Business Context and Reporting Period
This Form 6-K, filed on May 6, 2008, by Advanced Semiconductor Engineering, Inc. (ASE Inc.), reports a material corporate event regarding its majority-owned subsidiary, ASE Test Limited (ASE Test). ASE Inc. is a leading global provider of integrated circuit packaging services, while ASE Test is a leading provider of semiconductor testing services.
Key Financial Metrics
The filing does not provide specific financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity for the reporting period. The document focuses exclusively on the terms of a corporate transaction.
Material Changes and Transaction Details
Shareholders of ASE Test have approved a "going private" acquisition by ASE Inc. via a scheme of arrangement under Singapore law. Key terms include:
- Acquisition Price: ASE Inc. will acquire outstanding ordinary shares of ASE Test for US$14.78 per share in cash.
- Depository Shares: Taiwan depository shares (representing 0.0125 ordinary shares) will be acquired for the NT$ equivalent of US$0.185 per share.
- Payment Timeline: Payment is scheduled within 10 calendar days of the Scheme's effective date.
- Conditions: The transaction is subject to sanction by the High Court of Singapore, regulatory lodgement, and other customary closing conditions.
Outlook, Risks, and Management Commentary
Management has issued standard forward-looking statements, noting that actual results may differ materially from expectations due to known and unknown risks. The filing emphasizes that the transaction is contingent upon court approval and regulatory satisfaction. No specific operational guidance or risk factors beyond the transaction's closing conditions are detailed in this document.
Investor Verification Checklist
- Confirm the date of the High Court of Singapore hearing to sanction the Scheme.
- Verify the anticipated effective date of the Scheme once announced.
- Monitor the delisting status of ASE Test from the NASDAQ Global Market and Taiwan Stock Exchange following the transaction.
- Review the final cash consideration payment date relative to the effective date.