XEMICS Announces a 10 for 1 Stock Split, Stock Options for All Employees and a New Shareholder Structure.Business Editors & High Tech Writers NEUCHATEL, Switzerland--(BUSINESS WIRE)--Aug. 16, 2000 XEMICS SA, a leader in ultra low power An ultra low power, or ULP device, is an electronic gadget that has milli- or micro-watt power consumption. Some examples of ultra-low power devices:
Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. , announces a 10 for 1 stock split, a 10% stock option plan for all employees and a new shareholder structure, which completes the spin-off from its founding company, CSEM CSEM Centre Sismologique Euro-Méditerranéen (France) CSEM Centre Suisse d'Electronique et de Microtechnique (Switzerland) CSEM Case Studies in Environmental Medicine (ATSDR) SA. CSEM SA, from which XEMICS spin off in 1997, has sold all of its remaining XEMICS shares earlier this year to Innoventure Capital, a Zurich based venture capital fund. This follows CSEM's strategy of selling its participation in companies having achieved their critical business size and in reinvesting funds in new start-up and spin-off initiatives. "CSEM is extremely pleased with the development and progress of XEMICS over the past years as a customer-oriented global company. XEMICS successfully continues a 30 year tradition in this area of developing ultra low power integrated circuits," says Thomas Hinderling, CSEM's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We are looking forward to continuing our cooperation with XEMICS on advanced projects in low-power, mixed-signal semiconductor technology." Together with TAT Capital Partners (Switzerland) Banexi Ventures Partners (France) and Cantonal Bank Cantonal banks (German: Kantonalbank, French: Banque Cantonale, Italian: Banca Cantonale) are Swiss governmental-owned commercial banks, that use the canton that they are based in as guarantee for the assets held there. of Vaud (Switzerland), venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: now own approximately half of XEMICS shares. ROLEX, the Swiss watch manufacturer, and institutional investors also hold about half of XEMICS shares. The remaining shares are owned by XEMICS' senior management. "We have now achieved an optimal shareholder structure, balancing the interests of international growth, long-term financial stability and management commitment," says Michel Desbard, XEMICS' new chairman of the board. XEMICS earlier this year approved and implemented a 10% stock option plan for all of its employees. "Knowing that all employees will soon become shareholders has clearly sharpened the company's determination for success. It adds a new dimension by allowing all employees to actively participate in the company's development," says Roland Heer, XEMICS' CEO. "It will definitely help in recruiting and retaining future and current personnel, a key factor in future growth." XEMICS also announced today a 10 for 1 stock split to improve tradability of its shares and to achieve a share value typical for the semiconductor industry. About XEMICS XEMICS is a fabless semiconductor company A fabless semiconductor company specializes in the design and sale of hardware devices implemented on semiconductor chips. It achieves an advantage by outsourcing the fabrication of the devices to a specialized semiconductor manufacturer called a semiconductor foundry or "fab. focusing on ultra low-power, mixed-signal system-on-chip (SOC) solutions. Wafer manufacturing is subcontracted sub·con·tract n. A contract that assigns some of the obligations of a prior contract to another party. intr. & tr.v. sub·con·tract·ed, sub·con·tract·ing, sub·con·tracts to leading foundries. XEMICS offers "One Stop Shop" services to its customers, from design to product delivery. |
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