HONG KONG, DONGGUAN, China and MILPITAS, Calif., Jan. 12 /PRNewswire-FirstCall/ -- ASAT Holdings Limited (Pink Sheets: ASTTY) (the "Company"), a global provider of semiconductor package design, assembly and test services, today announced that at a duly convened Extraordinary General Meeting of its shareholders held on January 12, 2010 the shareholders have passed the following as an ordinary resolution:
"THAT the sale of 1,035 shares of ASAT Limited, which constitutes the entire issued and fully paid up share capital of ASAT Limited (the "Sale Shares", as defined in the sale and purchase agreement entered into on 31 December 2009 between the Company, New ASAT (Finance) Limited and the Purchaser (as defined below) (the "SPA")) and all of the Company's right, title and interest to the inter-company receivables owing to the Company, as lender, by ASAT Limited, as borrower (the "ASAT Holdings Loan Receivables") to United Test and Assembly Center Ltd., a company incorporated under the laws of Singapore, or its nominee (the "Purchaser), upon and subject to the terms and conditions of the SPA, be and is hereby approved, and THAT this resolution shall (i) constitute consent of the Shareholders of the Company under and for the purposes of Clause 4.1(c) of the SPA and (ii) authorize the sale of substantially all of the assets of the Company under and for the purposes of Article 41 of the Articles of Association of the Company."
About ASAT Holdings Limited
ASAT Holdings Limited is a global provider of semiconductor package design, assembly and test services. With 20 years of experience, the Company offers a definitive selection of semiconductor packages and world-class manufacturing lines. ASAT's advanced package portfolio includes standard and high thermal performance ball grid arrays, leadless plastic chip carriers, thin array plastic packages, system-in-package and flip chip. ASAT was the first company to develop moisture sensitive level one capability on standard leaded products. Today, the Company has operations in the United States, Asia and Europe. For more information, visit www.asat.com.
SOURCE ASAT Holdings Limited