AcBel Polytech Inc.

06/22/2022 | Press release | Distributed by Public on 06/22/2022 05:17

The Board of Directors approve SPV investment for Energy Storage System.

Close
Today's Information

Provided by: AcBel Polytech Inc.
SEQ_NO 4 Date of announcement 2022/06/22 Time of announcement 19:13:46
Subject
 The Board of Directors approve SPV investment
for Energy Storage System.
Date of events 2022/06/22 To which item it meets paragraph 20
Statement
1.Name and nature of the underlying assets (if preferred shares, the terms
and conditions of issuance shall also be indicated, e.g., dividend yield,
etc.):Sumray Power Company ordinary shares.
2.Date of occurrence of the event:2022/06/22~2022/06/22
3.Amount, unit price, and total monetary amount of the transaction:Upper
limit:60,000,000 shares, NT$10 per share, monetary amount NT$600,000,000
4.Trading counterparty and its relationship with the Company (if the trading
counterparty is a natural person and furthermore is not a related party of
the Company, the name of the trading counterparty is not required to be
disclosed):Sumray Power Company; None
5.Where the trading counterparty is a related party, announcement shall also
be made of the reason for choosing the related party as trading counterparty
and the identity of the previous owner, its relationship with the Company
and the trading counterparty, and the previous date and monetary amount of
transfer:N/A
6.Where an owner of the underlying assets within the past five years has
been a related party of the Company, the announcement shall also include the
date and price of acquisition and disposal by the related party, and its
relationship with the Company at the time of the transaction: N/A
7.Matters related to the current disposal of creditors' rights (including
types of collaterals of the disposed creditor's rights; if creditor's
rights over a related party, announcement shall be made of the name of the
related party and the book amount of the creditor's rights, currently being
disposed of, over such related party): N/A
8.Profit or loss from the disposal (not applicable in cases of acquisition
of securities) (those with deferral should provide a table explaining
recognition): N/A
9.Terms of delivery or payment (including payment period and monetary
amount), restrictive covenants in the contract, and other important terms
and conditions:Investment based on Sumray Power Company fund requirement.
10.The manner of deciding on this transaction (such as invitation to tender,
price comparison, or price negotiation), the reference basis for the
decision on price, and the decision-making unit:The Board of Directors approve
 the investment by par value NT$10 per share.
11.Net worth per share of the Company's underlying securities acquired or
disposed of: NT$68.44
12.Cumulative no.of shares held (including the current transaction), their
monetary amount, shareholding percentage, and status of any restriction of
rights (e.g., pledges), as of the present moment:Upper limit: 60,000,000
 shares, monetary amount NT$600,000,000, shareholding percentage 90~95%,
 no restriction of rights.
13.Current ratio of securities investment (including the current trade, as
listed in article 3 of Regulations Governing the Acquisition and Disposal of
Assets by Public Companies) to the total assets and equity attributable to
owners of the parent as shown in the most recent financial statement and
working capital as shown in the most recent financial statement as of the
present:
To total assets:48.61%;
To equity attributable to owners of the parent:126.68%
Working capital: -3,180,399 thousand (The company own funds
 sufficient for this investment.)
14.Broker and broker's fee:N/A
15.Concrete purpose or use of the acquisition or disposal:
Investment in energy storage system.
16.Any dissenting opinions of directors to the present transaction:None.
17.Whether the counterparty of the current transaction is
a related party:N/A
18.Date of the board of directors resolution:2022/06/22
19.Date of ratification by supervisors or approval by
the Audit Committee:2022/06/22
20.Whether the CPA issued an unreasonable opinion regarding the current
transaction:N/A
21.Name of the CPA firm:N/A
22.Name of the CPA:N/A
23.Practice certificate number of the CPA:N/A
24.Whether the transaction involved in change of business model:None
25.Details on change of business model:N/A
26.Details on transactions with the counterparty for the past year and the
expected coming year:Past year: None.
Expected coming year: Invest progressively within the upper limit
 approved by the Board of Directors.
27.Source of funds: The company own funds.
28.Any other matters that need to be specified:
This is SPV (Special Purpose Vehicle) investment related to energy storage
 system NT$1,630 million project approved by the Board of Directors on
 2022/05/06.