Exhibit 99.3
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
Supplementary Information for the Year Ended December 31, 2005
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
AND SUBSIDIARIES
AND SUBSIDIARIES
INDEX
Page Number | ||||
Report of the Directors | S-1 | |||
Statement by Directors | S-13 | |||
Report of Independent Registered Public Accounting Firm | S-14 | |||
Additional Information | A-1 to A-4 |
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
Directors’ Report
We are pleased to submit this annual report to the members of the Company together with the audited unconsolidated and consolidated financial statements for the year ended December 31, 2005.
Directors
The directors in office at the date of this report are as follows:-
James A. Norling | (Chairman) | |
Chia Song Hwee | (President and CEO) | |
Philip Tan Yuen Fah | (Chairman of Audit Committee) | |
Sum Soon Lim | ||
Robert Edmund La Blanc | ||
Andre Borrel | ||
Charles E Thompson | ||
Tsugio Makimoto | ||
Tay Siew Choon | ||
Peter Seah Lim Huat | ||
Pasquale Pistorio | (Appointed on May 31, 2005) | |
Steven Hugh Hamblin | (Appointed on January 1, 2006) |
Directors’ Interests
According to the register kept by the Company for the purposes of Section 164 of the Companies Act, Chapter 50 (the “Act”), particulars of interests of directors who held office at the end of the financial year (including those held by their spouses and infant children) in shares, debentures and shares options of the Company and in related corporations are as follows:
At beginning | ||||||||
of the year/ | ||||||||
date of | At end of | |||||||
appointment | the year | |||||||
The Company — Ordinary shares of S$0.26 each fully paid | ||||||||
James A. Norling | 36,000 | 36,000 | ||||||
Chia Song Hwee | 242,616 | 242,616 | ||||||
Sum Soon Lim | 408,618 | 408,618 | ||||||
Robert Edmund La Blanc | 90,254 | 65,254 | ||||||
Andre Borrel | 36,060 | 36,060 | ||||||
Charles E Thompson | 75,750 | 75,750 | ||||||
Tsugio Makimoto | 19,000 | 19,000 | ||||||
Pasquale Pistorio | 250,000 | 250,000 |
S-1
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
Directors’ Interests (cont’d)
At beginning | ||||||||||||||||
of the year/ | ||||||||||||||||
date of | At end of | Exercise | Exercise | |||||||||||||
appointment | the year | price | period | |||||||||||||
S$ | ||||||||||||||||
The Company — Options to subscribe for ordinary shares of S$0.26 each | ||||||||||||||||
James A. Norling | 58,609 | 58,609 | 4.05 | 28/03/2002 to 28/03/2006 | ||||||||||||
58,609 | 58,609 | 4.26 | 15/08/2002 to 15/08/2006 | |||||||||||||
58,609 | 58,609 | 3.46 | 22/02/2003 to 22/02/2007 | |||||||||||||
1,172,195 | 1,172,195 | 3.88 | 01/05/2002 to 01/05/2012 | |||||||||||||
58,609 | 58,609 | 1.86 | 30/08/2003 to 30/08/2007 | |||||||||||||
50,000 | 50,000 | 0.72 | 28/02/2004 to 28/02/2008 | |||||||||||||
60,000 | 60,000 | 1.10 | 29/08/2004 to 29/08/2008 | |||||||||||||
110,000 | 110,000 | 1.70 | 27/02/2005 to 27/02/2009 | |||||||||||||
— | 110,000 | 1.16 | 26/08/2006 to 26/08/2010 | |||||||||||||
Chia Song Hwee | 10,467 | 10,467 | 1.18 | 28/10/1997 to 28/10/2006 | ||||||||||||
20,935 | 20,935 | 1.00 | 28/11/1998 to 28/11/2007 | |||||||||||||
61,704 | 61,704 | 0.80 | 30/11/1998 to 29/11/2008 | |||||||||||||
26,444 | 26,444 | 0.80 | 30/04/1999 to 29/04/2009 | |||||||||||||
234,439 | 234,439 | 2.86 | 29/10/1999 to 29/10/2009 | |||||||||||||
70,331 | 70,331 | 2.86 | 29/04/2000 to 29/10/2009 | |||||||||||||
410,268 | 410,268 | 14.24 | 06/04/2001 to 06/04/2010 | |||||||||||||
527,487 | 527,487 | 10.12 | 03/10/2001 to 03/10/2010 | |||||||||||||
263,743 | 263,743 | 4.05 | 28/03/2002 to 28/03/2011 | |||||||||||||
263,743 | 263,743 | 4.26 | 15/08/2002 to 15/08/2011 | |||||||||||||
234,439 | 234,439 | 3.46 | 22/02/2003 to 22/02/2012 | |||||||||||||
2,344,391 | 2,344,391 | 1.86 | 30/08/2003 to 30/08/2012 | |||||||||||||
300,000 | 300,000 | 0.72 | 28/02/2004 to 28/02/2013 | |||||||||||||
700,000 | 700,000 | 1.10 | 29/08/2004 to 29/08/2013 | |||||||||||||
1,000,000 | 1,000,000 | 1.70 | 27/02/2005 to 27/02/2014 | |||||||||||||
220,000 | 220,000 | 1.02 | 30/07/2004 to 30/07/2014 | |||||||||||||
— | 1,000,000 | 1.16 | 26/08/2006 to 26/08/2015 | |||||||||||||
Sum Soon Lim | 93,775 | Options expired | 14.24 | 06/04/2001 to 06/04/2005 | ||||||||||||
93,775 | Options expired | 10.12 | 03/10/2001 to 03/10/2005 | |||||||||||||
46,887 | 46,887 | 4.05 | 28/03/2002 to 28/03/2006 | |||||||||||||
46,887 | 46,887 | 4.26 | 15/08/2002 to 15/08/2006 | |||||||||||||
46,887 | 46,887 | 3.46 | 22/02/2003 to 22/02/2007 | |||||||||||||
