news & events

Announcement for the withdrawal of the issuance of New Shares for cash capital increase

Date of occurrence of the eventOctober 13, 2016
Date of the original public announcement and reportingMarch 23, 2016

Summary of the content originally publicly announced and reported

The Board of Directors resolved the issuance of New Shares of cash capital increase.

Reason for, and major content of, the changeThe recent political and economic unrest results in fluctuation in domestic capital markets, which increases the uncertainly to raise fund through issuing new common shares, therefore, the Company intends to withdraw the issuance of New Shares for cash capital increase with Financial Supervisory Commission.
Effect on the Company’s finances and business after the changeThe Company will change the funding needs to be financed by its own funds or other means of finance, accordingly, there’s no major impacts on the Company’s financial and business operation.
Any other matters that need to be specified
  1. According to the letter No. 1050016576 from Financial Supervisory Commission received on May 18, 2016, the Company is permitted to issue new common shares by public offering.  The new issue is set at 10,000,000 shares with par value of NTD10 per share.  On July 29, 2016, the Company applied for an extension of the period for issuing new shares to November 17, 2016.  The Financial Supervisory Commission has approved the extension according to the letter No. 1050030364 issued on August 3, 2016.

  2. The Board of Directors has authorized the Chairman to deal with other relevant matters on the issuance of New Shares for cash capital increase on March 23, 2016, therefore, the withdrawal of issuance has been approved by the Chairman on October 13, 2016 for further proceedings.

  3. The withdrawal of the issuance is not yet approved by Financial Supervisory Commission, the Company will post another announcement once the approval letter is received.