Gemtek Technology : Announcement of the Resolution of the Board to Repurchase Treasury Shares for the 10th time.

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Provided by: GEMTEK TECHNOLOGY Co.,Ltd
SEQ_NO	2	Date of announcement	2022/04/20	Time of announcement	21:00:41
Subject	Announcement of the Resolution of the Board to Repurchase Treasury Shares for the 10th time.
Date of events	2022/04/20	To which item it meets	paragraph 35
Statement	1.Date of the board of directors resolution:2022/04/20 2.Purpose of the share repurchase: Protect company reputation and shareholder equity. 3.Type of shares to be repurchased:Common shares 4.Ceiling on total monetary amount of the share repurchase (NTD): 5,272,887,000 5.Scheduled period for the repurchase:2022/04/21~2022/06/20 6.No.of shares to be repurchased (shares):20,000,000 7.Repurchase price range (NTD):28.00~38.00, continue to repurchase if the share price is below the minimum price. 8.Method for the repurchase: To repurchase in the centralized securities exchange market. 9.Shares to be repurchased as a percentage of total issued shares of the Company (%):4.94 10.Cumulative no.of the Company's own shares held at the time of reporting (shares):0 11.Status of repurchases within three years prior to the time of reporting: Actual repurchase period: 2020/03/31~2020/05/22 Actual repurchase volume (shares):3,293,000 shares have been cancelled. 12.Status of repurchases that have been reported but not yet completed: Reason: In the interest of protecting shareholder rights while following the market mechanism, the Company repurchased the shares in batches based on share price changes and volume. Therefore, the repurchase was not executed in full. 13.Minutes of the board of directors meeting that resolved for the share repurchase:The Company passed the Resolution of the Board of Directors on April 20, 2022. In accordance with the relevant regulations such as the "Regulations Governing Share Repurchase by Exchange-Listed and OTC-Listed Companies", the Company expects to buy back 20,000,000 ordinary shares of the company to protect company reputation and shareholder equity. 14.The Rules for Transfer of Shares set forth in Article 10 of the Regulations Governing Share Repurchase by Exchange-Listed and OTC-Listed Companies:N/A 15.The Rules for Conversion of Shares or the Rules for Subscription of Shares set forth in Article 11 of the Regulations Governing Share Repurchase by Exchange-Listed and OTC-Listed Companies:N/A 16.Declaration that the financial status of the Company has been considered by the board of directors, and that its capital maintenance will not be affected: Gemtek Technology Co., Ltd. Declaration of the Board of Directors (1)As approved by over half among the two-thirds majority of the directors who had attended the 10th Board of Directors Meeting on April 20, 2022, the Company is expected to repurchase 20,000,000 outstanding shares in the centralized securities exchange market (Taipei Exchange) within two months from the date of application. (2)As per the above, the total number of shares to be repurchased makes up only 4.94% of the Company's outstanding shares. The maximum amount of repurchase makes up only 6.33% of the Company's current assets. The Company hereby declares that the board of directors has taken into account the Company's financial status, and the repurchase will have no impact on the maintenance of the Company's capital. (3)This statement has been approved by the board of directors. All directors agree to the content of this statement. Gemtek Technology Co., Ltd. Chairman: Hong Wen Chen 17.Appraisal or opinion by a CPA or securities underwriter about the reasonableness of the share repurchase price: Opinion given by securities underwriter KGI Securities Co.,Ltd.: Considering that Gemtek Technology Co., Ltd. expects to buy back company stocks in the price range between NTD28 to NTD38 per share, it is deemed to have no material impact on the Company's financial structure, net asset value per share, earnings per share, return on equity, and liquidity ratio. In addition, the total amount of shares repurchased is expected to amount to a maximum of NTD760,000 thousand when the calculation is based on NTD 38 per share. As indicated by the Company's 2022 Q4 Financial Report, after adding retained earnings to the share premium, realized capital reserves, and deducting the special reserve, the maximum amount of shares that can be repurchased is NTD5,272,887 thousand, which does not exceed the limit set forth by the "Regulations Governing Share Repurchase by Exchange-Listed and OTC-Listed Companies". As a result, the repurchase price range set by the Company is deemed reasonable by the securities underwriter. 18.Other matters stipulated by the SFB: None