0000950103-15-009670.txt : 20151222 0000950103-15-009670.hdr.sgml : 20151222 20151222160029 ACCESSION NUMBER: 0000950103-15-009670 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20151222 DATE AS OF CHANGE: 20151222 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SILICONWARE PRECISION INDUSTRIES CO LTD CENTRAL INDEX KEY: 0001111759 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-79592 FILM NUMBER: 151302209 BUSINESS ADDRESS: STREET 1: #123 SECTION 3 DA FONG RD TANTZU STREET 2: TANTZU TAICHUNG 427 CITY: TAIWAN R O C STATE: F5 ZIP: 00000 BUSINESS PHONE: 886 42534 1525 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ADVANCED SEMICONDUCTOR ENGINEERING INC CENTRAL INDEX KEY: 0001122411 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 26 CHIN THIRD ROAD STREET 2: NANTZE EXPORT PROCESSING ZONE CITY: KAOHSIUNG TAIWAN STATE: F5 ZIP: 00000 MAIL ADDRESS: STREET 1: 26 CHIN THIRD ROAD STREET 2: NANTZE EXPORT PROCESSING ZONE CITY: KAOHSIUNG TAIWAN STATE: F5 ZIP: 00000 SC 13D/A 1 dp62017_sc13da-9.htm FORM SC 13D/A

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 9)
 
SILICONWARE PRECISION INDUSTRIES CO., LTD.
(Name of Issuer)
 

Common Shares, Par Value NT$10.00 Per Share and

American Depositary Shares, Each Representing Five Common Shares

(Title of Class of Securities)
 
827084864 (American Depositary Shares)
(CUSIP Number of Class of Securities)
 
TW0002325008 (Common Shares)
(ISIN Number of Class of Securities)

 

Joseph Tung

Room 1901, No. 333, Section 1 Keelung Rd.

Taipei, Taiwan, 110

Republic of China

Tel: +886 2-6636-5678

(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)

 

With a copy to:

 

George R. Bason, Jr.

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, New York 10017

Telephone: +1 (212) 450-4000

 

December 22, 2015
(Date of Event which Requires Filing of this Statement)
 
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-l(f) or 240.13d-l(g), check the following box.  
 
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
 
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 
 

 

CUSIP No.

 

827084864

 

 
1.

Names of Reporting Persons.

 

Advanced Semiconductor Engineering, Inc.

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a)

 

(b)

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)

 

WC

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

 

6.

Citizenship or Place of Organization

 

Republic of China

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 7.

Sole Voting Power

 

779,000,000

 

8.

Shared Voting Power

 

 

9.

Sole Dispositive Power

 

779,000,000

 

10.

Shared Dispositive Power

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

779,000,0001

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

 

13.

Percent of Class Represented by Amount in Row (11)

 

24.99%

 

14.

Type of Reporting Person (See Instructions)

 

HC, CO

 

       

 _____________________

 

1 Includes 725,749,060 Common Shares of Siliconware Precision Industries Co., Ltd. (“SPIL”), par value NT$10.00 per share (“Common Shares”) and 10,650,188 American depositary shares (“ADSs”) of SPIL, each representing five Common Shares.

 

 
 

 

Item 1. Security and Issuer

 

Advanced Semiconductor Engineering, Inc. ( “ASE”) hereby amends and supplements its report on Schedule 13D, as filed on October 2, 2015 (the “Schedule 13D”), with respect to the Common Shares, NT$10 par value per share (the “Common Shares”), and American depositary shares, each representing five Common Shares (“ADSs”), of Siliconware Precision Industries Co., Ltd., a company limited by shares under the Company Law of the Republic of China (“SPIL). Unless otherwise indicated, capitalized terms used in this Amendment No. 9, but not defined herein, shall have the meaning assigned to such terms in the Schedule 13D.

 

Except as set forth herein, the Schedule 13D is unmodified.

 

Item 4. Purpose of Transaction

 

Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following information:

 

As of December 21, 2015, SPIL’s board of directors had not responded to ASE’s written proposal to acquire 100% of SPIL’s outstanding Common Shares not owned by ASE for NT$55 per share and 100% of its outstanding ADSs not owned by ASE for NT$275 per ADS. ASE believes that at its existing ownership level it will continue to face defensive measures from SPIL thereby eliminating any realistic possibility of a cooperative dialogue between the parties, and that this inherently unstable situation will have an adverse effect on the interests of ASE’s and SPIL’s shareholders.

