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UPDATE: ChipMOS SUBMITS CAPITAL REDUCTION TO NASDAQ

2018-10-12 18:00 425

HSINCHU, , Oct. 12, 2018 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), announced it has submitted a capital reduction form to NASDAQ, as notification of the following actions for the Company's American Depositary Shares ("ADRs"):

  • Type of Distribution: Capital Reduction
  • ADR Effective Date: November 2, 2018
  • ADR Capital Reduction Distribution Date: To be determined by the Depositary, Citibank NA ("Citi"), after Citi receives the distribution from the Company, which is expected to occur on October 31, 2018.
  • ADR books will be closed from October 17, 2018 to November 2, 2018 to coincide with the Taiwan local share book close period of October 21, 2018 to October 25, 2018. ADRs will continue to be available for normal trading on NASDAQ under ticker IMOS during this period.
  • Capital will be returned to common stock shareholders via cash payment at approximately NT$1.5 per common share. The final amount to be distributed to ADR holders in the United States Dollars will be determined by the Depositary, Citibank NA, after it receives the distribution from the Company (which is expected to occur on October 31, 2018), converts the amount from New Taiwan Dollars into United States Dollars and deducts appropriate taxes and fees, if any. There will be a concurrent 15.00768749% reduction in total outstanding ADRs.

Questions regarding the Company's 2018 Capital Reduction Plan distribution may be directed to Thomas Wood (thomas.r.wood@citi.com) at +1.212.816.6530.

About ChipMOS TECHNOLOGIES INC.:

ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS) (http://www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS provide assembly and test services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.

Forward-Looking Statements

This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as 'believes,' 'expects,' 'anticipates,' 'projects,' 'intends,' 'should,' 'seeks,' 'estimates,' 'future' or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors. Further information regarding these risks, uncertainties and other factors are included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC.

Contacts:

In Taiwan

Dr. G.S. Shen

ChipMOS TECHNOLOGIES INC.

+886-3-5668877

g.s._shen@chipmos.com

 

In the U.S.

David Pasquale

Global IR Partners

+1-914-337-8801

dpasquale@globalirpartners.com 

Cision View original content:http://www.prnewswire.com/news-releases/update-chipmos-submits-capital-reduction-to-nasdaq-300730076.html

Source: ChipMOS TECHNOLOGIES INC.
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