Posiflex Technology : Shareholding reduction in subsidiary, Portwell, Inc. (Supplementary announcement of Strategic Alliance with ASUSTEK - Phase II Investment completed)
Shareholding reduction in subsidiary,
Portwell, Inc. (Supplementary announcement of Strategic
Alliance with ASUSTEK - Phase II Investment completed)
Date of events
2022/06/30
To which item it meets
paragraph 49
Statement
1.Name of the major subsidiary、Article 7 paragraph 3 subsidiary deemed as
the listed company, or a subsidiary of a listed company applies for listing
of securities in an overseas securities market for trading:Portwell, Inc.
2.Cause of occurrence of the event (reduce the percentage of shareholding,
contributions or lose control ):Reduce the percentage of shareholding.
3.Method of shareholding or contributions reduction (Please specify the
date, reason, method, reduction percentage, volume, unit price, and total
amount each time):
Based on the strategic alliance cooperation agreement signed between the
Company and ASUSTEK on February 04, 2021, ASUSTEK intends to proceed with
Phase II investment, to acquire 15% shares (14,747 thousand shares) of
Portwell for NT$825 million. The Company's shareholding in Portwell will
be reduced from 70% to 55%.
The aforementioned transaction was completed On June 30, 2022.
4.Method of loss of control(Please specify the date, reason, and method):
NA. Portwell remains the major subsidiary of the Company.
5.Equity (or capital) recipient or counterparty (please list separately for
each transaction):ASUSTEK COMPUTER INC.
6.Relationship with counterparty (Please specify the relationship with
counterparty each time):Non related-party of the Company.
7.Gains (or losses) on disposal (Please specify the gains (or losses) on
disposal each time.If there is no gains (or losses), please fill in "NA"):
NA
8.Cumulative reduction of shareholding in major subsidiaries, Article 7
paragraph 3 subsidiary deemed as the listed company, or a subsidiary of a
listed company applies for listing of securities in an overseas securities
market for trading so far (including the current transaction):45%
9.Shareholding in major subsidiaries, Article 7 paragraph 3 subsidiary
deemed as the listed company, or a subsidiary of a listed company applies
for listing of securities in an overseas securities market for trading at
present (including the current transaction):55%
10.Name of independent expert and his/her opinion on reasonableness of
pricing in each transaction:
CPA Mr. Sheng-Jie Tu of Sheng-Jie Accounting Firm. The transaction value
is fair and reasonable.
11.Name of independent expert and his/her opinion on the impact of reduction
of shareholding or loss of control on the rights of the listed company's
shareholders:
CPA Mr. Sheng-Jie Tu of Sheng-Jie Accounting Firm. There is no material
impact on the rights of the Company's shareholders.
12.Any effect on the ongoing listing of the parent company:No effect.
13.Date of the audit committee resolution:2021/02/04
14.Details of audit committee resolution:
The committee approved the proposal unanimously with no objections.
15.Date of the board of directors resolution:2021/02/04
16.Details of board of directors resolution:
The board of directors approved the proposal unanimously with no objections.
17.Any other matters that need to be specified:NA
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Posiflex Technology Inc. published this content on 30 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2022 08:21:03 UTC.
Posiflex Technology Inc is a Taiwan-based company principally engaged in the research, development, manufacture and sale of industrial computer system products and industrial computer peripheral products. The industrial computer system products include point-of-sale (POS) systems, information service systems and industrial computer products. The industrial computer peripheral products include POS peripheral equipment. The Company's products are mainly applied in the areas of retailing, Internet of things and finance. The Company distributes its products mainly to the Americas, Europe and Asia markets.
Posiflex Technology : Shareholding reduction in subsidiary, Portwell, Inc. (Supplementary announcement of Strategic Alliance with ASUSTEK - Phase II Investment completed)
POSIFLEX TECHNOLOGY, INC. 