46,887 | 46,887 | 1.86 | 30/08/2003 to 30/08/2007 | |||||||||||||
25,000 | 25,000 | 0.72 | 28/02/2004 to 28/02/2008 | |||||||||||||
35,000 | 35,000 | 1.10 | 29/08/2004 to 29/08/2008 | |||||||||||||
60,000 | 60,000 | 1.70 | 27/02/2005 to 27/02/2009 | |||||||||||||
— | 60,000 | 1.16 | 26/08/2006 to 26/08/2010 |
S-2
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
Directors’ Interests (cont’d)
At beginning | ||||||||||||||||
of the year/ | ||||||||||||||||
date of | At end of | Exercise | Exercise | |||||||||||||
appointment | the year | price | period | |||||||||||||
S$ | ||||||||||||||||
The Company — Options to subscribe for ordinary shares of S$0.26 each | ||||||||||||||||
Robert Edmund La Blanc | 23,443 | Options expired | 14.24 | 06/04/2001 to 06/04/2005 | ||||||||||||
` | 58,609 | Options expired | 10.12 | 03/10/2001 to 03/10/2005 | ||||||||||||
29,304 | 29,304 | 4.05 | 28/03/2002 to 28/03/2006 | |||||||||||||
29,304 | 29,304 | 4.26 | 15/08/2002 to 15/08/2006 | |||||||||||||
29,304 | 29,304 | 3.46 | 22/02/2003 to 22/02/2007 | |||||||||||||
29,304 | 29,304 | 1.86 | 30/08/2003 to 30/08/2007 | |||||||||||||
25,000 | 25,000 | 0.72 | 28/02/2004 to 28/02/2008 | |||||||||||||
35,000 | 35,000 | 1.10 | 29/08/2004 to 29/08/2008 | |||||||||||||
60,000 | 60,000 | 1.70 | 27/02/2005 to 27/02/2009 | |||||||||||||
— | 60,000 | 1.16 | 26/08/2006 to 26/08/2010 | |||||||||||||
Andre Borrel | 93,775 | Options expired | 14.24 | 06/04/2001 to 06/04/2005 | ||||||||||||
93,775 | Options expired | 10.12 | 03/10/2001 to 03/10/2005 | |||||||||||||
46,887 | 46,887 | 4.05 | 28/03/2002 to 28/03/2006 | |||||||||||||
46,887 | 46,887 | 4.26 | 15/08/2002 to 15/08/2006 | |||||||||||||
46,887 | 46,887 | 3.46 | 22/02/2003 to 22/02/2007 | |||||||||||||
46,887 | 46,887 | 1.86 | 30/08/2003 to 30/08/2007 | |||||||||||||
40,000 | 40,000 | 0.72 | 28/02/2004 to 28/02/2008 | |||||||||||||
45,000 | 45,000 | 1.10 | 29/08/2004 to 29/08/2008 | |||||||||||||
85,000 | 85,000 | 1.70 | 27/02/2005 to 27/02/2009 | |||||||||||||
— | 60,000 | 1.16 | 26/08/2006 to 26/08/2010 | |||||||||||||
Charles E Thompson | 58,609 | Options expired | 14.24 | 06/04/2001 to 06/04/2005 | ||||||||||||
58,609 | Options expired | 10.12 | 03/10/2001 to 03/10/2005 | |||||||||||||
29,304 | 29,304 | 4.05 | 28/03/2002 to 28/03/2006 | |||||||||||||
29,304 | 29,304 | 4.26 | 15/08/2002 to 15/08/2006 | |||||||||||||
29,304 | 29,304 | 3.46 | 22/02/2003 to 22/02/2007 | |||||||||||||
29,304 | 29,304 | 1.86 | 30/08/2003 to 30/08/2007 | |||||||||||||
25,000 | 25,000 | 0.72 | 28/02/2004 to 28/02/2008 | |||||||||||||
35,000 | 35,000 | 1.10 | 29/08/2004 to 29/08/2008 | |||||||||||||
60,000 | 60,000 | 1.70 | 27/02/2005 to 27/02/2009 | |||||||||||||
— | 60,000 | 1.16 | 26/08/2006 to 26/08/2010 | |||||||||||||
Tsugio Makimoto | 11,721 | Options expired | 14.24 | 06/04/2001 to 06/04/2005 | ||||||||||||
58,609 | Options expired | 10.12 | 03/10/2001 to 03/10/2005 | |||||||||||||
29,304 | 29,304 | 4.05 | 28/03/2002 to 28/03/2006 | |||||||||||||
29,304 | 29,304 | 4.26 | 15/08/2002 to 15/08/2006 | |||||||||||||
29,304 | 29,304 | 3.46 | 22/02/2003 to 22/02/2007 | |||||||||||||
29,304 | 29,304 | 1.86 | 30/08/2003 to 30/08/2007 | |||||||||||||
25,000 | 25,000 | 0.72 | 28/02/2004 to 28/02/2008 | |||||||||||||
35,000 | 35,000 | 1.10 | 29/08/2004 to 29/08/2008 | |||||||||||||
60,000 | 60,000 | 1.70 | 27/02/2005 to 27/02/2009 | |||||||||||||
— | 60,000 | 1.16 | 26/08/2006 to 26/08/2010 |
S-3
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
Directors’ Interests (cont’d)
At beginning | ||||||||||||||||
of the year/ | ||||||||||||||||
date of | At end of | Exercise | Exercise | |||||||||||||
appointment | the year | price | period | |||||||||||||
S$ | ||||||||||||||||
The Company — Options to subscribe for ordinary shares of S$0.26 each | ||||||||||||||||
Peter Seah Lim Huat | 23,443 | 23,443 | 3.46 | 22/02/2003 to 22/02/2007 | ||||||||||||
46,887 | 46,887 | 1.86 | 30/08/2003 to 30/08/2007 | |||||||||||||
40,000 | 40,000 | 0.72 | 28/02/2004 to 28/02/2008 | |||||||||||||
45,000 | 45,000 | 1.10 | 29/08/2004 to 29/08/2008 | |||||||||||||
85,000 | 85,000 | 1.70 | 27/02/2005 to 27/02/2009 | |||||||||||||
— | 85,000 | 1.16 | 26/08/2006 to 26/08/2010 | |||||||||||||
Tay Siew Choon | 23,443 | 23,443 | 4.26 | 15/08/2002 to 15/08/2006 | ||||||||||||
29,304 | 29,304 | 3.46 | 22/02/2003 to 22/02/2007 | |||||||||||||
234,439 | 234,439 | 3.88 | 01/05/2002 to 01/05/2007 | |||||||||||||
46,887 | 46,887 | 1.86 | 30/08/2003 to 30/08/2007 | |||||||||||||
25,000 | 25,000 | 0.72 | 28/02/2004 to 28/02/2008 | |||||||||||||
35,000 | 35,000 | 1.10 | 29/08/2004 to 29/08/2008 | |||||||||||||
