The Board of Directors of Alltop resolves to conduct capital reduction
2020/10/21
| Subject The Board of Directors of Alltop resolves to conduct capital reduction |
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| paragraph xx article 4 paragraph 11 Date of events:2020/10/21 |
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Contents
1.Date of the board of directors resolution:2020/10/21
2.Reason for capital reduction:In order to adjust the capital structure and increase the return on equity, it is proposed to reduce capital and refund cash to shareholders.
3.Amount of capital reduction:NTD182,289,520
4.Cancelled shares:18,228,952 shares
5.Capital reduction ratio:25%
6.Share capital after capital reduction:NTD546,868,560
7.Scheduled date of the shareholders’ meeting:2020/12/10
8.Estimated no.of TPEx-listed common shares after issuance of new shares upon capital reduction:54,686,856 shares
9.Estimated ratio of TPEx-listed common shares after issuance of new shares upon capital reduction to outstanding common shares:100%
10.Please explain any countermeasures for lower circulation in shareholding if the aforesaid estimated no.of TPEx-listed common shares upon capital reduction does not reach 5 million and the ratio does not reach 25%:NA
11.Record date of capital reduction:NA
12.Any other matters that need to be specified:
ALLTOP held a material information press conference at TPEx at 16:30 on 2020/10/21. Regarding the resolution of ALLTOP board of directors on 2020/10/21 to handle the cash capital reduction case, the press is as follows:
(1)In order to adjust the capital structure and increase the return on equity, it is proposed to reduce capital and refund cash to shareholders.
(2)ALLTOP current actual issued share capital is NT$729,158,080. This time we plan to reduce the capital by NT$182,289,520 in cash. After the capital reduction, the paid-in capital will be NT$546,868,560. The estimated capital reduction ratio is 25%. Shareholders can refund each share NT$2.5, with amounts of less than NT$1.00 unconditionally rounded down, the reduced share capital will be refunded in cash according to the proportion of each shareholder's shareholding.
(3)Each shareholder is calculated based on date of capital reduction and share conversion, and 750 shares will be exchanged for every thousand shares. After the capital reduction, the new shares with cash replenishment were issued without entities, their rights and obligations are the same as the original issued shares.
(4)After the capital reduction, the shareholders can register the merger into a whole share with ALLTOP stock affairs agency from 5 days before the closing date of the capital reduction and share transfer. If the odd shares are less than one share, the shareholders' cash shall be discounted at the par value of the shares, with amounts of less than NT$1.00 unconditionally rounded down, and the chairman shall be authorized to contact a specific person to purchase at that value.
(5)After the approval of this capital reduction from the extraordinary shareholders' meeting and the authorities, ALLTOP Board of Directors will set schedule and timeline for the record date of the capital reduction and share conversion. Before the record date, any changes to the capital reduction ration and the amount returned per share caused by adjustment in regulations or request from the authorities, or in response to any other factors, will be brought up at the extraordinary shareholders' meeting in order to authorize ALLTOP Board of Directors to deal with the issue.
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