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Ambit dispose of 5MHz mobile broadband spectrum.

25th Sep 2014 11:38

RNS Number : 6084S
Hon Hai Precision Industry Co Ld
25 September 2014
 

Subject:On behalf of subsidiary Ambit Microsystem Corp. to announce dispose of 5MHz mobile broadband spectrum.

Date of events:2014/09/25

Contents:

1.Name and nature of the subject matter (if preferred shares, the terms and conditions of issuance shall also be indicated, e.g.dividend yield):

The spectrum use right for uplink 728~733MHz and downlink 783~788MHz in 700MHz Band A3 of mobile broadband business.

2.Date of occurrence of the event:2014/09/25~2014/09/25

3.Volume, unit price, and total monetary amount of the transaction:

Total monetary amount:NTD3,433,375,000

4.Counterpart to the trade and its relationship to the Company (if the trading counterpart is a natural person and furthermore is not an actual related party of the Company, the name of the trading counterpart is not required to be disclosed):

TAIWAN MOBILE CO., LTD.; None

5.Anticipated profit or loss from the disposal (not applicable in cases of acquisition of securities) (where originally deferred, the status or recognition shall be stated and explained):NTD28,375,000

6.Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important stipulations:

Cash will be paid at agreed date after approval from related Authorities.

7.The manner in which the current transaction was decided, the reference basis for the decision on price, and the decision-making department:

Both sides agreed

Expert's Opinion of price rationality

Board of Directors

8.Concrete purpose or use of the acquisition or disposition:

Operate mobile broadband business

9.Any other matters that need to be specified:

According to the agreed date from both sides, subsidiary Ambit Microsystem Corp. will file the spectrum transfer application to the Authorities after obtained the 4G license. Both sides also agreed to execute the transfer procedure at best efforts after all the approval from Authorities.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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