Can a shareholder choose the number of UMC common shares he makes available for sale under the Program and will all shares which are made available for sale be sold by the end of the Sale Period?
Subject to the one-year minimum holding period, eligible shareholders may choose any number of their UMC common shares representing more than 0.04% of the outstanding UMC common shares. The Administrative and Transfer Agent will then provide an indicative pro rata allocation based on total demand by potential sellers. Once a shareholder receives government approval to sell that allocated number of shares, such shareholder is required to make available for sale all of the shares for which he has obtained approval, or he forfeits his right to sell any ADSs during that Sale Period. During the Sale Period, the Trade Facilitator may or may not purchase any or all of the shares which were made available for sale and therefore the eligible shareholder may or may not sell any or all of their shares. At the end of the Sale Period, the certificates for any shares that have not been purchased in ADS form by the Trade Facilitator can be collected from the escrow agent and returned to the relevant
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