<June 29, 2012 – Jhunan, Taiwan> Chimei Innolux (CMI, TSE code 3481) held its 2012 annual shareholders meeting today. During the meeting, by-elections were held to fill two director and two supervisor positions. Independent Director Wang Bo Bo (王渤渤) and Yang Hongwen(楊弘文), representative of Wellink Investment Co., Ltd.,(嘉聯投資) were elected to fill the two director positions. Furthermore, CMI successfully recruited Chen Yifang (陳一芳), former PwC (資誠會計事務所) Partner, and Lin Renguang(林仁光), Professor at National Taiwan University School of Law. The announcement of Jyh-Chau Wang(王志超) as the newly appointed representative for institutional shareholder Hyield Venture Capital (鴻揚創投)was also made this morning.

“I am grateful for the support of our two important investors Chimei Corporation(奇美實業) and Hong Hai(鴻海) for these by-elections,” remarked Chimei Innolux Chairman and CEO Dr. Hsing-Chien Tuan.(段行建) “The younger executive management team will take on greater responsibility for business operations in the future. With regard to the supervisor positions, we have specially invited accounting and legal professionals to join the board, and have committed to enhancing CMI’s competitive advantages within the high-tech industry.”

The selling of 600 million new shares as cash capital increase was approved and carried out at the company’s June 25th board of directors meeting. Shareholders at the meeting today also approved the implementation of a domestic cash capital increase and the issuance of cash capital increase global deposit receipts capped at 2.0 billion shares; or private placement; or overseas or domestic convertible corporate bonds temporarily established as NT$15.0 billion (or equivalent amount in U.S. dollars or other currency). The company also expects to complete a more than NT$20 billion capital increase plan in the third quarter of this year, which is currently following the originally set schedule.