 

Accordingly, on December 22, 2015, in order to protect ASE’s investment in SPIL, ASE announced that it plans to commence on December 29, 2015 concurrent tender offers in the Republic of China (the “ROC Offer”) and in the United States (the “U.S. Offer”, together with the ROC Offer, the “Offers”) for up to 770,000,000 Common Shares (approximately 24.71% of the issued and outstanding share capital of SPIL), including those represented by ADSs, at a price of NT$55 per Common Share and NT$275 per ADS.

 

If the Offers are consummated, subject to either (i) SPIL’s shareholders not approving the transaction with Tsinghua Unigroup Ltd. (the “Third Party Transaction”) at the proposed extraordinary shareholders’ meeting on January 28, 2016 or (ii) SPIL terminating the Third Party Transaction in accordance with its terms or applicable law and cancelling the proposed extraordinary shareholders’ meeting, ASE will seek to cause SPIL to enter into a share exchange or other similar business combination with ASE pursuant to which ASE would acquire 100% of the shares of SPIL not owned by ASE (a “Proposed Combination”) for the consideration of NT$55 per Common Share and NT$275 per ADS (subject to adjustment if SPIL issues shares or cash dividends prior to the closing of such Proposed Combination or otherwise in accordance with applicable law).  In order to implement the Proposed Combination, if the Offers are consummated, ASE will seek to discharge SPIL’s board of directors (the “SPIL Board”) at one or more shareholders’ meetings or await the expiration of the current Board’s term and elect new nominees to the SPIL Board.  If after such election one-half or more of the SPIL Board is composed of candidates nominated or designated by ASE, ASE intends to cause the SPIL Board to resolve in favor of a Proposed Combination.  The consummation of any Proposed Combination will (i) require approval by SPIL and ASE at their respective board and shareholders’ meetings and (ii) be subject to receipt of all requisite competition, antitrust or other government approvals.

 

During and after completion of the Offers, subject to applicable law, ASE may make additional proposals to SPIL and otherwise attempt to influence the management of SPIL.  In addition, ASE may consider other possibilities, including further acquisitions of Common Shares and ADSs after the expiration date of the Offers, whether in the market or through one or more tender offers, or one or more other potential transactions. After completion of the Offers, ASE will continue to review its investment in SPIL on the basis of available information.

 

A copy of ASE’s Press Release is attached as Exhibit 12.

 

Item 7. Material to be Filed as Exhibits

 

Exhibit 12: Press Release dated December 22, 2015.

 

 
 

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: December 22, 2015

 

ADVANCED SEMICONDUCTOR ENGINEERING, INC.
   
By: /s/ Joseph Tung
  Name: Joseph Tung
  Title: Chief Financial Officer

 

 

 

 

 

EX-99.12 2 dp62017_ex9912.htm EXHIBIT 12

Exhibit 99.12

 

 

Advanced Semiconductor Engineering, Inc.

 

Investor Relations Contact:

Iris Wu, Manager

irissh_wu@aseglobal.com

Tel: +886.2.6636.5678

http://www.aseglobal.com

 

December 22, 2015

 

ASE to Commence ROC and U.S. Tender Offers for

Common Shares and ADSs of SPIL

 

December 22, 2015 – Advanced Semiconductor Engineering, Inc. (TWSE Code: 2311, NYSE Code: ASX) (“ASE”) announced today that it plans to commence on December 29, 2015 concurrent tender offers in the Republic of China (the “ROC Offer”) and in the United States (the “U.S. Offer,” and together with the ROC Offer, the “Tender Offer”) for common shares, including those represented by American depositary shares (“ADSs”), of Siliconware Precision Industries Co., Ltd. (“SPIL”) at a price of NT$55 per common share and NT$275 per ADS, respectively. ASE plans to acquire an estimated maximum number of 770,000,000 common shares of SPIL (including common shares represented by ADSs), equivalent to approximately 24.71% of the issued and outstanding common shares of SPIL.

 

The ROC Offer will commence at 9:00 a.m., Taiwan time, on December 29, 2015 and expire at 3:30 p.m., Taiwan time, on February 16, 2016. The U.S. Offer will commence at 12:00 a.m., New York City time, on December 29, 2015 and expire at 1:30 a.m., New York City time, on February 16, 2016.

 

On October 1, 2015, ASE acquired 24.99% equity interest in SPIL through tender offers for a consideration of NT$35.2 billion to establish the basis and opportunity for exploration of possible avenues of cooperation between the two companies. However, after ASE acquired its 24.99% equity interest in SPIL, SPIL’s management has acted with animosity towards ASE and continuously disregarded ASE’s proposals to engage in discussions on potential cooperation, and has taken various actions that are ill-advised from a corporate governance perspective. For example, SPIL commenced baseless litigation alleging that ASE does not have the right to be recorded in SPIL’s shareholder register for the shares ASE lawfully acquired and paid for on October 1, 2015; and on December 11, 2015, SPIL announced yet another defensive measure under which SPIL would issue a large number of new shares to a third party through private placement (the “Third Party Deal”), another highly dilutive transaction which brings no cash value to SPIL shareholders.

