Science-Based Industrial Park, Hsinchu, Taiwan, April 14, 2000 - Taiwan Semiconductor Manufacturing Company Ltd. (TSMC or the “Company”) (NYSE: TSM) today held a meeting of the Board of Directors and Supervisors. At the meeting the directors present elected Dr. Morris Chang unanimously as Chairman of the Board.
TSMC spokesperson Mr. Y.C. Huang pointed out the major conclusions of this Board meeting are as followed:
Approved the following matters relating to issuance of new shares to sponsor the issuance of American depository receipts (ADRs), and sponsoring the issuance of ADRs by TSMC shareholders: (1) Approved the issuance of 115,000,000 common shares at premium, par value NT$10 per share, to sponsor the issuance of ADRs. (2) Approve sponsoring the sale of not more than 80,500,000 TSMC common shares by certain shareholders in forms of ADRs. 55,000,000 shares among the 80,500,000 shares will be sold together with the new shares issued by TSMC, and the remaining 25,500,000 shares will be sold if the underwriter exercises its Over-allotment Option.
Approved the increase of investment of TSMC North America in the amount of US$ 10,000,000 to accommodate the expansion of marketing and technical support to customers.
Approved the appointment of Mr. Rick Tsai as Executive Vice President, Operations.
This announcement does not constitute an offer to sell, or solicitation of an offer to buy, any securities in the United States or elsewhere and any such offer in the United States may be made only be way of a prospectus registered under the Securities Act of 1933, as amended.