PSi Technologies Extends Maturity on US$4 Million Exchangeable Senior Subordinated Note
04 Agosto 2008 - 3:00PM
PR Newswire (US)
MANILA, Philippines, Aug. 4 /PRNewswire-FirstCall/ -- PSi
Technologies Holdings, Inc. (NASDAQ:PSIT), a leading independent
provider of assembly and test services for the power semiconductor
market, today announced the signing of an amendment to the $4
million exchangeable senior subordinate note issued to Merrill
Lynch Global Emerging Markets Partners, LLC, an affiliate of
Merrill Lynch Global Emerging Markets Partners, L.P., the Company's
majority shareholder. The amendment, dated July 31, 2008, extends
the maturity date of the aforementioned note from July 31, 2008 to
August 15, 2008. The maturity of the aforementioned note had
previously been extended from June 1, 2008 to July 31, 2008. The
note is issued by the Company's principal operating subsidiary, and
it accrues interest at 10% per year, net of Philippine withholding
tax. The note is exchangeable into the Company's common stock at a
price of $1.06 per share. About PSi Technologies Holdings, Inc. PSi
Technologies is a focused independent semiconductor assembly and
test service provider to the power semiconductor market. The
Company provides comprehensive package design, assembly and test
services for power semiconductors used in telecommunications and
networking systems, computers and computer peripherals, consumer
electronics, electronic office equipment, automotive systems and
industrial products. Their customers include most of the major
power semiconductor manufacturers in the world such as Infineon
Technologies, ON Semiconductor, Philips Semiconductor, and ST
Microelectronics. For more information, visit the Company's web
site at http://www.psitechnologies.com/ or call: At PSi
Technologies Holdings, Inc.: At Financial Relations Board: Larry
Cajucom Lasse Glassen (632) 838 4489 (213) 486 6546 This press
release contains forward-looking statements that involve risks and
uncertainties. Actual results and outcomes may differ materially.
Factors that might cause a difference include, but are not limited
to, those relating to the pace of development and market acceptance
of PSi's products and the power semiconductor market generally,
commercialization and technological delays or difficulties, the
impact of competitive products and technologies, competitive
pricing pressures, manufacturing risks, the possibility of our
products infringing patents and other intellectual property of
third parties, product defects, costs of product development,
manufacturing and government regulation, risks inherent in emerging
markets, including but not limited to, currency volatility and
depreciation, restricted access to financing and political and
social unrest and the possibility that the initiatives described
herein may not produce the intended results. PSi undertakes no
responsibility to update these forward-looking statements to
reflect events or circumstances after the date hereof. More
detailed information about potential factors that could affect
PSi's financial results is included in the documents PSi files from
time to time with the Securities and Exchange Commission.
DATASOURCE: PSi Technologies Holdings, Inc. CONTACT: Larry Cajucom
of PSi Technologies Holdings, Inc., +1-632-838-4489, ; or Lasse
Glassen of Financial Relations Board, +1-213-486-6546, , for PSi
Technologies Holdings, Inc. Web site:
http://www.psitechnologies.com/
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