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The Board Of Directors Approved A Capital Increase Of Its 100% Owned Subsidiary

2020.05.13
The board of directors approved a capital increase of its 100% owned subsidiary " Fone Yang Technology Corp.

 

  1. Name and nature of the subject matter (if preferred shares, the terms and conditions of issuance shall also be indicated, e.g.dividend yield):Fone Yang Technology Corp.；Common Stock
  2. Date of occurrence of the event:2020/05/13
  3. Volume, unit price, and total monetary amount of the transaction: (1)Volume：40,000,000 shares (2)Unit price：NT$10 (3)Total monetary amount：NT$400,000,000
  4. Counterparty to the trade and its relationship to the Company (if the trading counterpart is a natural person and furthermore is not an actual related party of the Company, the name of the trading counterpart is not required to be disclosed): (1)Counterparty to the trade：Fone Yang Technology Corp. (2)Its relationship to the Company：Fone Yang Technology Corp. is GTC's 100% owned subsidiary
  5. Where the counterpart to the trade is an actual related party, a public announcement shall also be made of the reason for choosing the related party as trading counterpart and the identity of the previous owner (including its relationship with the company and the trading counterpart), price of transfer, and date of acquisition: It's an original subscription of stocks, therefore not applicable.
  6. Where a person who owned the property within the past five years has been an actual related person of the company, a public announcement shall also include the dates and prices of acquisition and disposal by the related person and the person’s relationship to the company at those times: It's an original subscription of stocks, therefore not applicable.
  7. Matters related to the creditor's rights currently being disposed of (including types of collateral of the disposed creditor's rights; if the creditor's rights are creditor's rights toward a related person, the name of the related person and the book amount of the creditor's rights toward such related person currently being disposed of must also be announced): N/A
  8. Anticipated profit or loss from the disposal (not applicable in cases of acquisition of securities) (where originally deferred, the status or recognition shall be stated and explained): N/A
  9. Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important stipulations: No restrictions and other important matters.
  10. The manner in which the current transaction was decided, the reference basis for the decision on price, and the decision-making department: With the approval of the company’s audit committee and by the resolution of the board of directors, the price decision is based on the cash capital increase issue price of Fone Yang Technology Corp.
  11. Net worth per share of the underlying securities acquired or disposed of:NT$10
  12. Current cumulative volume, amount, and shareholding percentage of holdings of the security being traded (including the current trade) and status of any restriction of rights (e.g.pledges): (1) Volume:41,100,000 shares (2) Amount:NT$411,000,000 (3) Shareholding percentage: 100%. (4) Status of any restriction of rights: None.
  13. Current ratio of long or short term securities investment (including the current trade) to the total assets and shareholder's equity as shown in the most recent financial statement and the operating capital as shown in the most recent financial statement: (1)Current ratio of long or short term securities investment to the total assets:70.72% (2)Current ratio of long or short term securities investment to the shareholder's equity:99.98% (3)The operating capital:NT$351,483,000
  14. Broker and broker's fee:N/A
  15. Concrete purpose or use of the acquisition or disposal: For Business Development
  16. Do the directors have any objection to the present transaction?: None.
  17. Is it a related party transaction?:Yes
  18. Date of the board of directors’resolution:2020/05/13
  19. Date of the recognition of the supervisors or the board of independent directors’resolution:2020/05/13
  20. Has the CPA issued an opinion on the unreasonableness of the price of the current transaction?:N/A
  21. Name of the CPA firm:N/A
  22. Name of the certifying CPA:N/A
  23. The practice certificate number of the CPA:N/A
  24. Is it related to new business model?:None.
  25. Explanation of new business model:N/A
  26. Transactions with the counterparty for the past one year and the next year: No transaction record in the past one year, and the transactions in the next year will be reevaluated according to the future business operating conditions.
  27. Source of funds: Own Funds
  28. Any other matters that need to be specified: None.
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