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1.Date of occurrence of the event:2021/09/03 United Microelectronics Corporation (TWSE:2303) (”UMC”) and Chipbond Technology Corporation (TPExE: 6147) (”Chipbond”) provide respectively wafer manufacturing services as well as IC packaging and testing services in semiconductor industry, and the two Companies have already cooperated closely with each other in LCD driver IC industry for many years. The Board of directors of Chipbond, UMC and Fortune Venture Capital(a 100% subsidiary of UMC) have respectively approved the proposal of share exchange today and the three parties agreed to exchange shares in accordance with Article 156-3 of the Company Act. Under the terms of the agreement, Chipbond will issue new shares of 67,152,322 common stocks in exchange for 61,107,841 shares of UMC’s newly-issued common stocks and 16,078,737 shares of UMC’s issued common shares held by Fortune Venture Capital. The share exchange ratio is 0.87 newly-issued common share of the Company exchange for 1 UMC's common shares. After the Company and UMC exchange shares, the Company will hold approximately 0.62% shares of UMC, whereas UMC and its subsidiary Fortune Venture Capital will jointly hold around 9.09 % of the Company's shares. UMC has actively engaged in the development of compound semiconductor Gallium Nitride (GaN) power components and radio frequency component process development targeting market opportunities for high-efficiency power components and 5G radio frequency components in recent years, while Chipbond has been committed to power component device and radio frequency component market for many years and occupied a pivotal position in this industry. Chipbond offers comprehensive services including flip chip bumping (Bumping), thick copper heavy wiring (RDL) and wafer-level chip size (WLCSP) packaging and testing, in addition to silicon (Si), the applicable wafer materials have also begun mass production on compound wafers such as Potassium Arsenide(GaAs), Silicon Carbide (SiC), and Gallium Nitride (GaN) and also commits to developing advanced packaging technologies, such as fan-out system in package(FOSiP), as well as Flip-chip system in package (FCSiP). UMC and Chipbond locates discretely in the upstream and downstream of the industry supply chain and both companies will create synergies by jointly cooperating with each other in these market segments. Both UMC and Chipbond are global IC suppliers in the semiconductor industry and have great complementary advantages. Through the share exchange agreement to establish practical strategic partnership, the two Companies will work closely together to integrate process technologies and marketing strategies, and provide IC design customers with much more comprehensive, rapid, and advanced all-round services as well as create a win-win situation.
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