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Winbond's Board of Directors approve the Merger of investment Corporations and the Acquisition of Shares of Chin Xin Investment Co. Ltd.

Hsinchu, Taiwan, Nov. 12, 2012-Winbond Electronics Corp. (“Windond”)(2344) today announced that the Board of Directors have approved the merger of three investment companies which included Win Investment Corporation, Winbond’s wholly-owned subsidiary, Chin Xin Investment Co., Ltd. and Ta Cherng Investment Co., Ltd., subsidiaries of Walsin Lihwa Group. in an all-stock transaction and the acquisition of 40million shares of Chin Xin Investment Co., Ltd.

 

Chin Xin Investment Co., Ltd. is a wholly-owned subsidiary of Walsin Lihwa. The major shareholders of Ta Cherng Investment Co., Ltd. are members of Walsin Lihwa Group, which principal business is general investments. According to Winbond, the merger would integrate the group resources, actively develop the asset management business and improve the efficiency of portfolio management. Pending the standard regulatory approvals, the transaction is expected to close on Dec. 31, 2012.

After the merger, Chin Xin Investment Co., Ltd. shall be the surviving company, while Win Investment Corporation and Ta Cherng Investment Co., Ltd. shall be the dissolved companies.

 

Winbond will purchase from Walsin Lihwa 40million shares of the common stock of its investment in Chin Xin Investment Co., Ltd. at a price of NT$10.096412 per share .The total capital involved is NT$0.404 billion . The proposal for acquisition has been approved by the board of directors and ratified by the supervisors. This acquisition is persuaded to the requirements stipulated in the “Regulations Governing the Acquisition and Disposal of Assets by Public Companies”.


 

 Corporate Spokesperson

James  Wen

Finance Center  Vice President

TEL: 886-3-5678168

        886-975-560389

 

 

News Liaison

Mandy  Wang

Investor Relationship Dept.

TEL: 886-3-5678168 #81477

         886-975-995525

E-mail:YCWang16@winbond.com

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