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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of: February, 2009
Commission File Number: 001-31583
NAM TAI ELECTRONICS, INC.
(Translation of registrants name into English)
Unit C, 17 Floor Edificio Comercial Rodrigues
599 da Avenida da,
Praia Grande, Macao
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover
of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): x
Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934. Yes o No x
If Yes is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-_______________.
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NEWS RELEASE |
Investor Contact: Anthony Chan
E-MAIL: shareholder@namtai.com
Unit C, 17/F, Edificio Comercial Rodrigues
WEB: www.namtai.com
599 da Avenida da Praia Grande, Macao, China
TEL: (853) 2835 6333 FAX: (853) 2835 6262
NAM TAI ELECTRONICS, INC.
Offer to Privatize its Hong Kong Stock Exchange-listed subsidiary
MACAO, PRC February 24, 2009 Nam Tai Electronics, Inc. (Nam Tai or the Company) (NYSE
Symbol: NTE) is pleased to announce its intention to seek to privatize Nam Tai Electronic &
Electrical Products Limited (NTEEP), its Hong Kong Stock Exchange-listed subsidiary (Stock Code:
2633), in which it holds 74.88% of the issued share capital, by way of a voluntary conditional
general cash offer (the Offer). Completion of the Offer and the resulting privatization of NTEEP
are conditional upon Nam Tai receiving acceptances and/or purchases, after publication of the
initial composite offer document, totaling at least 90% of the Offer Shares (meaning all shares
other than those owned by Nam Tai and parties acting in concert with it). If that condition is
satisfied, Nam Tai intends to exercise compulsory acquisition rights to acquire any remaining NTEEP
shares that it did not acquire in accordance with the Offer and then withdraw the listing of NTEEP
from the Stock Exchange of Hong Kong. It is expected that the results of Offer will be known and
released around April 2009.
The NTEEP price per share that Nam Tai is offering is US$0.19 (i.e. HK$1.50) per share with a total
consideration of approximately US$43 million based on the total number of outstanding shares of
NTEEP that the Company does not already own. Nam Tai plans to finance the proposed transaction with
its internal resources.
Nam Tai was able to achieve a more simplified corporate structure in December 2007, when it
successfully completed a reorganization of its group structures involving NTEEP and another of its
subsidiaries, J.I.C. Technology Company Limited (JIC), which was also listed on the Hong Kong
Stock Exchange. Thereafter, in March 2008, Nam Tai sold its entire equity interest in JIC to an
independent third party for cash of approximately $51 million, which resulted in a gain on disposal
of JIC of approximately $20 million.
Nam Tai believes that the proposed privatization, if successful, will enable the Company to
simplify its group structure further, allow the reduction of aggregate and consolidated operating
costs, eliminate actual or perceived conflicts of interest, and reduce administration time and
costs and regulatory burdens of maintaining the listing status of a subsidiary having
publicly-traded securities.
Page 1
For more information regarding the proposed privatization, please refer to the accompanying joint
announcement of Nam Tai and NTEEP, which was published in Hong Kong on February 24, 2009 or visit
the website of NTEEP at www.namtaieep.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding the proposed privatization
proposal of Nam Tai of its Hong Kong Exchange-listed subsidiary, NTEEP, approximately 75 percent of
whose outstanding share capital Nam Tai owned on February 24, 2009, future benefits to Nam Tai
anticipated from the proposed transaction, the impact of such transaction on Nam Tais operations
and other statements about Nam Tai and NTEEP. The future expectations, beliefs, goals, plans of Nam
Tais management or prospects from the privatization transaction are based on current expectations,
estimates, forecasts and projections about the Company and NTEEP. These statements constitute
forward- looking statements within the meaning of the U.S. Private Securities Litigation Reform Act
of 1995. Words such as expects, anticipates, estimates, intends, plans, believes,
seeks, will, should or would or variations of such words and similar expressions are
intended to identify such forward-looking statements, which are not statements of historical facts.
These forward-looking statements are not guarantees of future performance or success of the
proposed privatization and involve risks, uncertainties and assumptions, the accuracy and impact of
which, are difficult to assess. Therefore, actual outcomes and results may differ materially from
what is expressed or forecasted in such forward-looking statements. Actual results could differ
materially because of the following factors, among others: Satisfaction of the conditions for the
successful completion of the privatization, which may involve foreseen and unforeseen difficulties;
the failure to obtain the tenders by at least 90 percent of the holders of NTEEPs publicly traded
shares pursuant to the Offer for the privatization; the failure to obtain approvals of the
transaction by the overseeing court, which approvals may be delayed or unobtainable; expenses
incurred in connection with the Offer regardless of its success; and the ability of NTEEP to
continue its businesses before the proposal and after the successful or unsuccessful completion of
the transaction.
