SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15D-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of January, 2004
Commission File Number: 000-30540
GIGAMEDIA LIMITED
122 TunHua North Road, 14th Floor
Taipei, Taiwan (R.O.C.)
(Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.)
Form 20-F [ x ] Form 40-F [ ]
(Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes [ ] No [ x ]
(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b) :82- .)
GIGAMEDIA LIMITED is furnishing under cover of Form 6-K:
GigaMedia Announces Resignation of Chief Financial Officer
GIGAMEDIA ANNOUNCES RESIGNATION
OF CHIEF FINANCIAL OFFICER
TAIPEI, Taiwan, January 20, 2004 - GigaMedia Limited ("GigaMedia" or the
"Company") (Nasdaq: GIGM, www.giga.net.tw), a diversified provider of online and
offline entertainment services in Taiwan, today announced the impending
departure of its chief financial officer, Mr. Winston Hsia, effective as of a
date to be determined. Mr. Hsia will continue to serve as chief financial
officer of the Koos Group company, China Network Systems Co., Ltd. ("CNS").
GigaMedia has initiated a search for a new chief financial officer. Mr. Hsia's
resignation will be effective immediately following the earlier of (a) a
replacement being named by GigaMedia, or (b) March 31, 2004. It is also
contemplated that Mr. Hsia will remain in a consulting capacity during the
transition to new management.
Chief Executive Officer Arthur M. Wang said, "We wish Winston the best and thank
him for his strong commitment to GigaMedia over the past three years.
Fortunately, Winston's departure comes at a time when our accounting functions
are solid and GigaMedia is financially sound. We are confident that he will
continue to provide strong financial stewardship while we conduct our search and
selection of a new CFO."
Mr. Hsia joined GigaMedia in March 2001. In tendering his resignation, Mr. Hsia
cited a desire to devote his time to his responsibilities at CNS and the need
for GigaMedia to have a dedicated CFO.
ABOUT GIGAMEDIA
GigaMedia Limited (Nasdaq: GIGM) is a diversified provider of entertainment
services in Taiwan. The Company's online/offline business model provides the
Company multiple distribution channels, deep customer relationships and the
ability to meet future market demands as technology drives new media and
entertainment industry change.
Offline, GigaMedia operates Taiwan's two largest music store chains, Rose
Records and Tachung Records through its subsidiary G-Music. Online, the Company
operates a major broadband ISP, providing Internet access service and broadband
content with multiple delivery technologies. The Company's access products
consist of premium cable modem and ADSL offerings, giving the Company the
ability to deliver superior broadband connections island-wide. GigaMedia's cable
modem is a world-class platform capable of offering broadband Internet access at
speeds of up to 100 times faster than traditional dial-up services. With 21
cable system partners, the Company's cable modem business passes more than 3.1
million Taiwan households, as well as 417,000 small and medium businesses. In
addition, the Company offers interactive Chinese-language multimedia Web sites
through its Web destination http://www.gigigaga.com. Other subsidiary companies
of GigaMedia include Koos Broadband Telecom Limited, a broadband service
provider focused exclusively on corporate subscribers in Taiwan. Strategic
investors of GigaMedia include the Koos Group, a major participant in Taiwan's
manufacturing, finance, telecommunications, media, and cable industries. More
information on GigaMedia can be obtained from http://ir.giga.net.tw.
The statements included above and elsewhere in this press release that are not
historical in nature are "forward-looking statements" within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. GigaMedia cautions readers that forward-looking statements are based on
the company's current expectations and involve a number of risks and
uncertainties. Actual results may differ materially from those contained in such
forward-looking statements. Information as to those factors that could cause
actual results to vary can be found in GigaMedia's Registration Statement on
Form 20-F/A filed with the United States Securities and Exchange Commission in
August 2003.
CONTACT:
GIGAMEDIA LIMITED
Brad Miller, Investor Relations Director
886-2-8770-7966 ext. 1107
bradley_miller@corp.giga.net.tw
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
GigaMedia Limited
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(Registrant)
Date: January 20, 2004 By: /s/ Hsia, Winston
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(Signature)
Name: Hsia, Winston
Title: Chief Financial Officer