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Electronics Production | December 29, 2005

Philips announces internal transfer of TSMC shares

Royal Philips Electronics announced today that it has acquired from its fully owned subsidiary Philips Electronics Industries (Taiwan) Ltd (PEI) approximately 1,928 million shares of Taiwan Semiconductor Manufacturing Company Ltd (TSMC).
As a result PEI will no longer hold shares in TSMC and Philips is the sole holder of shares in TSMC held within the Philips Group.

This transaction advanced the payment of approximately EUR 240 million tax which otherwise would have been due at the moment the shares would be sold to a third party. The transaction will facilitate any future disposals by Philips. In the last offering of TSMC Philips agreed to a lock-up until December 31, 2006.

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