For further information regarding risks and uncertainties associated with Nam Tais business,
please refer to the Operating and Financial Review and Prospects and Risk Factors sections of
Nam Tais filings with the U.S. Securities & Exchange Commission (SEC), particularly, but not
limited to, its Annual Report on Form 20-F for the year ended December 31, 2007 filed with the SEC
on March 17, 2008, copies of which may be obtained from Nam Tais website at http://www.namtai.com
or from the SECs EDGAR website at www.sec.gov.
All information in this press release is as of February 24, 2009 in Macao, Special Administrative
Region of the Peoples Republic of China. Nam Tai does not undertake any duty, and should not be
expected, to update any forward-looking statement to conform the statement to actual results or
changes in Nam Tais expectations.
Page 2
ABOUT NAM TAI ELECTRONICS, INC.
We are an electronics manufacturing and design services provider to a select group of the worlds
leading OEMs of telecommunications and consumer electronic products. Through our electronics
manufacturing services operations, we manufacture electronic components and subassemblies,
including LCD panels, LCD modules, RF modules, DAB modules, FPC subassemblies and image-sensor
modules and PCBAs for headsets containing Bluetooth® wireless technology.1 These
components are used in numerous electronic products, including mobile phones, laptop computers,
digital cameras, electronic toys, handheld video game devices, and entertainment devices. We also
manufacture finished products, including mobile phone accessories, home entertainment products and
educational products. We assist our OEM customers in the design and development of their products
and furnish full turnkey manufacturing services that utilize advanced manufacturing processes and
production technologies.
Nam Tais operations are conducted by its subsidiary, Nam Tai Electronic & Electrical Products
Limited (NTEEP), a Hong Kong Stock Exchange-listed company, in which Nam Tai owns approximately
74.88% of the outstanding share capital. In addition to reports that Nam Tai files with the SEC,
which may accessed through the SECs EDGAR database at http://www.sec.gov, interested investors
may review the website of The Stock Exchange of Hong Kong at www.hkex.com.hk to obtain information
that NTEEP is required to file under applicable rules of the Hong Kong Stock Exchange. The stock
code of NTEEP on The Stock Exchange of Hong Kong is 2633. Investors are reminded to exercise
caution when assessing information from the Hong Kong Stock Exchange and not to deal with the
shares of Nam Tai based solely upon reliance on such information.
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1 |
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The Bluetooth® word mark and logos are owned by the Bluetooth SIG,
Inc. and any use of such marks by Nam Tai is under license. |
Page 3
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no
responsibility for the contents of this announcement, make no representation as to its accuracy
or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising
from or in reliance upon the whole or any part of the contents of this announcement.
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Nam Tai Electronics, Inc.
(Incorporated in the British Virgin Islands
with limited liability)
(NYSE stock code: NTE)
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Nam Tai Electronic & Electrical Products Limited
(Incorporated in the Cayman Islands
with limited liability)
(Stock code: 2633) |
JOINT ANNOUNCEMENT
PROPOSED PRIVATIZATION OF
NAM TAI ELECTRONIC & ELECTRICAL PRODUCTS LIMITED
BY NAM TAI ELECTRONICS, INC.
BY WAY OF A VOLUNTARY CONDITIONAL GENERAL CASH OFFER
BY YU MING INVESTMENT MANAGEMENT LIMITED ON BEHALF OF
NAM TAI ELECTRONICS, INC.
FOR ALL ISSUED SHARE IN
NAM TAI ELECTRONIC & ELECTRICAL PRODUCTS LIMITED
(OTHER THAN THOSE SHARES ALREADY OWNED BY
NAM TAI ELECTRONICS, INC. AND
PARTIES ACTING IN CONCERT WITH IT)
AND
RESUMPTION OF TRADING
FINANCIAL ADVISER TO NAM TAI ELECTRONICS, INC.
