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CHARTERED CEO SETS STRUCTURED PLAN FOR PERSONAL ACQUISITION AND
LIMITED SALE OF COMPANY SHARES
Announcement of plan in line with Chartered's
tradition of openness and transparency; Net increase
in CEO's ownership expected to be approximately 25%
in 2001
SINGAPORE - July 31, 2001 - Chartered Semiconductor
Manufacturing (Nasdaq: CHRT and SGX-ST: Chartered),
one of the world's top three silicon foundries, today
announced that Barry Waite, president and CEO, has established
a structured program for 2001 that will both increase
his personal holdings in the company and provide diversification
of his personal portfolio.
Upon completion of the program at the end of 2001, Waite
will own directly approximately 1,887,000 ordinary shares
of Chartered - an increase of approximately 25 percent
over his personal stake of 1,510,040 shares at the end
of 2000.
Under the program, Waite will exercise options this
year totaling 1,692,000 ordinary shares. To help diversify
his personal holdings, he intends to sell 130,000 ADSs,
which are equivalent to 1,300,000 ordinary shares. Waite
has authorized a third-party representative to execute
the sales, on the Nasdaq open market, during two specific
time periods this year. To provide flexibility in implementing
the plan given this year's turbulent market conditions,
a minimum sale price of not lower than US$20 per ADS
has been established.
The first sale, which took place July 30, was for 60,000
ADSs. The second sale, which is expected to total 70,000
ADSs, is planned to take place in late November 2001.
Waite's sales plan, which was approved by Chartered's
board of directors in late June, is in accordance with
the requirements of Rule 10b5-1(c) of the US Securities
Exchange Act of 1934, as amended. While current SEC
regulations generally require only that company insiders
disclose sales of shares after the transactions, the
public disclosure of Waite's plan is being made in view
of Chartered's pro-active policy of openness and transparency.
About Chartered
Chartered Semiconductor Manufacturing is one of the
world's top three silicon foundries. The Company's business
model is distinguished by its strategy to build trusted
long-term relationships, where manufacturing is part
of a larger customer-service focus that includes joint
development and implementation of new process technologies
supporting novel applications within the broad communications
market. Chartered operates five semiconductor fabrication
facilities in Singapore and has a sixth fab in the process
of being developed as a 300mm facility.
A Company with both global presence and perspective,
Chartered is traded on both the Nasdaq Stock Market
in the United States (Nasdaq: CHRT) and on the Singapore
Exchange Securities Trading Limited in Singapore (SGX-ST:
CHARTERED). The Company reported 2000 revenues of over
US$1.1 billion. More than 4,300 Chartered employees
are based at 11 locations around the world. Information
about Chartered Semiconductor Manufacturing can be found
at www.charteredsemi.com
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