60,000 | 60,000 | 1.70 | 27/02/2005 to 27/02/2009 | |||||||||||||
— | 60,000 | 1.16 | 26/08/2006 to 26/08/2010 | |||||||||||||
Philip Tan Yuen Fah | 85,000 | 85,000 | 1.70 | 27/02/2005 to 27/02/2009 | ||||||||||||
— | 85,000 | 1.16 | 26/08/2006 to 26/08/2010 | |||||||||||||
Pasquale Pistorio | — | 60,000 | 1.16 | 26/08/2006 to 26/08/2010 |
Related Corporations
At beginning | ||||||||
of the year/ | ||||||||
date of appointment | At end of the year | |||||||
Global Crossing Limited — Restricted stock units of common stock of US$0.01 each (vesting period from 08/03/2005 to 08/03/2009) | ||||||||
Peter Seah Lim Huat | 7,500 | 7,500 |
At beginning | ||||||||||||||||
of the year/ | ||||||||||||||||
date of | At end of | Exercise | Exercise | |||||||||||||
appointment | the year | price | period | |||||||||||||
S$ | ||||||||||||||||
Global Crossing Limited — Options to subscribe for common shares of US$0.01 each pursuant to STT Communication Share Option Plan 2004 | ||||||||||||||||
Peter Seah Lim Huat | 40,000 | 40,000 | US$10.16 | 12/01/2005 to 12/01/2014 | ||||||||||||
Sum Soon Lim | 11,000 | 11,000 | US$10.16 | 12/01/2005 to 12/01/2014 | ||||||||||||
Tay Siew Choon | 11,000 | 11,000 | US$10.16 | 12/01/2005 to 12/01/2014 |
S-4
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
Directors’ Interests (cont’d)
Related Corporations (cont’d)
At beginning | ||||||||||||||||
of the year/ | At end of | Exercise | Exercise | |||||||||||||
date of appointment | the year | price | period | |||||||||||||
S$ | ||||||||||||||||
Green Dot Internet Services Pte Ltd — Options to subscribe for ordinary shares of S$1.00 each | ||||||||||||||||
Tay Siew Choon | 16,627 | 16,627 | 1.00 | 12/03/2003 to 11/03/2013 | ||||||||||||
10,466 | 10,466 | 1.00 | 01/04/2004 to 31/03/2014 | |||||||||||||
— | 11,681 | 1.00 | 01/04/2005 to 31/03/2015 |
At beginning | ||||||||||||||||
of the year/ | At end of | Exercise | Exercise | |||||||||||||
date of appointment | the year | price | period | |||||||||||||
Rp | ||||||||||||||||
PT Indonesian Satellite Corporation Tbk (“Indosat”) — Options to subscribe for Series B common shares of Rp 100 each | ||||||||||||||||
Sum Soon Lim | 135,000 | — | 1,567.44 | 01/08/2004 to 31/07/2005 | ||||||||||||
135,000 | 135,000 | 3,702.60 | 01/08/2005 to 31/07/2006 | |||||||||||||
Peter Seah Lim Huat | 150,000 | — | 1,567.44 | 01/08/2004 to 31/07/2005 | ||||||||||||
150,000 | 150,000 | 3,702.60 | 01/08/2005 to 31/07/2006 |
At beginning | ||||||||
of the year/ | ||||||||
date of | At end of | |||||||
appointment | the year | |||||||
Singapore Computer Systems Limited — Ordinary shares of S$0.25 each fully paid | ||||||||
Tay Siew Choon | 971,000 | 971,000 | ||||||
Tay Siew Choon# | 200,000 | — |
At beginning | ||||||||||||||||
of the year/ | At end of | Exercise | Exercise | |||||||||||||
date of appointment | the year | price | period | |||||||||||||
S$ | ||||||||||||||||
Singapore Computer Systems Limited — Options to subscribe for ordinary shares of S$0.25 each | ||||||||||||||||
Tay Siew Choon### | 80,000 | — | 2.20 | 19/10/2001 to 18/10/2005 | ||||||||||||
100,000 | — | 2.08 | 15/03/2002 to 14/03/2006 | |||||||||||||
75,000 | — | 1.55 | 08/03/2003 to 07/03/2007 | |||||||||||||
75,000 | — | 0.86 | 22/02/2004 to 21/02/2008 | |||||||||||||
75,000 | — | 0.84 | 30/04/2005 to 29/04/2009 |
S-5
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
Directors’ Interests (cont’d)
Related Corporations (cont’d)
At beginning | ||||||||
of the year/ | ||||||||
date of | At end of | |||||||
appointment | the year | |||||||
Singapore Telecommunications Ltd — Ordinary shares of S$0.15 each fully paid | ||||||||
Chia Song Hwee | 1,690 | 1,690 | ||||||
Sum Soon Lim | 3,259 | 3,259 | ||||||
Peter Seah Lim Huat | 3,176 | 3,176 | ||||||
Tay Siew Choon | 2,990 | 2,990 | ||||||
Philip Tan Yuen Fah | 3,370 | 3,370 | ||||||
Singapore Technologies Engineering Ltd — Ordinary shares of S$0.10 each fully paid | ||||||||
Philip Tan Yuen Fah | 25,686 | 25,686 |
At beginning | ||||||||||||||||
of the year/ | ||||||||||||||||
date of | At end of | Exercise | Exercise | |||||||||||||
appointment | the year | price | period | |||||||||||||
S$ | ||||||||||||||||
Singapore Technologies Engineering Ltd — Options to subscribe for ordinary shares of S$0.10 each | ||||||||||||||||
Sum Soon Lim | 25,000 | 25,000 | 2.72 | 20/02/2002 to 19/02/2006 | ||||||||||||
19,000 | 19,000 | 2.29 | 08/02/2003 to 07/02/2007 | |||||||||||||
Peter Seah Lim Huat | 89,000 | 89,000 | 1.92 | 13/08/2003 to 12/08/2007 | ||||||||||||
