Announcement on behalf of subsidiary, Sinmag
Equipment (China) Co., Ltd., the board of directors
approved the cash capital increase
Date of events
2022/06/10
To which item it meets
paragraph 11
Statement
1.Date of the board of directors resolution:2022/06/10
2.Source of capital increase funds:cash capital increase
3.Whether to adopt shelf registration
(Yes, please state issuance period/No):No
4.Total monetary value of the issuance and number of shares issued (shares
issued not including those distributed to employees if consisting in
capital increase from earnings or capital surplus):
CNY 48,303,833, common stock 13,055,090 shares
5.If adopting shelf registration, monetary value and number of shares
to be issued this time:NA
6.The remaining monetary value and shares after this issuance when
adopting shelf registration:NA
7.Par value per share:1 per share
8.Issue price:CNY 3.7 per share
9.Number of shares subscribed for by or allocated to employees:
13,055,090 shares
10.Number of shares publicly sold:NA
11.Ratio of shares subscribed by or allotted as stock
dividends to existing shareholders:0%
12.Handling method for fractional shares and shares
unsubscripted for by the deadline:NA
13.Rights and obligations of these newly issued shares:
Same as the original ordinary shares
14.Utilization of the funds from the capital increase:
To increase working capital.
15.Any other matters that need to be specified:
In order to motivate outstanding talents to strengthen
competitiveness, the company will give up all
subscriptions for this cash capital increase, which will
be subscribed by employees of the subsidiary Sinmag
Equipment (China) Co., Ltd..After the completion of
the cash capital increase, the company's shareholding in
Sinmag Equipment (China) Co., Ltd. decreased from 99.99%
to 96.38%.
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Sinmag Equipment Corporation published this content on 10 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 June 2022 08:31:03 UTC.
SINMAG EQUIPMENT CORPORATION is a Taiwan-based company principally engaged in the manufacturing and trading of bakery and kitchen equipment. The Company's products mainly include mixers, split-round shaping machines, flour pressing machines, fermentation machines, ovens, slicers, frying machines, refrigerators, display cabinets and other kitchen equipment. The Company's bakery machines are applied in the production of bread, cakes, moon cakes and pizzas. The Company is also engaged in the provision of labor services. The Company distributes its products within domestic market and to overseas markets, including Americas, Asia, Europe and Africa.
SINMAG EQUIPMENT CORPORATION 
