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12 januari 2005 Editorial BESI

Gepost in Semi-conductor industrie

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12 januari 2005

drs.J.W.Swaen

Door BESI werd op 14 december 2004 het volgende persbericht uitgegeven:

BE Semiconductor Industries NV Announces Restructuring to Improve Operational Profitability

Drunen, The Netherlands, December 14, 2004 - BE Semiconductor Industries N.V. ("the Company" or "Besi") (Nasdaq: BESI; Euronext: BESI), a leading manufacturer of assembly equipment for the semiconductor industry, today announced a restructuring of its operations focused principally on a workforce reduction at its Dutch packaging and tooling manufacturing operations in Duiven and Brunssum of 81 employees, or approximately 10% of total fixed headcount worldwide, as part of a plan to address the current downturn in the semiconductor industry. In addition, Besi will phase out theuse of approximately 50 temporary workers at the Duiven facility. A component of the restructuring will be the closing of Besi’s tooling facility in Brunssum, the Netherlands in the first half of 2005. The personnel terminations are expected to occur in the first quarter of 2005. Besi intends to take a restructuring charge in the fourth quarter ending December 31, 2004 to cover the estimated costs of this workforce reduction which is not expected to exceed € 5.6 million. Furthermore, in the fourth quarter, Besi expects to incur a charge of up to € 1.7 million relating to the write down of certain inventories and work in progress, which would have the effect of reducing gross margins for the fourth quarter by up to 5.5 percentage points.

In commenting on the restructuring plan, President and Chief Executive Officer Richard W. Blickman noted: "Ongoing economic uncertainties and industry over-capacity is resulting in customers delaying scheduled deliveries, capacity investment and the funding of strategic programs. We currently forecast that our sales for the fourth quarter of 2004 will decline by approximately 20% as compared to the third quarter level. We have taken the difficult, but necessary, steps to realign our operations in response to reduced demand. The restructuring also is consistent with Besi’s plans to reduce exposure in high cost geographies and to rely more on low cost manufacturing regions. However, we continue to believe that the fundamental factors affecting demand for semiconductors and semiconductor assembly equipment remain positive over the long-term."

Begin januari 2005 kwam BE Semiconductor opnieuw met een persbericht.

In dat persbericht werden nu wel meer financiële gegevens vermeld m.b.t. de overname van Datacon Technology AG , waaruit de conclusie kan worden getrokken dat men toch naar aanleiding van mijn vragen zich genoodzaakt heeft gezien helderheid te verschaffen. Uit die nieuwe cijfers blijkt dat mijn vermoedens juist waren

Maar er zit nog meer in het persbericht verborgen namelijk een melding

"Besi expects to complete the determination of the allocation of the purchase price in the first quarter of 2005 and anticipates taking a non-cash charge in the first quarter of 2005 related to in-process research and development. Excluding such charge, Besi anticipates that the transaction will be accretive to its earnings per share in 2005 assuming no synergies related to the combination of the two firms".

Tenslotte kwam BESI op 11 januari opnieuw met een persbericht waarin de uitgifte van een converteerbare obligatie werd aangekondigd:

PRESS RELEASE

NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA OR JAPAN

Offering of Convertible Notes due 2012

BE Semiconductor Industries N.V. ("Besi"), a leading manufacturer of assembly equipment for the

semiconductor industry, announces that it has today launched an issue of €40 million convertible notes (the "Notes") due 2012 (the "Offer").

The Notes will be offered to institutional investors in the Netherlands and internationally to professional investors through an international private placement, in reliance on Regulation S of the US Securities

Act of 1933, as amended.

In connection with the Offer, Besi intends to grant Morgan Stanley & Co. International Limited an

option to acquire additional Notes with an aggregate principal amount of up to €6 million.

The Notes mature 7 years from the date of issue and are expected to carry an interest rate of between 5% and 5½% per annum, payable semi-annually, with the first payment expected on or around 28

August 2005 and an initial premium of between 25% and 35%. The Notes will be repaid at maturity in 2012 at a price of 100% of their principal amount. If not converted, Besi may redeem the outstanding Notes at their par value on or after four years from the date of issue, subject to the share price exceeding 130% of the then effective conversion price.

The Offer is being lead managed by Morgan Stanley & Co. International Limited, who has also been appointed as the stabilising manager.

Application for listing of the Notes on the official segment of the stock market of Euronext Amsterdam N.V. will coincide with publication of the prospectus, expected to be on 25 January 2005. Listing is expected to take place on 28 January 2005.

Final terms of the Offer are expected to be set and announced on or before 12 January 2005.

Following pricing of the Notes, as if and when issued trading is expected to commence on or before 13 January 2005

The net proceeds of the Offer will be used by Besi for general corporate purposes, including working capital and capital expenditures. In addition, Besi may choose to repay all or a portion of the credit facilities that were assumed upon closing of the acquisition of Datacon Technology AG. At 4 January 2005 Datacon Technology AG had net debt of €23.7 million. Pending such use, Besi intends to invest all or a portion of the net proceeds in short-term, interest-bearing instruments.

Op 12 januari 2005 gevolgd door opnieuw een persbericht:

NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA OR JAPAN

BE Semiconductor Industries N.V. Announces

Final Terms of Convertible Notes Offer BE Semiconductor Industries N.V. ("Besi"), a leading manufacturer of assembly equipment for the semiconductor industry, announces that its offer (the "Offer") of convertible notes ("the Notes") was

priced on 11 January 2005.

The Notes mature 7 years from the date of issue and carry an interest rate of 5½% per annum,

payable semi-annually, with the first payment on or around 28 July 2005 and an initial conversion price of €5.1250. The Notes will be repaid at maturity in 2012 at a price of 100% of their principal amount. If not converted, Besi may redeem the outstanding Notes at their par value on or after four years from the date of issue, subject to the share price exceeding 130% of the then effective conversion price.

The Offer is set to raise €40 million, or €46 million if Morgan Stanley & Co. International Limited exercises the option granted to it by Besi to acquire additional Notes.

Application for listing of the Notes on the official segment of the stock market of Euronext Amsterdam N.V. will coincide with publication of the prospectus, expected to be on 25 January 2005. Listing is expected to take place on 28 January 2005. As if and when issued trading is expected to commence on 13 January 2005.

Drunen, 13 January 2005

PRESS RELEASE

NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA OR JAPAN

BE Semiconductor Industries N.V. Announces Exercise of

Option to Acquire Additional Notes in Convertible Notes Offer

BE Semiconductor Industries N.V. ("Besi"), a leading manufacturer of assembly equipment for the semiconductor industry, announces that, in connection with its offer (the "Offer") of convertible notes (the "Notes") due 2012 launched on 11 January 2005, Morgan Stanley & Co. International Limited has today exercised an option granted to it by Besi to acquire €6 million in principal amount of additional Notes.

The exercise of the option increases the amount raised in the Offer from €40 million to €46 million. The Offer was lead managed by Morgan Stanley & Co. International Limited.

Een reden te meer om de columns over BE Semiconductor opnieuw te lezen.

14 december 2004 BESI en de onvermijdelijkheid van nieuw managment

29 november 2004 Transparantie en Besi?

15 november 2004 Investor relations van BESI en de vraag om nadere gegevens m.b.t de overname van Datacon AG

14 november 2004 BESI wereldmarktleider Flip Chip bounding Equipment