44,500 | 44,500 | 1.79 | 07/02/2004 to 06/02/2008 | |||||||||||||
40,500 | 40,500 | 1.86 | 12/08/2004 to 11/08/2008 | |||||||||||||
44,500 | 44,500 | 2.09 | 10/02/2005 to 09/02/2009 | |||||||||||||
44,500 | 44,500 | 2.12 | 11/08/2005 to 10/08/2009 | |||||||||||||
— | 44,500 | 2.37 | 08/02/2006 to 07/02/2010 | |||||||||||||
— | 44,500 | 2.57 | 11/08/2006 to 10/08/2010 | |||||||||||||
Philip Tan Yuen Fah | 95,000 | 95,000 | 2.72 | 20/02/2002 to 19/02/2006 | ||||||||||||
55,000 | 55,000 | 2.29 | 08/02/2003 to 07/02/2007 | |||||||||||||
27,500 | 27,500 | 1.79 | 07/02/2004 to 06/02/2008 | |||||||||||||
27,500 | 27,500 | 1.86 | 12/08/2004 to 11/08/2008 |
At beginning | ||||||||
of the year/ | ||||||||
date of | At end of | |||||||
appointment | the year | |||||||
SembCorp Industries Ltd — Ordinary shares of S$0.25 each fully paid | ||||||||
Peter Seah Lim Huat | — | 140,000 | ||||||
Tay Siew Choon | 54,598 | 51,322 |
S-6
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
Directors’ Interests (cont’d)
Related Corporations (cont’d)
At beginning | ||||||||||||||||
of the year/ | ||||||||||||||||
date of | At end of | Exercise | Exercise | |||||||||||||
appointment | the year | price | period | |||||||||||||
S$ | ||||||||||||||||
SembCorp Industries Ltd — Options to subscribe for ordinary shares of S$0.25 each | ||||||||||||||||
Tay Siew Choon | 500,000 | 500,000 | ##2.21 | 20/05/2001 to 19/05/2009 | ||||||||||||
500,000 | 125,000 | ##1.94 | 27/06/2001 to 26/06/2010 | |||||||||||||
50,000 | — | ##1.50 | 20/04/2002 to 19/04/2006 | |||||||||||||
25,000 | 6,250 | ##1.54 | 08/05/2003 to 07/05/2007 | |||||||||||||
25,000 | 12,500 | ##0.93 | 18/10/2003 to 17/10/2007 | |||||||||||||
25,000 | 12,500 | ##1.09 | 03/06/2004 to 02/06/2008 | |||||||||||||
25,000 | 18,750 | ##1.24 | 19/11/2004 to 18/11/2008 | |||||||||||||
Peter Seah Lim Huat | 140,000 | — | ##1.94 | 27/06/2001 to 26/06/2005 | ||||||||||||
140,000 | 140,000 | ##1.50 | 20/04/2002 to 19/04/2006 | |||||||||||||
70,000 | 70,000 | ##1.54 | 08/05/2003 to 07/05/2007 | |||||||||||||
70,000 | 70,000 | ##0.93 | 18/10/2003 to 17/10/2007 | |||||||||||||
70,000 | 70,000 | ##1.09 | 03/06/2004 to 02/06/2008 | |||||||||||||
70,000 | 70,000 | ##1.24 | 19/11/2004 to 18/11/2008 | |||||||||||||
70,000 | 70,000 | ##1.30 | 18/05/2005 to 17/05/2009 | |||||||||||||
70,000 | 70,000 | ##1.47 | 23/11/2005 to 22/11/2009 | |||||||||||||
— | 70,000 | 2.68 | 02/07/2006 to 01/07/2010 | |||||||||||||
— | 70,000 | 2.67 | 22/11/2006 to 21/11/2010 | |||||||||||||
SNP Corporation Ltd — Options to subscribe for ordinary shares of S$0.50 each | ||||||||||||||||
Tay Siew Choon | 20,000 | 20,000 | 0.50 | 23/04/2002 to 22/04/2011 | ||||||||||||
50,000 | 50,000 | 0.69 | 17/04/2003 to 16/04/2007 | |||||||||||||
50,000 | 50,000 | 0.59 | 15/04/2004 to 14/04/2008 | |||||||||||||
70,000 | 70,000 | 1.19 | 21/04/2005 to 20/04/2009 | |||||||||||||
— | 77,000 | 0.90 | 19/04/2006 to 18/04/2010 | |||||||||||||
STT Communications Ltd — Options to subscribe for ordinary shares of S$0.50 each | ||||||||||||||||
Sum Soon Lim | 300,000 | — | 1.42 | 19/09/2001 to 18/09/2005 | ||||||||||||
35,000 | — | 0.92 | 28/04/2002 to 27/04/2006 | |||||||||||||
70,000 | 17,500 | 0.50 | 24/11/2002 to 23/11/2006 | |||||||||||||
200,000 | 50,000 | 0.50 | 29/06/2003 to 28/06/2007 | |||||||||||||
200,000 | 100,000 | 0.57 | 30/07/2004 to 29/07/2008 | |||||||||||||
300,000 | 225,000 | 1.08 | 29/07/2005 to 28/07/2009 | |||||||||||||
Peter Seah Lim Huat | 8,000 | 2,000 | 0.50 | 29/06/2003 to 28/06/2012 | ||||||||||||
39,000 | 19,500 | 0.57 | 30/07/2004 to 29/07/2013 | |||||||||||||
130,000 | 130,000 | 1.08 | 29/07/2005 to 28/07/2014 |
S-7
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
Directors’ Interests (cont’d)
Related Corporations (cont’d)
At beginning | ||||||||||||||||
of the year/ | ||||||||||||||||
date of | At end of | Exercise | Exercise | |||||||||||||
appointment | the year | price | period | |||||||||||||
S$ | ||||||||||||||||
STT Communications Ltd — Options to subscribe for ordinary shares of S$0.50 each (cont’d) | ||||||||||||||||
Tay Siew Choon | 100,000 | — | 1.42 | 19/09/2001 to 18/09/2010 | ||||||||||||
15,000 | — | 0.92 | 28/04/2002 to 27/04/2011 | |||||||||||||
30,000 | 7,500 | 0.50 | 24/11/2002 to 23/11/2011 | |||||||||||||
80,000 | 20,000 | 0.50 | 29/06/2003 to 28/06/2012 | |||||||||||||
100,000 | 50,000 | 0.57 | 30/07/2004 to 29/07/2013 | |||||||||||||
200,000 | 150,000 | 1.08 | 29/07/2005 to 28/07/2014 |
At beginning | ||||||||
of the year/ | ||||||||
date of | At end of | |||||||
appointment | the year | |||||||
Singapore Food Industries Limited — Ordinary shares of S$0.05 each fully paid | ||||||||
