TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED TSMC (NYSE: TSM) today held a meeting of the Board of Directors, which passed the following resolutions:
1. Approved capital appropriations of approximately US$3,790.4 million for purposes including: 1) Expansion of advanced technology capacity; 2) Conversion of certain logic capacity to specialty technologies; 3) Fourth quarter 2016 R&D capital investments and sustaining capital expenditures.
2. To simplify investment structure, the board also approved TSMC's acquisition from VisEra Holding Company of 86.9% shareholding in VisEra Technologies Company Ltd. at the book value, and 6.9% shareholding in Xintec Inc. at the market price. As a result, VisEra Holding Company will be dissolved and merged into TSMC Partners, Ltd., which is 100% owned by TSMC. After the transaction, TSMC will own 86.9% of VisEra Technologies Company Ltd. and 41.3% of Xintec Inc. directly, which are the same as what TSMC has held directly and indirectly prior to this transaction.
TSMC - Taiwan Semiconductor Manufacturing Company Ltd. published this content on 02 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 02 August 2016 09:45:06 UTC.
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