SPIL To Terminate Strategic Alliance, Share Subscription Deals With Unigroup

(RTTNews) - Taiwan's Siliconware Precision Industries Co., Ltd. (SPIL) late Wednesday announced that it has resolved to terminate its strategic alliance agreement and share subscription agreement with Tsinghua Unigroup Ltd.

Siliconware had previously resolved to conduct a private placement of common shares pursuant to a board resolution on December 11, 2015 and had on even date executed a Share Subscription Agreement and Strategic Alliance Agreement with Tsinghua.

The termination decision was taken after consideration of subjective and objective factors of the Company and Unigroup.

Siliconware said its Board resolved to terminate the Private Placement on April 28 and execute a termination agreement with Unigroup, mutually agreeing to terminate both agreements.

The Company's board of directors will authorize the chairman and/or another designated person to represent the Company in executing a termination agreement with Unigroup. The assigned person will also fully handle all matters relating to terminating the Private Placement in accordance with law.