 

ASE believes that the Third Party Deal is not in the best interests of SPIL shareholders. In order to protect its investment in SPIL, ASE submitted a proposal to SPIL’s board of directors (the “SPIL Board”) on December 14, 2015 to acquire 100% of SPIL’s shares for NT$55 per common share in cash. However, ASE understands

 

 
 

 

that the SPIL Board has not responded by December 21, 2015. ASE believes that at its existing ownership level, it will continue to face similar defensive measures from SPIL thereby eliminating any realistic possibility of a cooperative dialogue between the parties, and that this inherently unstable situation will have an adverse effect on the interests of ASE’s and SPIL’s shareholders.

 

As a result, in order to protect ASE’s investment in SPIL, ASE plans to launch this Tender Offer for the purpose of increasing its shareholding in SPIL to approximately 49.71%. Furthermore, subject to the conditions that (1) SPIL shareholders, at the extraordinary general meeting to be held on January 28, 2016 (the “EGM”), do not approve the proposals required for the Third Party Deal (the “amendments to the Articles of Association proposal” and “the proposals to commence a private placement”) or (2) the SPIL Board terminates the Third Party Deal in accordance with its terms or applicable laws before January 28, 2016 and revokes its resolution for convening the EGM for the shareholders to vote on the “amendments to the Articles of Association proposal” and “the proposals to commence a private placement,” ASE intends to ultimately seek to acquire 100% of the common shares and ADSs of SPIL by seeking to discharge the SPIL Board at one or more shareholders’ meetings or await the expiration of the current Board’s term, and elect new nominees to the SPIL Board; if after such election, one half or more of the SPIL Board is composed of candidates nominated or designated by ASE, ASE intends to, in accordance with the Taiwan Mergers and Acquisitions Act, cause the SPIL Board to resolve in favor of a share exchange proposal (the “100% Acquisition”) between ASE and SPIL, pursuant to which ASE shall pay all SPIL’s shareholders a consideration of NT$55 per share (or NT$275 per ADS) and acquire 100% of the outstanding equity interest of SPIL not already owned by ASE. (Actual consideration will be subject to adjustment if SPIL issues shares or cash dividends and will also be adjusted in accordance with applicable laws, including Article 26 of the Principles on Acquisition and Disposition of Assets for Public Companies.) The consummation of the 100% Acquisition will require resolutions by ASE and SPIL in favor of a statutory share exchange under Taiwan law at their respective board and shareholders’ meetings, and be subject to receipt of all requisite competition, antitrust or other government approvals in Taiwan or other jurisdictions. Upon the completion of the 100% Acquisition, SPIL will become ASE’s direct and 100%-owned subsidiary.

 

After the completion of this Tender Offer, ASE reserves the right to increase or decrease its shares in SPIL, exercise its right as a SPIL shareholder, or take one or more actions to enforce and protect its interest in SPIL and/or to enhance its control in SPIL.

 

Important Additional Information

 

This release is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell SPIL’s securities.

 

In connection with the ROC Offer, ASE will file a tender offer document with the Republic of China Financial Supervisory Commission (the “FSC”).  Copies of the

 

 
 

 

Republic of China offer documents will also be available by contacting KGI Securities Co. Ltd. (“KGI”), the tender offer agent for the Taiwan offer, at +886-2-2389-2999 or at the website maintained by KGI at http://www.kgieworld.com.tw, or at the Market Observation Post System website at http://mops.twse.com.tw/mops/web/index.

 

In connection with the US Offer, a tender offer statement and related materials will be filed by ASE with the U.S. Securities and Exchange Commission (the “SEC”).  Investors and security holders will also be able to obtain a copy of these statements and other documents filed by ASE free of charge at the website maintained by the SEC at www.sec.gov. In addition, the tender offer statement, related materials will be available free of charge by contacting ASE’s information agent for the U.S. offer, MacKenzie Partners, Inc., toll-free at +1-(800) 322-2885 for U.S. or Canada or +1-212-929-5500 for other countries.

 

Investors and security holders are urged to carefully read the tender offer statements and any other documents relating to the Republic of China and U.S. offers filed by ASE with the SEC and FSC when they become available, as well as any amendments and supplements to those documents, because they will contain important information.

 

 

 

 

 

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