19th Oct 2006 11:26
Hon Hai Precision Industry Co Ld19 October 2006 HON HAI PRECISION INDUSTRY CO., LTD. Subject:Board resolution in swap ratio modification for merger with Premier Image Technology Corp.(2394.TW) Statement: 1. The June 20 announcement from both companies on swap ratio of 3.9:1 indicates the ratio has not taken effect of the cash and stock dividends from both companies nor the employee share grants passed by both companies' AGM. As both companies have now filed and received approval from Financial Supervisory Commission, Executive Yuan, ROC, to protect investors' rights and taking consideration of the known dividends and grants, both boards have agreed to modify the swap ratio to 3.4083246:1 per item 4 of the merger agreement. 2. The modification of the swap ratio fully comply with the merger agreement and related rules and regulations governing merger and acquisition. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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