Tay Siew Choon | 813,000 | 863,000 | ||||||
Philip Tan Yuen Fah | 40,000 | 140,000 |
At beginning | ||||||||||||||||
of the year/ | ||||||||||||||||
date of | At end of | Exercise | Exercise | |||||||||||||
appointment | the year | price | period | |||||||||||||
S$ | ||||||||||||||||
Singapore Food Industries Limited — Options to subscribe for ordinary shares of S$0.05 each | ||||||||||||||||
Tay Siew Choon | 50,000 | — | 0.55 | 24/08/2002 to 23/08/2005 | ||||||||||||
Philip Tan Yuen Fah | 100,000 | — | 0.55 | 24/08/2001 to 23/08/2005 | ||||||||||||
70,000 | 70,000 | 0.69 | 28/07/2002 to 27/07/2006 | |||||||||||||
70,000 | 70,000 | 0.78 | 09/08/2003 to 08/08/2007 | |||||||||||||
70,000 | 70,000 | 0.76 | 05/08/2004 to 04/08/2008 | |||||||||||||
70,000 | 70,000 | 0.80 | 10/06/2005 to 09/06/2009 | |||||||||||||
— | 70,000 | 0.99 | 13/06/2006 to 12/06/2010 |
At beginning | ||||||||
of the year/ | ||||||||
date of | At end of | |||||||
appointment | the year | |||||||
SMRT Corporation Ltd — Ordinary shares of S$0.10 each fully paid | ||||||||
Tay Siew Choon+ | 30,000 | 30,000 |
S-8
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
Directors’ Interests (cont’d)
Related Corporations (cont’d)
At beginning | ||||||||
of the year/ | ||||||||
date of | At end of | |||||||
appointment | the year | |||||||
SP AusNet — Stapled units fully paid (Company was listed on the Australian Stock Exchange on December 14, 2005) | ||||||||
Sum Soon Lim | — | 300,000 | ||||||
StarHub Ltd — Ordinary shares of $0.40 each fully paid | ||||||||
Sum Soon Lim | 20,000 | 20,000 | ||||||
Peter Seah Lim Huat | 60,000 | 60,000 |
At beginning | ||||||||||||||||
of the year/ | ||||||||||||||||
date of | At end of | Exercise | Exercise | |||||||||||||
appointment | the year | price | period | |||||||||||||
S$ | ||||||||||||||||
StarHub Ltd — Options to subscribe for ordinary shares of S$0.40 each | ||||||||||||||||
Peter Seah Lim Huat | 37,500 | 37,500 | 0.880 | 30/11/2003 to 29/11/2007 | ||||||||||||
18,750 | 18,750 | 0.880 | 31/05/2004 to 30/05/2008 | |||||||||||||
18,750 | 18,750 | 0.880 | 29/11/2004 to 28/11/2008 | |||||||||||||
18,750 | 18,750 | 0.960 | 03/04/2005 to 02/04/2009 | |||||||||||||
18,750 | 18,750 | 0.985 | 27/11/2005 to 26/11/2009 | |||||||||||||
— | 25,500 | 1.520 | 31/05/2006 to 30/05/2010 |
At beginning | ||||||||
of the year/ | ||||||||
date of | At end of | |||||||
appointment | the year | |||||||
Telechoice International Limited — Ordinary shares of S$0.02 each fully paid | ||||||||
Sum Soon Lim | 60,000 | 60,000 | ||||||
Peter Seah Lim Huat | 50,000 | 50,000 | ||||||
Tay Siew Choon | 60,000 | 60,000 |
S-9
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
Directors’ Interests (cont’d)
Related Corporations (cont’d)
At beginning | ||||||||
of the year/ | ||||||||
date of | At end of | |||||||
appointment | the year | |||||||
Vertex Investment (II) Ltd — Ordinary shares of US$1.00 each fully paid | ||||||||
Tay Siew Choon* | 2 | 2 | ||||||
Vertex Technology Fund Ltd — Ordinary shares of US$1.00 each fully paid | ||||||||
Sum Soon Lim | 300 | 300 | ||||||
Tay Siew Choon++ | 20 | 20 | ||||||
Vertex Technology Fund (II) Ltd — Ordinary shares of US$1.00 each fully paid | ||||||||
Sum Soon Lim | 500 | 500 | ||||||
Tay Siew Choon+++ | 500 | 500 | ||||||
Vertex Technology Fund (II) Ltd — Redeemable Preference Shares of US$0.01 each fully paid | ||||||||
Sum Soon Lim | 485 | 485 | ||||||
Tay Siew Choon+++ | 500 | 500 |
* | Held in the name of United Overseas Bank Trustee Limited | |
+ | Held in the name of DBS Nominees (Private) Limited | |
++ | Held in the name of HSBC Trustee (Singapore) Limited | |
+++ | Held in the name of DBS Vickers Securities Nominees (Singapore) Pte Ltd | |
# | Lapse of conditional award of balance of 200,000 ordinary shares of S$0.25 each in Singapore Computer Systems Limited under the Green Dot Capital Restricted Stock Plan on July 1, 2005 | |
## | Adjustment to exercise prices of share options for unexercised share options under the SembCorp Industries Ltd (“SCI” ) Share Option Plan pursuant to the capital reduction of SCI effected on May 27, 2005 | |
### | Lapse of total of 405,000 options to subscribe for ordinary shares of S$0.25 each in Singapore Computer Systems Limited on January 1, 2005 |
Directors’ Interests in Contracts
During the financial year, two of the directors of the Company received advisory fees from related companies in their capacity as Corporate Advisors to these companies for provision of strategic, organizational and corporate finance advisory services.
