TSC Auto ID Technology : Announcement on behalf of Company’s subsidiary for merger of its 100% stock owned Sub-subsidiary

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Provided by: TSC AUTO ID TECHNOLOGY CO., LTD.
SEQ_NO	2	Date of announcement	2022/06/28	Time of announcement	16:57:37
Subject	Announcement on behalf of Company's subsidiary for merger of its 100% stock owned Sub-subsidiary
Date of events	2022/06/28	To which item it meets	paragraph 11
Statement	1.Type of merger and acquisition (e.g.merger, spin-off , acquisition, or share transfer):Merger 2.Date of occurrence of the event:2022/06/28 3.Names of companies participating in the merger and acquisition (e.g., name of the other company participating in the merger, newly established company in a spin-off, acquired company, or company whose shares are transferred): Surviving entity: TSC Auto ID Technology America Inc. (hereinafter referred to as "TSCAA") Dissolved entity: Printronix Auto ID Technology Inc. (hereinafter referred to as "Printronix") 4.Trading counterparty (e.g., name of the other company participating in the merger, company spinning off, or trading counterparty to the acquisition or share transfer): Printronix Auto ID Technology Inc. 5.Relationship between the trading counterparty and the Company (investee company in which the Company has re-invested and has shareholding of XX%), explanation of the reasons for the decision to acquire from or transfer shares to an affiliated enterprise or related party, and whether it will affect shareholders' equity: Printronix Auto ID Technology Inc. is the subsidiary 100% owned by TSC AUTO ID (5% is owned directly by TSC AUTO ID and another 95% is owned via TSC Auto ID Technology America Inc.）TSC Auto ID Technology America Inc. is the subsidiary 100% owned by TSC AUTO ID. After TSC Auto ID Technology America Inc. acquires the 5% shares of Printronix Auto ID Technology Inc. from TSC AUTO ID, it will possess 100% shares of Printronix Auto ID Technology Inc. In order to enhance the group organization structure and increase operation efficiency, Printronix Auto ID Technology Inc. will then be merged into TSC Auto ID Technology America Inc. This merger is conducted for streamlining the investment structure within the group and hence will not cause any impacts on shareholders'equity. 6.Purpose of the merger and acquisition : Strengthen the Group's organizational structure and improve operation efficiency 7.Anticipated benefits of the merger and acquisition : Simplify the Group's organizational structure and improve operation efficiency 8.Effect of the merger and acquisition on net worth per share and earnings per share:None 9.Share exchange ratio and calculation assumptions:Not applicable 10.Whether the CPA, lawyer or securities underwriter issued an opinion on the unreasonableness regarding the transaction:Not applicable 11.Name of accounting, law or securities firm:Not applicable 12.Name of CPA or lawyer:Not applicable 13.Number of CPA or lawyer license:Not applicable 14.Estimated date of completion: The merger effective date is July 1, 2022 (tentative) 15.Matters related to the assumption of corporate rights and obligations of the dissolving company (or spin-off) by the existing or newly-established company: Effectively on the reference date of the merger, TSCAA (Surviving entity) will assume Printronix(Dissolved entity) and all of its rights and obligations. 16.Basic information of companies participating in the merger: TSCAA:Sale of barcode printers and relevant components Printronix:Sale of barcode printers and relevant components 17.Matters related to the spin-off (including estimated value of the business and assets planned to be transferred to the existing company or new company.The total no.of shares to be acquired by the spun-off company or its shareholders, and their respective types and no.Matters related to the reduction, if any, in capital of the spun-off company) (note: not applicable for announcements unrelated to spin-offs): Not applicable 18.Conditions and restrictions for future transfer of shares resulting from the merger and acquisition :Not applicable 19.Other important terms and conditions:None 20.Any objections from directors to the transaction:No 21.Is it related to new business model?:No 22.Explanation of new business model:Not applicable 23.Transactions with the counterparty for the past one year and the next year:Not applicable 24.Source of funds:Not applicable 25.Any other matters that need to be specified:None