LED lighting will achieve greater popularity

Throughout the review process, experts recognized the strength of the students’ creative designs, noting that many of the ideas and creative concepts submitted are both innovative and functionally sound. However, the experts also held the unanimous view that students still have some work to do in order to understand LED lighting. LED lighting courses have yet to be widely adopted in universities, explaining why some designs lack practicality despite featuring novel design. Professor Zhan added, “As the government increases requirements for energy-saving and environmental protection, we believe that LED lighting will achieve greater popularity. As university students at large have an opportunity to take part in such high-level contests, it will further promote knowledge of LED lighting and help to train a new generation of innovative talents!”

The core objective of the Contest is to develop new lighting sources of the 21st century and discover and motivate highly innovative and high-caliber LED design talents to support China as an LED manufacturing and innovation center. Mr. Tang Guoqing, Secretary-General of the Organizing Committee of the Contest and General Manager for YAHAM China Sales explained, “So far, the Contest has proceeded very smoothly. We are very pleased to see the great enthusiasm that the students at large have shown to the LED lighting industry. We look forward to seeing fine physical implementations during the final round. Meanwhile, we welcome more students to join the sunrise industry of LED lighting.”

Under the terms of the agreement, which has been approved by both boards of directors, ON Semiconductor will commence a tender offer no later than December 29, 2009, to purchase all of the outstanding shares of CMD’s common stock for US$4.70 in cash. The closing of the tender offer is subject to customary conditions, including the tender of a number of shares that constitutes at least a majority of CMD’s outstanding shares of common stock on a fully diluted basis as further described in the merger agreement. The agreement also provides that the parties effect, subject to the satisfaction or waiver of customary conditions, a merger following the completion of the tender offer, which will result in all shares of CMD common stock not tendered in the tender offer being converted into the right to receive the same US$4.70 per share in cash paid in the tender offer. ON Semiconductor will finance the acquisition using existing cash resources and the closing of the transaction is not contingent on the receipt of financing. The companies expect the transaction to close in the first quarter of 2010.