The new organization includes 4 product Business Units as HE(Home Entertainment) BU, PE(Personal Entertainment) BU, C&P(Controller & Peripheral) BU and Advanced BU. There are also LCD IC program, Production Unit, Finance and Accounting Division, Administration Division, MIS department, Legal and IP Office, etc. The new organization will be effective on 2005/12/01. The Sunplus BOD also assigned Mr. Chou-Chye Huang as CEO in charge of the company operation, Mr. Yarn-Chen Chen as CTO in charge of strategic planning, Mr. Ho-Jung Ou as President of HE BU, Mr. Chih-Hao Kung as President of C&P BU and Mr. Da-Chang Chung as the Vice President of LCD Program. Concurrently, Mr. Oh-Jung Ou will serve as President of PE BU and Mr. Yarn-Chen Chen will serve as President of Advanced BU.
Meanwhile, Sunplus will spin-off the LCD IC business into its subsidiary HsuYao Technology Co., Ltd. ("HsuYao Technology", a temporary English name), and HsuYao Technology will gather the related assets and liabilities of the original Sunplus LCD IC business. Based on Sunplus financial results on September 30th, 2005 as final accounting date. Sunplus will spin-off the LCD IC business related assets, NT$1,418,980,000 and liabilities NT$319,180,000, which net value are NT$1,099,800,000 to HsuYao Technology. The capital of the spin-off company HsuYao Technology will be NT$900,000,000 and Sunplus will acquire the total 90,000,000 shares, which net price are NT$12.22 per share. HsuYao Technology will be 100% hold by Sunplus. After Sunplus shareholders approve this spin-off, the record date will be joint-decided by Board meeting of Sunplus and HsuYao Technology. So far the tentative record date will be on March 31st, 2006.
Sunplus will hold extraordinary shareholders' meeting to discuss this spin-off at 9:00a.m. January 19th, 2006 in Room203 of the Association of Industries in Science Park in Hsinchu. The shareholders' register shall be closed for registration of transfer from December 21st, 2005 through January 19th, 2006.