up to approximately USD 1.5 billion worth of shares in TSMC, and cancel the repurchased shares, subject to TSMC board approval. Philips intends to participate in the share repurchase, and Philips’ representative on the TSMC Board of Directors today resigned as a director. Philips will no longer maintain any board position at TSMC. 4. TSMC int

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200703090000000018_2007-03-09 no. 15 Philips and TSMC announce joint plan to facilitate orderly exit by Philips from TSMC shareholding.doc

Datum laatste update: 07 juli 2022

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