Except as disclosed in this report, since the end of the last financial year, no director has received or become entitled to receive a benefit by reason of a contract made by the Company or a related corporation with the director or with a firm of which he is a member or with a company in which he has a substantial financial interest.
S-10
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
Share Options
Details of options on unissued shares of the Company are set out below:-
Aggregate | ||||||||||||||||
Aggregate | Options | |||||||||||||||
options | exercised/ | Aggregate | ||||||||||||||
granted | lapsed since | options | ||||||||||||||
Options | since commencement | commencement | outstanding | |||||||||||||
granted | of Scheme to | of Scheme to | as at the | |||||||||||||
during the | the end of | the end of the | end of the | |||||||||||||
financial year | financial year | financial year | financial year | |||||||||||||
Name of participant | under review | under review | under review | under review | ||||||||||||
Directors of the Company | ||||||||||||||||
James A. Norling | 110,000 | 1,736,631 | — | 1,736,631 | ||||||||||||
Chia Song Hwee | 1,000,000 | 7,688,391 | — | 7,688,391 | ||||||||||||
Sum Soon Lim | 60,000 | 707,490 | 339,942 | 367,548 | ||||||||||||
Robert Edmund La Blanc | 60,000 | 444,580 | 147,364 | 297,216 | ||||||||||||
Andre Borrel | 60,000 | 687,488 | 269,940 | 417,548 | ||||||||||||
Charles E Thompson | 60,000 | 514,912 | 217,696 | 297,216 | ||||||||||||
Tsugio Makimoto | 60,000 | 367,546 | 70,330 | 297,216 | ||||||||||||
Tay Siew Choon | 60,000 | 514,073 | — | 514,073 | ||||||||||||
Peter Seah Lim Huat | 85,000 | 325,330 | — | 325,330 | ||||||||||||
Philip Tan Yuen Fah | 85,000 | 170,000 | — | 170,000 | ||||||||||||
Pasquale Pistorio | 60,000 | 60,000 | — | 60,000 |
Except as set out above and in the accompanying financial statements:
(i) | during the financial year, there were no options granted by the Company or its subsidiaries to any person to take up unissued shares in the Company or its subsidiaries; | |
(ii) | during the financial year, there were no shares issued by virtue of any exercise of option to take up unissued shares of the Company or its subsidiaries; and | |
(iii) | as at the end of the financial year, there were no unissued shares of the Company or its subsidiaries under option. |
None of the persons to whom options have been granted by the Company have any right to participate by virtue of the option in any share issue of any other company.
S-11
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
Audit Committee
The financial statements, accounting policies and system of internal accounting controls are the responsibility of the Board of Directors acting through the Audit Committee. The Committee met during the year to review the scope of work of the internal auditors and of the statutory auditors, and the results arising therefrom, including their evaluation of the system of internal controls. The Committee reviewed the independence of the statutory auditors, as well as the assistance given by the Company’s officers to the auditors. The announcements of results and the audited financial statements were reviewed by the Committee prior to their submission to the directors of the Company for adoption.
The Committee has recommended to the Board of Directors that the auditors, KPMG, be nominated for re-appointment as auditors at the forthcoming Annual General Meeting of the Company.
Auditors
The auditors, KPMG, have indicated their willingness to accept re-appointment.
On behalf of the Board of Directors
JAMES A. NORLING
Chairman
Chairman
CHIA SONG HWEE
President and CEO
President and CEO
Singapore
February 9, 2006
S-12
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
STATEMENT BY DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
STATEMENT BY DIRECTORS
FOR THE YEAR ENDED DECEMBER 31, 2005
In our opinion:
(a) | the US GAAP financial statements set out on pages F-2 to F-41, F-43 and F-44 are drawn up so as to give a true and fair view of the consolidated and unconsolidated state of affairs of the Company as at December 31, 2005 and of the consolidated results of the business and consolidated cash flows of the Company for the year ended on that date; and | |
(b) | at the date of this statement there are reasonable grounds to believe that the Company will be able to pay its debts as and when they fall due. |
The Board of Directors has authorized these financial statements for issue on the date of this statement.
