Today's Information |
Provided by: CHANNEL WELL TECHNOLOGY CO.,LTD | |||||
SEQ_NO | 7 | Date of announcement | 2022/03/25 | Time of announcement | 19:14:02 |
Subject | Announcement the resolution of Company's Board of Directors to increase investments of off-Shore subsidiaries and adjust the Group's investment structure | ||||
Date of events | 2022/03/25 | To which item it meets | paragraph 20 | ||
Statement | 1.Name and nature of the underlying assets (if preferred shares, the terms and conditions of issuance shall also be indicated, e.g., dividend yield, etc.): NEWWIN INTERNATIONAL CO., LTD. TOP BEST INDUSTRIAL CO., LTD. 2.Date of occurrence of the event:2022/03/25 3.Volume, unit price, and total monetary amount of the transaction: USD 20 million 4.Trading counterparty and its relationship to the Company (if the trading counterparty is a natural person and furthermore is not a related party of the Company, the name of the trading counterparty is not required to be disclosed): Subsidiary that the Company directly owned 100% of shares. 5.Where the trading counterparty is a related party, announcement shall also be made of the reason for choosing the related party as trading counterparty and the identity of the previous owner, its relationship with the Company and the trading counterparty, and the previous date and monetary value of transfer:N/A 6.Where an owner of the underlying assets within the past five years has been an related party of the Company, the announcement shall also include the date and price of acquisition and disposal by the related party, and its relationship to the Company at the time of the transaction:N/A 7.Matters related to the current disposal of creditors' rights (including types of collaterals of the disposed creditor's rights; if creditor's rights over a related party, announcement shall be made of the name of the related party and the book amount of the creditor's rights, currently being disposed of, over such related party:N/A 8.Profit or loss from the disposal (not applicable in cases of acquisition of securities) (where originally deferred, the status of recognition shall be listed and explained):N/A 9.Terms of delivery or payment (including payment period and monetary value), restrictive covenants in the contract, and other important terms and conditions:N/A 10.The manner in which the current transaction was decided, the reference basis for the decision on price, and the decision-making unit: This proposal was approved by the board of directors and the audit committee on March 25, 2022. 11.Net worth per share of the Company's underlying securities acquired or disposed of: N/A 12.Cumulative no.of shares held (including the current transaction), their monetary value, shareholding percentage, and status of any restriction of rights (e.g., pledges), as of the present moment: Monetary value: USD 21 millon Shareholding percentage:100% Status of any restriction of rights: None 13.Ratio of securities investment (including the current transaction) to the total assets and shareholder's equity of the parent company on the latest financial statements, and the operating capital on the latest financial statements, as of the present moment: Ratio to the total assets: 6.35% Ratio to shareholders' equity of the parent company: 10.09% Amount of operating capital: NTD1,684,925 thousand 14.Broker and broker's fee:N/A 15.Concrete purpose or use of the acquisition or disposal: In response to the Group's strategic development, long-term operating plans and adjustment of the investment holding structure. 16.Whether the directors expressed any objection to the current transaction:No 17.Whether the counterparty of the current transaction is a related party:No 18.Date of the Board of Directors' resolution:2022/03/25 19.Date of ratification by supervisors or approval by the Audit Committee:2022/03/25 20.Whether the CPA issued an opinion on the unreasonableness regarding the current transaction:N/A 21.Name of the CPA firm:N/A 22.Name of the CPA:N/A 23.License no.of the CPA:N/A 24.Any other matters that need to be specified: 1.The Company increased its investment in NEWWIN INTERNATIONAL CO., LTD. by USD 20 million, and NEWWIN INTERNATIONAL CO., LTD. invested USD 3 million in TOP BEST INDUSTRIAL CO., LTD.. 2.1.Young Ling Enterprise Co., Ltd., which was originally held by the Company, will be changed to 100% held by NEWWIN INTERNATIONAL CO., LTD.. 2.2.Channel Well Technology (Vietnam) Co., Ltd. ,which was originally held by Young Ling Enterprise Co., Ltd., will be changed to 100% held by TOP BEST INDUSTRIAL CO., LTD.. 3.The above companies are all directly or indirectly 100% owned subsidiaries by the Company. The adjustment of the Group's investment structure has no impact on the Company's consolidated profit and loss and shareholders' equity . |
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CWT - Channel Well Technology Co. Ltd. published this content on 25 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2022 11:26:05 UTC.