ASE yesterday in a news report announced that SPIL shareholders who are against rated capital sharing will on October 10 increase from the current level of 3.6 billion shares to 5 billion. Yesterday ASE also insisted that the SPIL Management Team make a commitment to shareholders in a specific official document.

ASE believes that issuing new shares to specific people will deprive the interests of SPIL’s shareholders and employees, thus they must first submit a shareholder resolution before issuing new shares.

However, SPIL believes this impromptu shareholder’s proposal was made in compliance with company regulations, and they proposed raising the authorized the capital from 3,600,000,000 shares to 50 million shares. This includes shared stocks with Foxconn as well as amounts set aside for future operations and funding needs.

However, ASE believes that a capital increase from 36 million shares to 42 million shares will be sufficient for a stock sharing alliance between SPIL and Foxconn.

(TR/Phil Sweeney)