The boards of directors of NTEI and NTEEP are pleased to announce that on
20th February, 2009, NTEI informed the NTEEP Board of its intention
to make a voluntary conditional general cash offer to acquire all Shares other
than those owned by NTEI and parties acting in concert with it at a price of
HK$1.50 per Share, representing a premium of approximately 163.2% over the
closing price of HK$0.57 per Share as quoted on the Stock Exchange on
20th February, 2009, being the last trading day prior to the
suspension of trading in the Shares. The offer price for the Offer Shares is
final and not subject to revision.
The Offer is subject to the condition that NTEI receives acceptances and/or
purchases made after the posting of the initial composite offer document
totalling at least 90% of the Offer Shares (meaning all Shares other than
those owned by NTEI and parties acting in concert with it). After the Offer
becomes unconditional, NTEI intends to exercise compulsory acquisition rights
to which it is entitled under Rule 2.11 of the Takeovers Code and Section 88
of the Companies Law to acquire the remaining Shares, and following which,
NTEI intends to withdraw the listing of NTEEP from the Stock Exchange. The
first closing date of the Offer will fall on the 21st day from the
date on which the initial composite offer document is posted.
Page 4
Composite Offer Document
A composite offer document will be despatched to the Independent Shareholders
in due course and in compliance with the requirements of the Takeovers Code.
The composite offer document will include, among others, the full terms and
conditions of the Offer, the form of acceptance and transfer of Shares, the
expected timetable, the advice from the independent financial adviser and the
recommendation of the Independent Board Committee in respect of the Offer.
Suspension and Resumption of Trading
Trading in the Shares was suspended at the request of NTEEP from 2:30 p.m. on
20th February, 2009. Application has been made to the Stock
Exchange for the resumption of trading in the Shares with effect from 9:30
a.m. on 24th February, 2009.
Warning to Independent Shareholders
Shareholders and potential investors in NTEEP should be aware that the
implementation of the Offer is subject to the condition set out below being
fulfilled or waived, as applicable, and consequently the Offer may or may not
become effective. They are advised to exercise caution when dealing in the
Shares.
PRINCIPAL TERMS OF THE OFFER
On 20th February, 2009, NTEI informed the NTEEP Board that Yu Ming, on behalf of NTEI
(the controlling shareholder of NTEEP currently holding approximately 74.88% of the total issued
share capital of NTEEP), will make a voluntary conditional general cash offer for the Offer
Shares, being all the Shares other than those owned by NTEI and parties acting in concert with
it.
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For each Offer Share
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HK$1.50 in cash |
The Offer Shares to be acquired under the Offer shall be fully paid and free from all liens,
charges, encumbrances, rights of pre-emption and any other third party rights of any nature
together with all rights attached to them as at the Announcement Date or subsequently becoming
attached to them, including all dividends and distributions declared, made or paid on or after
the Announcement Date.
The offer price of HK$1.50 represents:
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a premium of approximately 163.2% over the closing price of HK$0.57 per Share as
quoted on the Stock Exchange on 20th February, 2009 (being the last trading
day prior to the suspension of trading in the Shares); |
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(ii) |
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a premium of approximately 158.6% over the average closing price of HK$0.58 per
Share for the 10 trading days up to and including 20th February, 2009; |
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(iii) |
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a premium of approximately 123.5% over the average closing price of HK$0.67 per Share for
the 30 trading days up to and including 20th February, 2009; and |
Page 5
(iv) |
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a premium of approximately 340.9% to the unaudited consolidated net asset value per Share
of approximately HK$0.44 as at 31st December, 2008. |
The Offer is conditional upon NTEI having received acceptances and/or purchased totalling at
least 90% of the Offer Shares. After the Offer becomes unconditional, NTEI intends to exercise
the compulsory acquisition rights to which it is entitled under Rule 2.11 of the Takeovers Code
and Section 88 of the Companies Law to acquire the remaining Shares, and following which, NTEI
intends to withdraw the listing of NTEEP from the Stock Exchange. The first closing date of the
Offer will fall on the 21st day from the date on which the initial composite offer
document is posted.
NTEI will not revise the offer price for the Offer Shares, and the above offer price is
final.
HIGHEST AND LOWEST SHARE PRICES
The highest and lowest closing prices of the Shares as quoted on the Stock Exchange during the
six-month period preceding the last trading day prior to the suspension of trading in the Shares
were HK$1.2 on 26th August, 2008 and HK$0.38 on 29th and 30th
October, 2008 respectively.
