News

April 11, 2024, Integrated Micro-Electronics, Inc.’s subsidiary, VIA optronics AG (“VIA”), a leading supplier of interactive display solutions, announced on April 9, 2024 its intention to voluntarily delist its American Depository Shares (“ADSs”) from the New York Stock Exchange (“NYSE”), terminate its registration with the U.S. Securities and Exchange Commission (“US SEC”), and terminate its ADS program.

VIA notified the NYSE on April 9, 2024 of its intent to voluntarily delist its ADSs from the NYSE, pursuant to a resolution adopted by its Supervisory Board. VIA has also notified The Bank of New York Mellon (which acts as depositary under the ADS program) of the termination of the ADS program.

VIA believes that delisting and deregistration of the ADSs from the U.S. public markets will be more economical for the company, taking into account the low liquidity of its ADSs and the high costs of maintaining the NYSE listing and US SEC registration on an annual basis. VIA further believes that delisting and deregistration, and consequently the suspension of its US SEC reporting obligations, will allow the company to allocate resources more efficiently to execute its current business strategy by enabling its management and employees to focus more on managing its businesses and strengthening relationships with customers and business partners.

VIA currently anticipates that it will file with the US SEC a Form 25 relating to the delisting and deregistration of its ADSs on or around April 19, 2024. Unless the Form 25 is earlier withdrawn by VIA, the delisting of the ADSs will be effective 10 days after the filing of the Form 25.  Accordingly, VIA anticipates that the last day of trading of the ADSs on the NYSE will be on or about April 29, 2024.

Following the delisting of its ADSs from NYSE and after VIAhas made all necessary US SEC filings and is otherwise able to do so, VIA plans to file with the US SEC a Form 15 to deregister its ADSs, and suspend its reporting obligations, under the U.S. Securities Exchange Act of 1934, as amended. The process for delisting from the NYSE, suspending US SEC reporting obligations and terminating the ADS program is expected to take time, require filings and notifications, and compliance with certain requirements. As such, VIA cannot provide assurances yet as to whether or when these actions will be consummated.

VIA had previously disclosed that it received notice from the NYSE that it is not currently in compliance with the continued listing standards of the NYSE.

Forward Looking Statement Disclosure:

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” These statements include, but are not limited to, statements relating to: IMI’s and VIA’s expectations as to the timing of VIA’s delisting and deregistration process; the anticipated benefits and cost savings of such actions; and other statements that are not historical facts. The words, without limitation, “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words. Forward-looking statements are based largely on the companies’ current expectations and projections about future events and financial trends that we believe may affect the companies’ financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances that are difficult to predict and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statement. Important factors that could cause actual events to differ materially from those in the forward-looking statements herein include actions taken or to be taken by VIA’s Supervisory Board or the VIA’s auditors in connection with the Supervisory Board’s findings. In particular, VIA’s Supervisory Board’s findings may continue to adversely affect VIA’s ability to file the 2022 20-F and other required reports with the US SEC in the anticipated time frame or at all. Other important factors include the risks described under Item 3. “Key Information—D. Risk Factors,” in VIA’s Annual Report on Form 20-F for the financial year ended December 31, 2021, as filed with the US SEC.  Moreover, new risks emerge from time to time. It is not possible for IMI’s and VIA’s management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. Any forward-looking statements contained in this press release are based on the current expectations of IMI’s and VIA’s management team and speak only as of the date hereof, and IMI specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

About VIA:

VIA is a leading provider of interactive display solutions for multiple end markets in which superior functionality or durability is a critical differentiating factor. Its customizable technology is well-suited for high-end markets with unique specifications and demanding environments that pose technical and optical challenges for displays, such as bright ambient light, vibration and shock, extreme temperatures, and condensation. VIA’s interactive display systems combine system design, interactive displays, software functionality, cameras, and other hardware components. VIA’s intellectual property portfolio, process know-how, optical bonding, metal mesh touch sensor and camera module technologies provide enhanced display solutions built to meet the specific needs of its customers.

About IMI

Integrated Micro-Electronics, Inc. (IMI), the manufacturing arm of AC Industrial Technology Holdings, Inc., a wholly-owned subsidiary of Ayala Corporation, is among the leading global technology and manufacturing solutions expert in the world.  Based on 2022 revenues, IMI ranks among the top 25 EMS service providers in the world per Manufacturing Market Insider, and is among the top ten automotive EMS companies per New Venture Research.

IMI specializes in highly reliable and quality electronics for long product life cycle segments such as automotive, industrial electronics and more recently, the aerospace market.

From its 21 manufacturing plants across nine countries, IMI provides engineering, manufacturing, and support and fulfillment capabilities to diverse industries globally.

For more information, visit www.global-imi.com.