On behalf of the Board of Directors
JAMES A. NORLING
Chairman
Chairman
CHIA SONG HWEE
President and CEO
President and CEO
Singapore
February 9, 2006
S-13
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Shareholders of Chartered Semiconductor Manufacturing Ltd:
We have audited the financial statements of Chartered Semiconductor Manufacturing Ltd and subsidiaries (the “Group”) as of December 31, 2005 and 2004, and for each of the years in the three-year period ended December 31, 2005, and have issued our report thereon dated March 1, 2006.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion:
(a) | the consolidated financial statements of the Group and the balance sheet of the Company are properly drawn up in accordance with the provisions of the Companies Act, Chapter 50 (the “Act”) to give a true and fair view of the state of affairs of the Group and of the Company as at December 31, 2005 and of the statements of operations, comprehensive income (loss), shareholders’ equity and cash flows of the Group for the year ended on that date; and | ||
(b) | the accounting and other records required by the Act to be kept by the Company and by those subsidiaries incorporated in Singapore of which we are the auditors have been properly kept in accordance with the provisions of the Act. |
KPMG
Certified Public Accountants
Certified Public Accountants
Singapore
March 1, 2006
S-14
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
Information on the employee share option plan are set out on page A-2.
Details of directors’ remuneration are set out on page A-3.
Statistics on the shareholders of the Company are set out on page A-4.
A-1
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
Employee Share Option Plan
Share Options Granted During the Year
Balance at | ||||||||||||||||||||||||||||
Date of | Date of | Balance at | Exercise | Exercise | Expire | |||||||||||||||||||||||
Grant | Grant | Lapsed | Exercise | 31/12/2005 | Period | Price | Date | |||||||||||||||||||||
S$ | ||||||||||||||||||||||||||||
24/03/2005 | 200,000 | — | — | 200,000 | 24/03/2006 to 24/03/2015 | 1.07 | 24/03/2015 | |||||||||||||||||||||
26/08/2005 | 1,106,000 | — | — | 1,106,000 | 26/08/2006 to 26/08/2010 | 1.16 | 26/08/2010 | |||||||||||||||||||||
26/08/2005 | 12,955,200 | 309,000 | — | 12,646,200 | 26/08/2006 to 26/08/2015 | 1.16 | 26/08/2015 | |||||||||||||||||||||
03/10/2005 | 1,000,000 | — | — | 1,000,000 | 03/10/2006 to 03/10/2015 | 1.16 | 03/10/2015 | |||||||||||||||||||||
26/10/2005 | 100,000 | — | — | 100,000 | 26/10/2006 to 26/10/2015 | 1.06 | 26/10/2015 | |||||||||||||||||||||
07/11/2005 | 60,000 | — | — | 60,000 | 07/11/2006 to 07/11/2015 | 1.10 | 07/11/2015 | |||||||||||||||||||||
08/11/2005 | 100,000 | — | — | 100,000 | 08/11/2006 to 08/11/2015 | 1.09 | 08/11/2015 | |||||||||||||||||||||
23/11/2005 | 20,700 | — | — | 20,700 | 23/11/2006 to 23/11/2015 | 1.20 | 23/11/2015 | |||||||||||||||||||||
15,541,900 | 309,000 | — | 15,232,900 | |||||||||||||||||||||||||
Directors’ Remuneration
The remuneration of directors of the Company falls within the following ranges:-
Number of Directors | ||||||||
2004 | 2005 | |||||||
S$500,000^ and above | 1 | 1 | ||||||
S$250,000^ to S$499,999^ | — | — | ||||||
Below S$250,000^ | 10 | 11 | ^^ | |||||
11 | 12 | |||||||
^ | The Directors’ remuneration has been translated from United States dollar amounts to Singapore dollars as of December 31, 2005 at an exchange rate of S$1.6695 = US$1.00. | |
^^ | During 2005, one Director retired from the Board and one new Director was appointed to the Board. |
A-2
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
Summary compensation table for the year ended December 31, 2005
(in US$ thousands)
Options | ||||||||||||||||||||||||||||||||||
Directors' | Granted in | Exercise | Exercise | |||||||||||||||||||||||||||||||
Salary(1) | Bonus | Others(2) | Fees(3) | Total | 2005 | Price | Period | |||||||||||||||||||||||||||
James A. Norling | — | — | — | 87 | 87 | 110,000 | S$1.16 | 26/08/2006 to 26/08/2010 | ||||||||||||||||||||||||||
Lim Ming Seong(4) | — | — | — | 14 | 14 | — | — | — | ||||||||||||||||||||||||||
Chia Song Hwee | 406 | 194 | (5) | 35 | — | 635 | 1,000,000 | S$1.16 | 26/08/2006 to 26/08/2015 | |||||||||||||||||||||||||
Sum Soon Lim | — | — | — | 40 | 40 | 60,000 | S$1.16 | 26/08/2006 to 26/08/2010 | ||||||||||||||||||||||||||
Robert Edmund La Blanc | — | — | — | 50 | 50 | 60,000 | S$1.16 | 26/08/2006 to 26/08/2010 | ||||||||||||||||||||||||||
Andre Borrel | — | — | — | 56 | 56 | 60,000 | S$1.16 | 26/08/2006 to 26/08/2010 | ||||||||||||||||||||||||||
Charles E Thompson | — | — | — | 46 | 46 | 60,000 | S$1.16 | 26/08/2006 to 26/08/2010 | ||||||||||||||||||||||||||
Tsugio Makimoto | — | — | — | 40 | 40 | 60,000 | S$1.16 | 26/08/2006 to 26/08/2010 | ||||||||||||||||||||||||||