VALUE OF THE OFFER
On the basis of the offer price of HK$1.50 per Offer Share and 881,670,588 Shares in issue, of
which 221,455,118 were Offer Shares as at the Announcement Date, the maximum amount of cash
consideration required to effect the proposal will be approximately HK$332.2 million. The Offer
values the entire issued share capital of NTEEP at approximately HK$1,322.5 million.
CONFIRMATION OF FINANCIAL RESOURCES
NTEI will use its internal financial resources to implement the Offer. Yu Ming is satisfied that
sufficient financial resources are available to NTEI for the full implementation of the Offer.
PAYMENT
Payment in cash in respect of the acceptances of the Offer will be made within 10 days of the
later of the date the Offer becomes unconditional and the date NTEI receives a duly completed
form of acceptance and transfer of Shares.
STAMP DUTY
Sellers ad valorem stamp duty for the Shares registered with the Hong Kong branch register
arising in connection with acceptances of the Offer will be payable by each Shareholder at the
rate of HK$1 for every HK$1,000 or part thereof of the consideration payable by NTEI for such
Shareholders Shares and will be deducted from the cash amount due to such Shareholder under the
Offer.
Page 6
SHAREHOLDING STRUCTURE
As at the Announcement Date, the shareholding of NTEEP is as follows:-
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% of the |
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Number of |
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total issued |
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Shares owned |
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shares |
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NTEI |
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660,215,470 |
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74.88 |
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Independent Shareholders |
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221,455,118 |
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25.12 |
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Total |
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881,670,588 |
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100.00 |
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Note:
As at the Announcement Date, as far as is known to NTEI, no parties acting in concert with it held
any Shares.
As at the Announcement Date, (i) NTEEP does not have other class of securities (other than the
Shares), outstanding options, derivatives, warrants or other securities which are convertible or
exchangeable into Offer Shares, and (ii) NTEI and the parties acting in concert with it do not
own any securities in NTEEP other than those disclosed above.
INFORMATION ON NTEI
NTEI is a company incorporated under the laws of the British Virgin Islands with limited
liability. As the controlling shareholder of NTEEP, NTEI is a holding company of an electronics
manufacturing and design services provider with a worldwide coverage of customers. Listed on the
NYSE, NTEI had a market capitalization of approximately US$141.6 million (equivalent to
approximately HK$1,104.5 million) as at 20th February, 2009. The audited net profit of
NTEI for the financial year ended 31st December, 2007 and the unaudited net profit of
NTEI for the financial year 31st December, 2008 were approximately US$69.5 million
(equivalent to approximately HK$542.1 million) and approximately US$30.6 million (equivalent to
approximately HK$238.7 million) respectively. The unaudited net asset value of NTEI was
approximately US$322.3 million (equivalent to approximately HK$2,513.9 million) as at
31st December, 2008 (all figures prepared in accordance with generally accepted
accounting principles in the United States).
NTEI and parties acting in concert with it have not dealt in the Shares in the six-month period
up to the Announcement Date, and have not entered into any contracts in relation to the
outstanding derivatives in respect of securities in NTEEP nor borrowed or lent any relevant
securities in NTEEP.
INFORMATION ON NTEEP
NTEEP is a company incorporated under the laws of the Cayman Islands with limited liability.
Listed on the Stock Exchange, NTEEP is a holding company of an electronics manufacturing and
design services provider to a select group of the worlds leading original equipment
manufacturers of telecommunications and consumer electronics products.
NTEEP had a market capitalization of approximately US$64.4 million (equivalent to approximately
HK$502.6 million) as at 20th February, 2009. The audited net profit of the NTEEP Group
for the financial year ended 31st December, 2007 was approximately US$60.7 million
(equivalent to approximately HK$473.5 million), and the audited net loss of the NTEEP Group for
the financial year ended 31st December, 2008 was approximately US $121.9 million
(equivalent to approximately HK$950.8 million). The audited net asset value of the NTEEP Group
was approximately US$49.4 million (equivalent to approximately HK$385.3 million) as
at 31st December, 2008 (all figures prepared in accordance with Hong Kong Financial
Reporting Standards).
