HSINCHU, Taiwan, Nov. 17 /Xinhua-PRNewswire-FirstCall/ -- ChipMOS
TECHNOLOGIES (Bermuda) LTD. ('ChipMOS' or the 'Company') (Nasdaq: IMOS)
announced that on November 14, 2008, the Board of the Company approved a stock
purchase plan in conjunction with ThaiLin Semiconductor Corp. ('ThaiLin'), a
subsidiary 41.2% owned by the Company's wholly owned subsidiary, ChipMOS
TECHNOLOGIES INC. ('ChipMOS Taiwan'). The stock purchase plan will acquire
IMOS shares in accordance with the requirements of Rule 10b-5-(c)(1) and Rule
10b-18 under the Securities Exchange Act of 1934, as amended with a maximum
purchase amount of US$3 million to be held by ThaiLin for investment purposes.
The stock repurchase plan was also approved by the ThaiLin Board on November
15, 2008 and will be implemented with only one designated broker/dealer.
Separately, the chairman and chief executive officer of the Company, Mr.
Shih-Jye Cheng, will purchase US$500 thousand of IMOS shares pursuant to 10b5-
1 share purchase program with a designated broker/dealer.
Additionally, the board of the Company also conditionally approved a
request from Siliconware Precision Industries Co., Ltd. ('SPIL') (TAIEX: 2325;
Nasdaq: SPIL) to exercise a registration right for SPIL's entire holding of
company shares (12,174,998 shares) pursuant to a March 27, 2007 registration
rights agreement with the Company. The Company believes it is possible that
other registration rights holders may also wish to participate in the shelf
registration undertaken at SPIL's request and will accommodate additional
registration rights requests. The Board's approval of a shelf registration
was conditioned upon an agreement with SPIL and any other registrants to
refrain from any share distribution during the ThaiLin share purchase program
so as to avoid conflict with relevant SEC regulations and safe harbor
provisions.
About ChipMOS TECHNOLOGIES (Bermuda) LTD.:
ChipMOS ( http://www.chipmos.com/ ) is a leading independent provider of
semiconductor testing and assembly services to customers in Taiwan, Japan, and
the U.S. With advanced facilities in Hsinchu and Southern Taiwan Science Parks
in Taiwan and Shanghai, ChipMOS and its subsidiaries provide testing and
assembly services to a broad range of customers, including leading fabless
semiconductor companies, integrated device manufacturers and independent
semiconductor foundries.
Forward-Looking Statements
Certain statements contained in this announcement may be viewed as
'forward-looking statements' within the meaning of Section 27A of the U.S.
Securities Act of 1933, as amended, and Section 21E of the U.S. Securities
Exchange Act of 1934, as amended. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors, which may cause the
actual performance, financial condition or results of operations of the
Company to be materially different from any future performance, financial
condition or results of operations implied by such forward-looking statements.
Further information regarding these risks, uncertainties and other factors is
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. S.K. Chen
ChipMOS TECHNOLOGIES (Bermuda) LTD.
Tel: +886-6-507-7712
Email: s.k._chen@chipmos.com
In the U.S.
Joseph Villalta
The Ruth Group
Tel: +1-646-536-7003
Email: jvillalta@theruthgroup.com
SOURCE ChipMOS TECHNOLOGIES (Bermuda) LTD.
