ATIC's Acquisitation of Chartered Becomes Effective Today

SINGAPORE — December 24, 2009 — Advanced Technology Investment Company LLC (ATIC) of Abu Dhabi and Chartered Semiconductor Manufacturing Ltd. (Chartered) of Singapore announced that ATIC’s acquisition of Chartered becomes effective today.

ATIC made its acquisition by way of a scheme of arrangement under section 210 of the Companies Act of Singapore (the Scheme), and Chartered ordinary shareholders approved the acquisition last month. As all the requisite regulatory approvals and conditions precedent have been received, a copy of the order of the High Court sanctioning the Scheme was lodged with the Accounting and Corporate Regulatory Authority of Singapore today, making the Scheme effective and binding on all Chartered ordinary shareholders.

"The acquisition process is now completed. On behalf of the Board, I want to express my sincere gratitude for the support of our ordinary shareholders who overwhelmingly voted in favor of this transaction and to our employees who have continued to deliver their best to customers during this transition phase,” said Jim Norling, chairman of the board of directors at Chartered.

“With the approval process behind us, we will now focus our attention on combining two great companies, Chartered and GLOBALFOUNDRIES," said Ibrahim Ajami, chief executive officer of ATIC. “Customers have told us they are excited about the combination of technology, talent and capacity this new entity will bring to the marketplace. We share their enthusiasm.”

The American Depositary Share (“ADS”) program of Chartered will be terminated with effect from today and the ADSs will cease trading. Chartered is scheduled to be delisted from the Nasdaq on December 28, 2009 and the SGX on December 29, 2009, and will be deregistered from the US Securities Exchange Commission in due course. The date for payment to shareholders is scheduled for December 28, 2009.

ATIC is a technology investment company wholly owned by the government of Abu Dhabi. This acquisition is its second major investment in the semiconductor industry and follows its creation in March 2009 of Globalfoundries, a U.S.-headquartered, leading-edge semiconductor manufacturing company and a joint venture with AMD. The acquisition of Chartered is made through ATIC International Investment Company LLC, a wholly-owned subsidiary of ATIC.

About Chartered


Chartered Semiconductor Manufacturing Ltd. (Nasdaq: CHRT, SGX-ST: CHARTEREDSC), one of the world’s top dedicated semiconductor foundries, offers leading-edge technologies down to 40/45 nanometer (nm), enabling today’s system-on-chip designs. The company further serves its customers’ needs through a collaborative, joint development approach on a technology roadmap that extends to 22nm. Chartered’s strategy is based on open and comprehensive design enablement solutions, manufacturing enhancement strategies, and a commitment to flexible sourcing. In Singapore, the company owns or has an interest in six fabrication facilities, including a 300mm fabrication facility and five 200mm facilities. Information about Chartered can be found at www.charteredsemi.com.

About ATIC


The Advanced Technology Investment Company (ATIC) was created in 2008. A technology investment company wholly owned by the Government of Abu Dhabi, ATIC is focused on making significant investments in the advanced technology sector, both locally and internationally. Its mandate is to generate returns that deliver long-term benefits to the Emirate of Abu Dhabi.

ATIC seeks to leverage the unique advantages it enjoys as an investor from the Emirate of Abu Dhabi to identify and realize long-term investment opportunities in the highly competitive and capital-intensive advanced technology sector. These advantages include significant and reliable capital, a patient investment philosophy, and a subsequently longterm investment horizon. For more information about ATIC visit www.advancedtechnologyic.com



Contact:


U.S. Contact:
Tiffany Sparks
Tel.: +1 408 941.1185
E-mail: Email Contact

Singapore Contact:
Evangelina Wee
Tel.: +65 6339 9110
E-mail: Email Contact

U.S. IR Contact:
Suresh Kumar
Tel.: +1 408 941.1110
E-mail: Email Contact

Singapore IR Contact:
Li Chuen Lim
Tel.: +65 6360 4060
E-mail: Email Contact

ATIC:
Abu Dhabi Contact:
Brian Lott
Tel.: +971 2413 3459
E-mail: Email Contact

U.S. Contact:
Amanda Orr
Tel.: +1 202 295.8786
E-mail: Email Contact


Rating:


Review Article Be the first to review this article
CST Webinar Series

EMA:

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Retail Therapy: Jump starting Black Friday
Peggy AycinenaIP Showcase
by Peggy Aycinena
REUSE 2016: Addressing the Four Freedoms
More Editorial  
Jobs
ACCOUNT MANAGER MUNICH GERMANY EU for EDA Careers at MUNICH, Germany
AE-APPS SUPPORT/TMM for EDA Careers at San Jose-SOCAL-AZ, CA
FAE FIELD APPLICATIONS SAN DIEGO for EDA Careers at San Diego, CA
Manager, Field Applications Engineering for Real Intent at Sunnyvale, CA
Development Engineer-WEB SKILLS +++ for EDA Careers at North Valley, CA
Upcoming Events
Zuken Innovation World 2017, April 24 - 26, 2017, Hilton Head Marriott Resort & Spa in Hilton Head Island, SC at Hilton Head Marriott Resort & Spa Hilton Head Island NC - Apr 24 - 26, 2017
CST Webinar Series



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy