Cirtek Acquisition

July 30, 2014

Laguna-based semiconductor manufacturer Cirtek Holdings Philippines Corp. (CHPC) (PSE: CHIPS), today
announced that its wholly-owned subsidiary Cirtek Electronics International Corporation (CEIC) has
entered into a sale and purchase agreement with REMEC Broadband Wireless Holdings (REMEC), for the
purchase of 100% of the shares of REMECs manufacturing division, REMEC Broadband Wireless
International, Inc. (RBWI), a Philippine-based manufacturer of value added, highly integrated technology
products. REMEC and its remaining subsidiaries will continue to design and market its top-of-class
telecommunications products globally under its REMEC brand, and, as part of this sale, REMEC will
enter into a manufacturing agreement with Cirtek to manufacture REMECs products under a long term
contract manufacturing relationship.

CEIC will acquire RBWI for consideration of between US$10M-US$12 Million. The final amount of such
consideration will be determined based on the net asset value of RBWI as of the closing date of the
transaction, with such determination to be agreed to by the parties. The Board of Directors of each
company has approved the transaction, which is expected to close on July 30 2014, subject to customary
closing conditions. CHPC expects to fund the transaction through a combination of available cash on
hand and proceeds from a corporate notes issuance.

According to CHPC Chairman Jerry Liu, REMECs proven and robust manufacturing and product
capabilities, and high level of engineering and technical expertise in the wireless communication
industry, complement Cirteks current competencies in customer- and application-specific IC packages.

Combined, we are now well-positioned to provide more comprehensive and sophisticated solutions to
our existing customers and to the addressable market, said Mr. Liu.

RBWI has over 18 years of experience in producing high quality niche PCBA and box-build in
low/medium/high volume and high mix products for industrial and consumer applications, such as
RF/microwave, emerging products of OEMs and ODMs for commercial, industrial, military and
telecommunications applications, and providing related repair services. These unique capabilities and
extensive experience in RF and Microwave manufacturing and engineering services offer a versatile
competitiveness in this field.

RBWIs contract manufacturing capabilities range from component level (transceivers, synthesizers,
oscillators, mixers, filters switches, microwave devices), sub-system and module level (power amps,
transceivers, filters, diplexers, mixers, mixed signal, PCBA), system level (spread spectrum radios, power
amplifiers, repeaters, modem, Outdoor RF Radios (ODU, IP Radio), 6GHz to 42GHz, broadband radios -
60GHz to 80GHz , and Indoor RF Radios (IRFU, IDU).

RBWI has shipped more than 1,000,000 finished products (ODUs, IP radios, transceivers and amplifiers)
which have been deployed extensively around the world with field-proven MTBF of over 100 years.

RBWI President Domingo Bonifacio praised the transaction and said, "This will allow us a more
comprehensive integration and synergy for both our engineering and product capabilities, and we are
very excited about the opportunities that we foresee given current market trends. Dave Newman,
REMECs CEO, was equally optimistic saying, "We are excited about having the opportunity to work with
Cirtek and to have our products manufactured by these highly capable and very experienced
organizations."

According to CHPC CFO Anthony Buyawe, The acquisition immediately expands Cirteks manufacturing
capacity and capability, adds to Cirteks customer base, and further increases the presence of Cirtek in
high-growth end markets such as telecommunication, automotive, medical, satellite communication,
aerospace and defense.


We expect the new business to make a material contribution to the Cirtek groups business and
financial performance moving forward, said Mr. Buyawe. This acquisition, together with the sustained
expansion of our core business, puts Cirtek in a strong position to achieve US$100 Mn in consolidated
sales by FY2015.


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About Cirtek

Cirtek is an independent complete solution provider for subcontract manufacturing of semiconductor
devices with 29 years of experience in the assembly and testing segment. It provides turnkey solutions
that include package design and development, wafer probing, wafer back grinding, assembly and
packaging, final testing of semiconductor devices, and delivery and shipment to its customers end
users. It listed on the Philippine Stock Exchange in November 2011 under the ticker CHIPS. Cirtek
recently acquired REMEC Broadband Wireless International, Inc. (RBWI), a Philippine-based
manufacturer of value added, highly integrated technology products.

About REMEC Broadband Wireless

REMEC Broadband Wireless Holdings and its subsidiary REMEC Broadband Wireless, LLC design and
market telecommunications products in the 6-80GHz frequency bands for the point-to-point radio,
cellular backhaul, enterprise, satellite communications and military markets. REMECs products are
manufactured in the Philippines by REMEC Broadband Wireless International, Inc., which, following
consummation of the transaction described above, will be a division of Cirtek.