News

As announced on August 4, 2023, Integrated Micro-Electronics (IMI) and minority shareholders of STI Enterprises Limited (STI) have entered into an agreement to sell their respective 80% and 20% shares in STI to Rcapital, a private investment firm based in London with a portfolio of UK-based companies including precision engineering solution providers in the aerospace and defense sectors.

With the condition precedent having been met, particularly, the UK government’s clearance under the National Security and Investment Act 2021, and closing deliverables having been exchanged by the parties, the transaction was completed on October 31, 2023.

The conclusion of this divestment initiative will allow IMI management to sharpen its portfolio and focus on driving growth and profitability in its core segments. The mobility and industrial markets remain at the forefront for IMI, with interconnectivity and the electrification of vehicles driving technology megatrends of the near future.

Very truly yours,

LAURICE S. DELA CRUZ

Chief Finance Officer

and Compliance Officer

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 20 manufacturing plants across ten countries, IMI provides engineering, manufacturing, and support and fulfillment capabilities to diverse industries globally.

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

About Rcapital

Rcapital is a private investment business that provides turnaround and growth funding to UK businesses. Unlike a traditional private equity house, Rcapital uses its own capital to invest in businesses, so it has a vested interest in delivering long term financial and reputational results.

Rcapital invests in mid-market businesses across a variety of sectors, currently with an investment portfolio of 11 businesses in sectors ranging from content marketing services to engineering and manufacturing. Since 2004, it has successfully invested in over 75 businesses, including businesses with financial and operational challenges; those experiencing rapid growth; overleveraged businesses which require financial restructuring; and non-core carve out investments from large corporates.

Investor Contact

Brian Jalijali

Global Head of Investor Relations and Business Development Finance Brian.Jalijali@global-imi.com