ChipMOS TO REPURCHASE 12.2% OWNERSHIP FROM ThaiLin

PR Newswire

HSINCHU, Nov. 21, 2013

HSINCHU, Nov. 21, 2013 /PRNewswire-FirstCall/ --ChipMOS TECHNOLOGIES
(Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS), an industry
leading provider of outsourced semiconductor assembly and test services, today
announced that its Board of Directors has approved the repurchase of 12.2%
ownership position in ChipMOS from the Company's subsidiary, ThaiLin
Semiconductor Corporation ("ThaiLin"). Following the Board's approval, a
Share Purchase Agreement was executed by ChipMOS and ThaiLin for the Company's
repurchase of the 4.1 million shares held by ThaiLin.

(Photo: )

The repurchase of the shares is expected to be consummated at two closings
(the "Closings"). The repurchase of a portion of the shares (2,000,000
shares) is expected to take place on or around November 26, 2013 (the "First
Closing Date"). The second closing for the remaining shares (2,093,705
shares) is expected to take place on or before January 31, 2014 (the "Second
Closing Date").

The purchase price of the shares at each of the Closings will be determined by
the arithmetic mean of the closing prices of the Company's Common Stock traded
on the NASDAQ over the twenty (20) consecutive trading days prior to the
preceding fifth day of each of the First Closing Date and the Second Closing
Date multiplied by zero point nine three (0.93), reflecting a seven percent
(7%) discount. Each of the Closings will be subject to the purchase price of
the shares falling within a range of US$13.00 per share to US$19.92 per share.

The Company's outstanding share count is expected to remain approximately 30
million after the consummation of the Closings because the 4.1 million shares
held by ThaiLin subject to the sale and repurchase have been treated as
treasury shares and not included in the Company's share count.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "This is
another significant step forward for us in our efforts to streamline our
corporate structure. The benefits of our successful business execution and
strategic planning are clearly seen in our strong financial results and
momentum. We continue to focus on both near and long-term initiatives to help
secure the Company's future and to help increase the valuation and return for

Furthermore, upon the advice of the Company's outside legal counsel, the Board
of Directors agreed to cancel the Company's existing US$7.5 million repurchase
program, which had been in place for the repurchase of the Company's publicly
traded common shares on the NASDAQ Stock Market. The Board intends to review
the Company's repurchase options related to common shares traded on the NASDAQ
Stock Market upon completion of both Closings.

About ChipMOS TECHNOLOGIES (Bermuda) LTD.:

ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (NASDAQ:
IMOS) ( is an industry leading provider of
semiconductor testing and assembly services. With advanced facilities in
Hsinchu and Southern Taiwan Science Parks in Taiwan and Shanghai, ChipMOS and
its subsidiaries provide testing and assembly services to a broad range of
customers, including leading fabless semiconductor companies, integrated
device manufacturers and independent semiconductor foundries. The Company's
majority-owned subsidiary, ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), is
listed on the Gre Tai Securities Market under Stock Ticker 8150.

Forward-Looking Statements

Certain statements contained in this announcement may be viewed as
"forward-looking statements" within the meaning of Section 27A of the U.S.
Securities Act of 1933, as amended, and Section 21E of the U.S. Securities
Exchange Act of 1934, as amended. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors, which may cause the
actual performance, financial condition or results of operations of the
Company to be materially different from any future performance, financial
condition or results of operations implied by such forward-looking statements.
Further information regarding these risks, uncertainties and other factors is
included in the Company's most recent Annual Report on Form 20-F filed with
the U.S. Securities and Exchange Commission (the "SEC") and in the Company's
other filings with the SEC.

                                    In the U.S.
In Taiwan
                                    David Pasquale
Dr. S.K. Chen
                                    Global IR Partners

Press spacebar to pause and continue. Press esc to stop.