SMIC appoints new chairman and acting CEO, and resumption of trading

SHANGHAI, CHINA: Semiconductor Manufacturing International Corp. (SMIC), one of the leading semiconductor foundries in the world, has announced the following.

Reference is made to the announcement of Semiconductor Manufacturing International Corp. dated 29 and 30 June 2011 in relation to the passing away of the chairman of the board of directors of the company and independent non-executive director of the company and member of the Audit Committee of the company and Authorised Representative of the company and suspension of trading of the shares of the company, respectively.

Appointment of chairman and authorised rep
The Board is pleased to announce that Zhang Wenyi has been appointed as the chairman and authorised representative of the company for the purpose of the Listing Rules with effect from 15 July 2011.

The Board is pleased to announce that Zhang has been redesignated as an executive director of the company with effect from 2 July 2011. Zhang was appointed as the director of the Company with effect from 30 June 2011.

Following the redesignation of Zhang as the executive director of the company, the position of the third independent non-executive director of the company as required by Rule 3.10(1) of the Listing Rules has been vacated. The company will take steps to arrange for the appointment of the third independent non-executive director of the company as soon as practicable.

Resignation of CEO
The Board announced that David N. K. Wang has resigned as the CEO of the company with effect from 13 July 2011. It announced that Zhang has been appointed as the acting CEO of the company with effect from 15 July 2011. The company will continue to seek a candidate to fill the role of CEO.