PEGASUS ACE LIMITED agreed to acquire 40.57% stake in Casetek Holdings Limited (TSEC:5264) from King's Town Bank (TSEC:2809) and others for TWD 14.8 billion on August 13, 2020. PEGASUS ACE LIMITED will pay TWD 87.5 per share. King's Town Bank will sell 8.14 million shares for TWD 712.25 million. Each of the common share by Pegatron shall be converted into one common share in total, duly issued and fully paid up by the Surviving Company. Post completion, Casetek will become a wholly-owned subsidiary of Pegatron Corporation (TAIEX:4938), parent of PEGASUS ACE LIMITED. The Surviving Company shall continue to be named Casetek Holdings Limited with its registered address being that of Casetek on the Closing Date.

Casetek's directors who are in office on the day immediately before the Merger Record Date will become the initial directors of the Surviving Company (the "Initial Directors"); and (b) Casetek's officers who are in office on the day immediately before the Merger Record Date will become the initial officers of the Surviving Company.

Transaction is subject to approvals from the relevant competent authorities (including but not limited to the approval from the Investment Commission of the Ministry of Economic Affairs of the R.O.C. to be obtained by Pegatron; the approval from TWSE to terminate the listing of Casetek's shares and the permission from the Financial Supervisory Commission of the R.O.C. to cease Casetek's status as a public company in the R.O.C. to be obtained by Casetek), Castek shareholder approvals and Pegasus shareholders approval. Casetek plans to hold an extraordinary shareholders' meeting on September 30, 2020 to discuss the Merger and relevant proposals. After receiving the approvals from the relevant competent authorities, Casetek will apply with the Taiwan Stock Exchange for delisting and with the Financial Supervisory Commission for cessation of its status as a public company in Taiwan in accordance with the relevant regulations. Pegatron and Casetek Holdings Limited each held a board meeting on August 13, 2020 to approve the transaction. As per filing dated August 26, 2020 Casetek's shareholder meeting will be held on September 30, 2020. As of September 30, 2020 Pegasus shareholders have approved the transaction. As of November 30, 2020, the transaction was approved by regulatory authorities. The record date for the Merger is tentatively set as February 26, 2021. As of November 30, 2020, the revised expected completion date is January 15, 2021 and is subject to further change and announcement, should there be any changes due to regulatory instructions or other necessary needs.

Pegasus Ace Limited completed the acquisition of 40.57% stake in Casetek Holdings Limited (TSEC:5264) from King's Town Bank (TSEC:2809) and others on January 15, 2021.