Philips announces internal transfer of TSMC shares
December 28, 2005, Amsterdam, the Netherlands - Royal Philips Electronics (NYSE: PHG, AEX: PHI) 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.
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world’s biggest electronics companies and Europe’s largest, with sales of EUR 30.3 billion in 2004. With activities in the three interlocking domains of healthcare, lifestyle and technology and 161,100 employees in more than 60 countries, it has market leadership positions in medical diagnostic imaging and patient monitoring, color television sets, electric shavers, lighting and silicon system solutions. News from Philips is located at www.philips.com/newscenter
This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
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- Gerd Götz
- Philips Corporate Communications
- Royal Philips Electronics
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