Tay Siew Choon | — | — | — | 34 | 34 | 60,000 | S$1.16 | 26/08/2006 to 26/08/2010 | ||||||||||||||||||||||||||
Peter Seah Lim Huat | — | — | — | 40 | 40 | 85,000 | S$1.16 | 26/08/2006 to 26/08/2010 | ||||||||||||||||||||||||||
Philip Tan Yuen Fah | — | — | — | 41 | 41 | 85,000 | S$1.16 | 26/08/2006 to 26/08/2010 | ||||||||||||||||||||||||||
Pasquale Pistorio(6) | — | — | — | 15 | 15 | 60,000 | S$1.16 | 26/08/2006 to 26/08/2010 | ||||||||||||||||||||||||||
Total as of December 31, 2005 | 406 | 194 | 35 | 463 | 1,098 | |||||||||||||||||||||||||||||
Total as of December 31, 2004 | 416 | — | 29 | 460 | 905 | |||||||||||||||||||||||||||||
(1) | Base salary (inclusive of employers’ Central Provident Fund, or CPF). | |
(2) | Allowances (inclusive of employers’ CPF) and others. | |
(3) | Shareholders’ approval will be sought at our annual general meeting to be held in April 2006 for the payment of our directors’ fees of approximately $462,334 for the fiscal year ended December 31, 2005. | |
(4) | Mr. Lim Ming Seong retired in April 2005. | |
(5) | Bonus to be paid in 2006, inclusive of employer CPF contribution and converted to US$ based on average buying rate on January 25, 2006 of S$1.6219 = $1.00. | |
(6) | Mr. Pasquale Pistorio was appointed a Director to our Board of Directors in May 2005. |
A-3
CHARTERED SEMICONDUCTOR MANUFACTURING LTD
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
Shareholding Statistics as of February 28, 2006
Twenty Largest Shareholders
% of Issued | |||||||||||||
No. | Name of Shareholder | No. of Shares | Share Capital | ||||||||||
1 | Singapore Technologies Semiconductors Pte Ltd | 1,295,324,883 | 51.53 | ||||||||||
2 | DBS Nominees Pte Ltd | 304,228,113 | 12.10 | ||||||||||
3 | Raffles Nominees Pte Ltd | 140,145,444 | 5.57 | ||||||||||
4 | HSBC (Singapore) Nominees Pte Ltd | 123,542,583 | 4.91 | ||||||||||
5 | Citibank Nominees Singapore Pte Ltd | 104,224,821 | 4.15 | ||||||||||
6 | United Overseas Bank Nominees Pte Ltd | 42,599,313 | 1.69 | ||||||||||
7 | Morgan Stanley Asia (Singapore) Pte Ltd | 21,566,269 | 0.86 | ||||||||||
8 | UOB Kay Hian Pte Ltd | 20,242,000 | 0.80 | ||||||||||
9 | OCBC Securities Private Ltd | 18,510,315 | 0.74 | ||||||||||
10 | OCBC Nominees Singapore Pte Ltd | 11,998,988 | 0.48 | ||||||||||
11 | Phillip Securities Pte Ltd | 8,307,708 | 0.33 | ||||||||||
12 | Merrill Lynch (Singapore) Pte Ltd | 6,758,985 | 0.27 | ||||||||||
13 | HL Bank Nominees (S) Pte Ltd | 4,994,000 | 0.20 | ||||||||||
14 | DB Nominees (S) Pte Ltd | 4,367,700 | 0.17 | ||||||||||
15 | Societe Generale Singapore Branch | 4,066,042 | 0.16 | ||||||||||
16 | Citibank Consumer Nominees Pte Ltd | 3,939,462 | 0.16 | ||||||||||
17 | Kim Eng Securities Pte. Ltd. | 3,861,086 | 0.15 | ||||||||||
18 | DBS Vickers Securities (Singapore) Pte Ltd | 3,202,011 | 0.13 | ||||||||||
19 | Lee Eng Thong David | 2,188,000 | 0.09 | ||||||||||
20 | Lim Eng Chiow | 2,154,000 | 0.09 | ||||||||||
GRAND TOTAL | 2,126,221,723 | 84.58 | |||||||||||
No. of | |||||||||||||||||
Size of Holding | Shareholders | % | No. of Shares | % | |||||||||||||
1 | - 999 | 910 | 2.02 | 273,955 | 0.01 | ||||||||||||
1,000 | - 10,000 | 36,515 | 81.21 | 138,001,401 | 5.49 | ||||||||||||
10,001 | - 1,000,000 | 7,511 | 16.70 | 233,473,167 | 9.29 | ||||||||||||
1,000,001 | and above | 30 | 0.07 | 2,141,979,928 | 85.21 | ||||||||||||
44,966 | 100.00 | 2,513,728,451 | 100.00 | ||||||||||||||
Beneficially Owned(2) | Deemed Interest(4) | |||||||||||||||
Shareholders Holding 5% or More | Number | Percentage | Number | Percentage | ||||||||||||
Temasek Holdings (Private) Limited(3) | 1,511,516,883 | 60.13 | % | 1,510,324,883 | 60.08 | % | ||||||||||
Singapore Technologies Semiconductors Pte Ltd | 1,510,324,883 | 60.08 | % |
Notes:
(1) | The number of ordinary shares listed in this table includes ordinary shares held in the form of ADSs. | |
(2) | Beneficial ownership is determined in accordance with the rules of the SEC and includes voting and investment power with respect to ordinary shares. Unless otherwise indicated, the persons named in the table have sole voting and sole investment control with respect to all ordinary shares beneficially owned. | |
(3) | The 1,511,516,883 ordinary shares beneficially owned by Temasek includes (a) the 1,295,324,883 ordinary shares held by ST Semiconductors; (b) the 215,000,000 ordinary shares subject to the terms of a securities lending agreement entered into by ST Semiconductors with a certain financial institution and (c) the 1,192,000 ordinary shares held by other companies within the Temasek Group. ST Semiconductors is a wholly-owned subsidiary of Temasek. Temasek may therefore be deemed to beneficially own the shares owned by ST Semiconductors, because it is the parent company of ST Semiconductors. | |
(4) | As defined pursuant to the provisions of the Companies Act, Chapter 50, Singapore. |
A-4