QI » Topics » (22) Subsequent Events:

This excerpt taken from the QI 6-K filed Apr 30, 2008.
20.  Subsequent Events
 
The following significant events occurred after March 31, 2008:
 
On April 3, 2008, the Company entered into a four-year sale and lease back transaction of a portion of its 300mm equipment in its Dresden facility. The lease will be accounted for as capital lease in the three months ending June 30, 2008, whereby the present value of the respective lease payments of $43 million will be reflected as a capital obligation over the lease term.
 
On April 7, 2008, the indirect purchaser plaintiffs filed a petition with the Ninth Circuit Court of Appeals for leave to file an immediate appeal of the order on the motion to dismiss. No decision has yet been issued by the Ninth Circuit. On April 18, 2008, the U.S. District Court for the Northern District of California entered an order staying the indirect purchaser lawsuit pending the decision by the Ninth Circuit Court of Appeals on the plaintiffs’ request to file an immediate appeal.
 
On April 9, 2008, a hearing on the joint motion for class certification by the state attorneys general of California and New Mexico was held, but no decision has yet been issued. On April 10, 2008, the state attorney general of Delaware filed a request for dismissal of his claims without prejudice. On April 15, 2008, the U.S. District Court for the Northern District of California issued two orders in the New York and multistate state attorneys general cases on the defendants’ motions to dismiss. The order in the New York action denied defendants’ motion to dismiss. The order in the multistate state attorneys general case dismissed indirect purchaser claims under one state’s antitrust law and dismissed parens patriae claims on behalf of consumers under certain states’ consumer protection laws. The multistate order also granted defendants’ motion to strike any claim for relief seeking damages under certain states’ laws. The order denied defendants’ motion with respect to indirect purchaser claims under one state’s consumer protection statute and claims under certain states’ antitrust statutes (note 18). On April 28, 2008, the state attorney general of Vermont filed a request for dismissal of his claims without prejudice.
 
On April 21, 2008 the Company announced a comprehensive cost reduction program designed to adjust its cost structure and lower its breakeven point. The Company targets €180 in annualized cost reductions compared to the current cost structure. These cost reductions are based on a combination of reducing workforce in the range of 10% on a worldwide basis and cutting its recurring costs. This includes a reduction in non-volatile memory development to basic research activities and the termination of the related agreement with Macronix. The Company expects to realize these savings in full starting in its 2009 financial year and to accrue any restructuring charges relating to this program by the end of its 2008 financial year.
 
On April 21, 2008 the Company announced that it has signed a technology license and foundry agreement with Winbond whereby Winbond will license the Company’s Buried Wordline technology for 65 nm manufacturing.
 
On April 24, 2008 the Company and Elpida Memory, Inc., Japan, (“Elpida”) announced that they have signed a Memorandum of Understanding for a strategic technology partnership for the joint development of memory chips (DRAMs). In the planned cooperation, Qimonda will provide its know-how with the innovative Buried Wordline technology and Elpida its advanced stack capacitor technology. The strategic technology cooperation will leverage the strength of both companies to accelerate their roadmap to DRAM products featuring cell sizes of 4F2. The companies expect to conclude their negotiations and finalize definitive agreements in due course.


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(22) Subsequent Events:
 
The Company issued a second domestic unsecured bonds on January 5, 2007. The issuance was approved by the SFB, as follows:
 
                 
            Coupon Rate and
   
Principal
  Par Value   Duration   Interest Payment   Repayment Term
 
NT$4,000,000
  NT$1,000   2007.1.5 - 2012.1.5   Interest payable annually at 2.23%   Payable on maturity date


 

 
INOTERA MEMORIES, INC.
 
Notes to Financial Statements — (Continued)
 
This excerpt taken from the QI 6-K filed Jul 27, 2007.
18.  Subsequent Events
 
On July 10, 2007, the motion for class certification in the Indirect U.S. Purchaser Class was filed by the plaintiffs.
 
On July 17, 2007, the plaintiffs of the securities class actions filed a third amended complaint.
 
On July 18, 2007, in connection with the transfer of ownership of Qimonda Japan K.K. from Infineon, the capital increase of Qimonda AG was registered with the Commercial Register. The new registered share capital of Qimonda AG amounts to €684,000,002.00 and the Authorized Capital 2006/II is reduced to €239,399,998.00.


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