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Announcement for the acquisition of assets and liabilities of High Tech Computer (H.K.) Limited on behalf of HTC HK, Limited
1.Kind of merger/acquisition (e.g.merger, consolidation, spin-off, acquisition, or receiving assignment of shares):Acquisition of assets and liabilities
2.Date of occurrence of the event:2011/05/23
3.Names of companies participating in the merger (e.g.name of the other company participating in the merger or consolidation, newly established company in a spin-off, acquired company, or company whose shares are taken assignment of):HTC HK, Limited
4.Counterparty (e.g.name of the other company participating in the merger or consolidation, company taking assignment of the spin-off, or counterparty to the acquisition or assignment of shares):High Tech Computer (H.K.) Limited
5.Relationship between the counterparty and the Company (investee company in which the Company has re-invested and has shareholding of XX%), and explanation of the reasons for the decision to acquire, or take assignment of the shares of, an affiliated enterprise or related person, and whether it will affect shareholders' equity:
1. HTC HK, Limited and High Tech Computer (H.K.) Limited are both 100% owned by HTC Corp. indirectly.
2.Reorganization of company’s overseas subsidiaries structure
3.It will not affect shareholders’ equity
6.Purpose/objective of the merger/acquisitionation:Reorganization of company’s overseas subsidiaries structure
7.Anticipated benefits of the merger/acquisition:To integrate the resources of Hong Kong subsidiaries and reduce management cost
8.Effect of the merger or consolidation on net worth per share and earnings per share:None
9.Share exchange ratio and basis of its calculation:The acquisition is based on the book value of assets and liabilities of High Tech Computer (H.K.) Limited on March 31, 2011.
10.Scheduled timetable for consummation:Effective date is scheduled to be June 30, 2011
11.Matters related to assumption by the existing company or new company of rights and obligations of the extinguished (or spun-off) company::N/A
12.Basic information of companies participating in the merger:
1.The principal activities of HTC HK, Limited are international investment.
2.The principal activities of High Tech Computer (H.K.) Limited are market development, repair and after-sales services.
13.Matters related to the spin-off (including estimated value of the business and assets planned to be assigned to the existing company or new company; the total number and the types and volumesof the shares to be acquired by the split company or its shareholders; matters related to the reduction, if any, in capital of the split company) (note: not applicable other than where there is announcementof a spin-off):N/A
14.Conditions and restrictions on future transfers of shares resulting from the merger or acquisition:None
15.Other important stipulations:None
16.Do the directors have any objection to the present transaction?:None