Page 7
INTENTION OF NTEI
If the Offer becomes unconditional, NTEI will exercise the compulsory acquisition rights to which
it is entitled under Rule 2.11 of the Takeovers Code and Section 88 of the Companies Law to
acquire the Offer Shares. NTEI Board intends to subsequently withdraw the listing status of the
NTEEP Shares on the Stock Exchange pursuant to Rule 6.15 of the Listing Rules, but has no
intention to change the existing business of the NTEEP Group. There is no intention of NTEI to
introduce significant changes to the existing management of the NTEEP Group.
According to Rule 15.6 of the Takeovers Code, to exercise the power of compulsory acquisition to
acquire the Offer Shares not tendered under the Offer, the Offer may not remain open for
acceptance for more than four months from the posting of the initial composite offer document,
unless the NTEI has by that time become entitled to exercise the powers of compulsory acquisition
available to it under the Companies Law.
REASONS FOR NTEI TO PRIVATIZE NTEEP
The price of the Shares from 5th December, 2005 (being the day on which the last
voluntary conditional general cash offer made by NTEI lapsed) to the Announcement Date was down
by 61.2% from HK$1.47 to HK$0.57 per share. The performance lagged far behind Hang Seng Index,
which edged down by 16.2% during the same period. The price weakness of the Shares hampers the
fund raising ability of NTEEP. In this regard, one of the main purposes of maintaining NTEEP as a
listed company in Hong Kong is compromised. The privatization will enable NTEI simplify its
corporate structure, reduce administration time and costs and save significant resources of NTEI
on listing compliance and investor relations in Hong Kong.
BENEFITS OF THE OFFER FOR THE INDEPENDENT SHAREHOLDERS
The Offer gives the Independent Shareholders an opportunity to realize their investments in NTEEP
at a price significantly above both the current market price and its net asset value per share.
DEALING DISCLOSURE
The respective associates of NTEI and NTEEP are reminded to disclose their dealings in the
securities of NTEEP under Rule 22 of the Takeovers Code.
Stockbrokers, banks and others who deal in the Shares on behalf of clients have a general duty to
ensure, so far as they are able, that those clients are aware of the disclosure obligations
attaching to associates and other persons under Rules 22 of the Takeovers Code and that those
clients are willing to comply with them. Principal traders and dealers who deal directly with
investors should, in appropriate cases, likewise draw attention to the relevant rules under the
Takeovers Code. However, this does not apply when the total value of dealings (excluding stamp
duty and commission) in any relevant security (which is in this case the Share) undertaken for a
client during any 7 day period is less than HK$1 million. This dispensation does not alter the
obligation of principals, associates and other persons themselves to initiate disclosure of their
own dealings, whatever total value is involved.
Page 8
Intermediaries are expected to co-operate with the Executive under the Takeovers Code in its
dealings enquires. Therefore, those who deal in the relevant securities (and in this case, the
Shares) should appreciate that stockbrokers and other intermediaries will supply the Executive
with relevant information as to those dealings, including identities of clients, as part of that
cooperation.
GENERAL
NTEEP has established the Independent Board Committee, comprising all independent non- executive
directors of NTEEP to advise the Independent Shareholders, and an independent financial adviser
will be appointed to advise the Independent Board Committee in respect of the Offer. A further
announcement will be made upon the appointment of the independent financial adviser.
Mr. Koo Ming Kown, a non-executive director of NTEEP, is also an independent non-executive
director of NTEI, a party acting in concert with NTEI. Therefore, he is considered not
independent of the NTEEP, and will not become a member of the Independent Board Committee.
A composite offer document will be despatched to the Independent Shareholders in due course and
in compliance with the requirements of the Takeovers Code. The composite offer document will
include, among others, the full terms and conditions of the Offer, the form of acceptance and
transfer of Shares, the expected timetable, the advice from the independent financial adviser and
the recommendation of the Independent Board Committee in respect of the Offer.
SUSPENSION AND RESUMPTION OF TRADING
Trading in the Shares was suspended at the request of NTEEP from 2:30 p.m. on 20th
February, 2009. Application has been made to the Stock Exchange for the resumption of trading in
the Shares with effect from 9:30 a.m. on 24th February, 2009.
WARNING
Shareholders and potential investors in NTEEP should be aware that the implementation of the Offer
is subject to the condition set out above being fulfilled or waived, as applicable, and
consequently the Offer may or may not become effective. They are advised to exercise caution when
dealing in the Shares.
