WPG hold a press conference to convey Board of Directors resolved to conduct capital reduction
1.Date of occurrence of the event:2018/04/24
2.Company name:WPG Holdings Limited
3.Relationship to the Company (please enter ”head office” or
4.Reciprocal shareholding ratios:N/A
5.Cause of occurrence:WPG hold a press conference to convey Board of Directors
resolved to conduct capital reduction.
7.Any other matters that need to be specified:News Release：
WPG Holdings Limited (WPG, TWSE:3702) today announces its Board of Directors
resolved capital reduction with the goal of improving its capital structure
and enhancing return on equity. Shareholders will receive NT$0.8 for each of
their shares held, equivalent to 8% capital reduction. Board of Directors
also resolved distribution of NT$2.4 cash dividend per share for 2017 profits
of NT$4.1 earnings per share. If the annual general meeting approved both
resolutions, shareholders will receive NT$3.2 per share this year.
The current paid-in capital is NT$18,250,617,750 and total outstanding shares
is 1,825,061,775 shares. After reduce capital by NT$1,460,049,420 and cancel
146,004,942 outstanding shares, equivalent to 8% capital reduction, the
paid-in capital will be NT$16,790,568,330 and total outstanding shares will
be 1,679,056,833 shares.
The proposal shall be approved by the 2018 annual general meeting and the
competent authority, the chairman will be authorized to set record date of
capital reduction and related issues according to Company Act and related
WPG Holdings Limited was founded on November 2005, the integration synergies
has driven revenue and profit growth, improved the efficiency of working
capital management and constant growth dividend. In 2018, in addition to
retaining part of funds to expand of the business and move ahead in order to
stay leading position, also refund part of the capital to shareholders so
that shareholders can effectively use the funds and WPG can improve its
capital structure and enhance return on equity.