MediaTek Inc. Corporate Announcement
TAIWAN, Hsinchu – 14 August, 2012 – MediaTek Inc., a leading fabless semiconductor company for wireless communications and digital multimedia solutions, today announced several transactions approved by the respective boards of directors of MediaTek to simplify the group holding structure and to enhance operating efficiency.
1. Gaintech Co. Limited (“Gaintech”) acquires MTK Wireless Limited and MediaTek Denmark Aps
1.1 To simplify the group holding structure and to enhance operating efficiency, the Board of Gaintech and MediaTek Singapore Pte. Ltd (“MediaTek Singapore”) approved that Gaintech will acquire the 100% shares of MTK Wireless Limited (“the UK subsidiary”) and MediaTek Denmark Aps (“the Danish subsidiary”) from MediaTek Singapore.
1.2 The transaction prices are USD 8,763,447 for the UK subsidiary and USD 4,818,755 for the Danish subsidiary.
1.3 Gaintech is 100% owned by MediaTek Investment Corporation, which is also 100% owned by MediaTek. This transaction is a group re-organization. Gaintech and MediaTek Singapore will not incur any gains or losses as a result of the group re-organization. Therefore, this transaction will not affect the interest of MTK’s shareholders and will not cause significant impact on MediaTek’s stock price.
2 MediaTek acquires MediaTek Singapore
2.1 To simplify the group holding structure and to enhance operating efficiency, the Board of MTK and Gaintech both approved that MTK will acquire the 100% shares of MediaTek Singapore from Gaintech.
2.2 The transaction price is estimated to be USD 96,533,565. As this transaction is subject to the competent authorities’ pre-approval, the actual transaction price will be MediaTek Singapore’s net asset value as of the day before the effective date which is set on 2012.10.1 tentatively.
2.3 MTK will make an announcement when the actual effective date and transaction price are determined.
2.4 Gaintech is 100% owned by MediaTek Investment Corporation, which is also 100% owned by MediaTek. This transaction is a group re-organization. The seller and the purchaser of this transaction will not incur any gains or losses. Therefore, this transaction will not affect the interest of MTK’s shareholders and will not cause significant impact on MediaTek’s stock price.
About MediaTek
Since 1997, MediaTek has been a pioneering fabless semiconductor company and a market leader in cutting-edge systems-on-chip (SoC) for mobile devices, wireless networking, HDTV, DVD and Blu-ray. Our tightly-integrated, innovative chip designs help manufacturers optimize supply chains, reduce the development time of new products, and extend a competitive edge in crowded markets. Through MediaTek Labs, the company is also building a developer hub that will support device creation, application development, and services for the Internet of Things era. By building technologies that help connect individuals to the world around them, MediaTek is enabling people to expand their horizons and more easily achieve their goals. We believe anyone can achieve something amazing. And we believe they can do it every single day. We call this idea Everyday Genius and it drives everything we do. Visit mediatek.com for more information.