DEFINITIONS
In this announcement, unless the context otherwise requires, the following expressions have the
following meanings:
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acting in concert
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shall have the meaning set out in the Takeovers Code |
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Announcement Date
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24th February, 2009, being the date of this announcement |
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associate(s)
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shall have the meaning set out in the Takeovers Code |
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Board
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board of directors |
Page 9
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Companies Law
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the Companies Law, Cap. 22 (Law 3 of 1961, as consolidated and
revised) of the Cayman Islands |
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Executive
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the executive director of the corporate finance division of the
Securities and Futures Commission of Hong Kong or any of his
delegates |
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Hong Kong
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the Hong Kong Special Administrative Region of the Peoples
Republic of China |
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Independent
Board Committee
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the independent board committee of NTEEP comprising Mr. Thaddeus Thomas Beczak, Mr. Cham Yau Nam,
Mr. Chan Tit Hee, Charles, Mr. Choi Man Chau, Michael, Mr. Leung Wai Hung and Mr. Roger Simon
Pyrke, to advise the Independent Shareholders in respect of the Offer |
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Independent
Shareholders
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Shareholders, other than NTEI and parties acting in concert with it |
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Listing Rules
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The Rules Governing the Listing of Securities on the Stock
Exchange |
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NTEEP
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Nam Tai Electronic & Electrical Products Limited, a company
incorporated in the Cayman Islands with limited liability and the
shares of which are listed on the main board of the Stock Exchange
with a designated stock code of 2633 |
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NTEEP Group
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NTEEP and its subsidiaries |
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NTEI
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Nam Tai Electronics, Inc, a company incorporated in the British
Virgin Islands with limited liabilities and the shares of which are
listed on the main board of the NYSE |
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NYSE
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New York Stock Exchange |
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Offer
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the voluntary conditional general cash offer for all the Shares other
than those owned by NTEI and parties acting in concert with it at
HK$1.50 per Share |
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Offer Share(s)
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issued Shares other than those already owned by NTEI and parties
acting in concert with it |
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Share(s)
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existing ordinary share(s) of HK$0.01 each in the issued share
capital of NTEEP |
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Shareholder(s)
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holder(s) of the Shares |
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Stock Exchange
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The Stock Exchange of Hong Kong Limited |
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Takeovers Code
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the Hong Kong Code on Takeovers and Mergers |
Page 10
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Yu Ming
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Yu Ming Investment Management Limited, a corporation licensed
under the Securities and Futures Ordinance to carry out regulated
activities of type 1 (dealing in securities), type 4 (advising on
securities), type 6 (advising on corporate finance) and type 9
(asset management), and a company incorporated in Hong Kong with
limited liability |
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HK$
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Hong Kong dollars, the lawful currency of Hong Kong |
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US$
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United States dollars, the lawful currency of the United States |
As at the Announcement Date, the non-executive director of NTEEP is Mr. KOO Ming Kown, and the
independent non-executive directors of NTEEP are Mr. Thaddeus Thomas BECZAK, Mr. CHAM Yau Nam, Mr.
CHAN Tit Hee, Charles, Mr. CHOI Man Chau, Michael, Mr. LEUNG Wai Hung and Mr. Roger Simon PYRKE.
The directors of NTEEP jointly and severally accept full responsibility for the accuracy of the
information contained in this announcement relating to NTEEP and confirm, having made all
reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement
relating to NTEEP have been arrived at after due and careful consideration and there are no other
facts not contained in this announcement, the omission of which would make any statement in this
announcement misleading.
The directors of NTEI jointly and severally accept full responsibility for the accuracy of
information contained in this announcement (other than those relating to NTEEP) and confirm,
having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in
this announcement (other than those relating to NTEEP) have been arrived at after due and careful
consideration and there are no other facts not contained in this announcement the omission of
which would make any statement in the announcement misleading.
Exchange rate : US$1.00 = HK$7.80
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By order of the board of
NAM TAI ELECTRONICS, INC.
Koo Ming Kown
Chairman
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By order of the board of
NAM TAI ELECTRONIC & ELECTRICAL PRODUCTS LIMITED
Chan Bo Shan
Company Secretary |
Hong Kong, 24th February, 2009
Page 11
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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NAM TAI ELECTRONICS, INC.
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Date February 24, 2009 |
By: |
/s/ Chan Sze Chung
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Name: |
Chan Sze Chung (Anthony Chan) |
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Title: |
Chief Financial Officer |
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