Cash Reduction Press Release
In order to consider the Company's future operations and financial structure, and to enhance the return on shareholders' investment and the Company's profitability per share, the Company intends to undertake a cash capital reduction to return capital to shareholders. The amount of the cash capital reduction: The actual number of shares currently in issue for the Company is 165,357,520 common shares. The total number of shares to be issued is estimated to be 237,629,085 common shares with the addition of 72,271,565 new shares expected to be issued as a result of the share swap with Kingpak Technology Inc. The amount of the capital reduction is set at NT$578,751,320 and 57,875,132 shares will be eliminated, resulting in an estimated 179,753,953 common shares after the capital reduction. Based on the aforementioned capital reduction, the estimated capital reduction ratio is approximately 24.3%. Based on the ratio of each shareholder's shareholding, the cash refund is approximately NT$2.43 per share, but the amount of paid-in capital after the capital reduction and the actual capital reduction ratio are calculated based on the total number of issued and outstanding shares on the base date of the capital reduction and share exchange. Shares eliminated: Based on the shares held by each shareholder as recorded in the shareholders' register on the basis of the capital reduction and share exchange, the number of shares eliminated was approximately 243 shares per thousand (i.e. approximately 757 shares per thousand shares), resulting in a total of 57,875,132 shares eliminated. The new shares to be issued in the cash capital reduction and conversion exercise are intended to be issued without any entity, with the same rights and obligations. The Chairman is authorized to determine the "Base Date of Capital Reduction" and "Base Date of Capital Reduction and Share Exchange", etc. after the approval of the General Meeting of Shareholders and reporting to the competent authority to take effect.
Spokesperson: Mr. Shao-ping Lu, President
Tel: 02-2679-0122 e-mail：email@example.com
Bade Plant - Newly built plant construction beam erection ceremony
Merger of TONG HSING ELECTRONIC IND., LTD. and Kingpak Technology Inc.