WPG Holdings Limited Commences a Cash Tender Offer for Genuine C&C INC.
2015-03-02
1.Date of filing reporting of the public tender offer:2015/03/02 2.Company name of the public tender offeror:WPG Holdings Limited 3.Location of the company of the public tender offeror: 10F., No.97, Sec. 2, Dunhua S. Rd., Da'an Dist., Taipei City, Taiwan(R.O.C.) 4.Business Registration Certificate number of the public tender offeror: 27928328 5.Name of the public company whose securities are to be acquired: Genuine C&C INC. 6.Type of securities to be acquired:Common shares 7.Volume of the securities to be acquired:39,784,725 shares(”Planned Maximum Amount”) 8.Expected price of the securities to be acquired:NT$14.5 9.Scheduled period of the public tender offer: The tender offer period starts from March 3, 2015(”TO Starting Date”) to April 8, 2015(”TO Ending Date”). However the tender offeror may report to the FSC and make a public announcement of an extension of the public tender offer period according to the relevant regulations and such extension shall not exceed 30 days. Time to accept tender is every business day from 9:00AM to 3:30PM during the tender offer period. 10.Purpose of the public tender offer: Through vertical integrating and the combination of company resources, human resources, technique, B2B ecommerce platform and combination benefits to improve both competitiveness 11.Conditions of the public tender offer: I.Tender Offer Period: Starts from March 3, 2015 (”TO Starting Date”) to April 8, 2015 (”TO Ending Date”). However the tender offeror may report to the FSC and make a public announcement of an extension of the public tender offer period according to the relevant regulations. Accept tender is every business day from 9:00AM to 3:30PM during the tender offer period. II.The planned maximum and minimum number of shares: The tender offer seeks to acquire 39,784,725 shares, representing approximately 50% of the total Genuine C&C INC. shares. The Tender Offer will complete if the minimum acquired amount 7,956,945 shares is satisfied (representing approximately 10% of the total Genuine C&C INC. shares). Upon the tendor offer conditions are satisfied and require regulatory approvals, the company will purchase 50% Target shares the most,if the percentage of total number of tendered shares exceeds 50%, the shares will be purchased on a pro-rata basis. III.The consideration of tender offer: Cash consideration of NT$14.5 per share. Offerees shall bear securities transaction tax, wire transfer fees, or check postage fees, and other processing fees. If there is any additional fees to be born by the offerees, the render offeror will make announcement according to the laws. IV.Tender offer consideration settlement date: Upon the conditions of the tender offer is met, the settlement date of the tender offer is the 5th business day after the ending date of the tender offer. VI.Other FSC or other regulator approval or filing required for this tender offer: (I)According to the Securities Transaction Law Article and Regulations Governing Public Tender Offers for Securities of Public Companies, the announcement and the filings to SFB is required. The company has announced and the filed to SFB on March, 3, 2015. (II)The company seeks to acquire 39,784,725 shares, add with the shares held through WPI Group, which has exceeded one-third of Genuine C&C INC. total shares. This condition meet the definition of merger used in this law. This case has been submitted to Fair Trade Commission on March 2, 2015 for approval. As of the date of filing of the tender offer (March 2, 2015), the approval has not been prohibited by Fair Trade Commission. VI.Once the Public Tender Offer's conditions have been satisfied, tendering shareholders cannot withdraw their participation. VII.Other tender offer conditions please refer to the tender offer prospectus. Website for inquiring tender offer prospectus: (I)TWSE:http://mops.twse.com.tw/mops/web/t162sb01 (II)KGI Securities Co., Ltd.:http://www.kgieworld.com.tw 12.Name of the appointed institution:KGI Securities Co., Ltd. 13.Location of the appointed institution: 3F., No.700, Mingshui Rd., Zhongshan Dist.,Taipei City, Taiwan (R.O.C.) 14.Any stipulation that securities will continue to be purchased even after the number of acquired offeree securities has reached a certain predetermined volume or percentage, or any other purchase conditions: The tender offer seeks to acquire 39,784,725 shares, representing approximately 50% of the total Genuine C&C INC. shares. The Tender Offer will complete if the minimum acquired amount 7,956,945 shares is satisfied (representing approximately 10% of the total Genuine C&C INC. shares). 15.Manner of handling situation when the number of acquired offeree securities falls short of, or exceeds, a predetermined purchase volume: I.If the minimum acquired amount is not satisfied or required regulatory approvals are not obtained, the tender offer will be unsuccessful and will be withdrawn. KGI Securities Co., Ltd. will return the tendered shares from the ”KGI Securities Co., Ltd. Public Tender Offer Account” (Account number: (9203)059600-8) II.If the percentage of total number of tendered shares exceeds 50%, the shares that exceed 50% will be returned on a pro-rata basis. If the tendered shares are less than 1,000 shares(including 1,000 shares), all of tendered shares will be purchased.If the tendered shares are more than 1,000 shares, the offeror promises to buy 1,000 shares. The rest of the tendered shares will be purchased on a pro-rata basis in multiples of 1,000 shares. 16.Does the matter involve the Ministry of Economic Affairs’ Investment Commission? (applicable when overseas Chinese or foreign nationals purchase securities offered by a public company from the Republic of China;if so, please specify one of the following concerning the case: “submitted, not yet approved” or “approved”):N/A 17.Does the matter involve the Executive Yuan’s Fair Trade Commission (enterprise combination; if so, please specify one of the following concerning the case: “submitted, not yet approved” or “approved”): This case has been submitted to Fair Trade Commission on March 2, 2015 for approval. As of the date of filing of the tender offer (March 2, 2015), the approval has not been prohibited by Fair Trade Commission. 18.If the public tender offer must be approved by or reported to other competent authorities before it can take effect, has an attorney reviewed the reporting documents and attached a legal opinion that carries legal weight? Is it clearly stated that the offeror shall be liable for damages to the offeree in the event another competent authority does not approve the public tender offer, suspends its validity, or voids its approval? Where the public tender offer entails cash purchase, provide a document explaining the origin of the funds, and any evidentiary documents(Please disclose the context of legal opinion in the column of “any other matters that need to be specified by the SFB”.): The application has been reviewed by the attorney who has issued legal opinion. 19.Where the public tender offer entails cash purchase, provide a document explaining the origin of the funds, and any evidentiary documents: The consideration of the tender offer is NT$14.5 per share, and the total transaction amount is NT$576.879 million. The Origin of the funds is working capital of the company. 20.Where the aforementioned funds have been obtained via loan, provide a document with the details of the loan, any evidentiary documents, and the repayment schedule:N/A 21.Where the public tender offer entails purchase through the pledge of negotiable securities pursuant to the provisions of the Regulations Governing Tender Offers for Purchase of the Securities of a Public Company, provide the names and types of said securities, their average prices for the previous three months, and the closing prices, time of acquisition, cost of acquisition on the day prior to filing of the report, the factors affecting calculation of the price, and factors affecting determination of the price:N/A 22.Any other matters that need to be specified by the SFB: Other tender offer conditions please refer to the tender offer prospectus. Legal opinion please refer to TWSE website.