WPG (TWSE:3702) Announced Board of Directors Resolved Capital Reduction::WPG Holdings

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WPG (TWSE:3702) Announced Board of Directors Resolved Capital Reduction

 2018-04-24

WPG (TWSE:3702) Announced Board of Directors Resolved Capital Reduction

 

2018/4/24

 

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 laws.

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.

 

About WPG

\WPG is the largest distributor of semiconductor components in Asia, its current capitalization is NT$18.25 billion; 2017 consolidated revenues and net income was NT$532.5 billion and NT$7.31 billion respectively. WPG serves as a franchise partner for nearly 250 world-wide suppliers. With 5,100 staff in about 105 sales offices around the world including Hong Kong, China, Singapore, Malaysia, Thailand, Philippines, India, Korea and North America. WPG is dedicated to an increasingly comprehensive coverage of the semiconductor arena, carrying complete product line, providing high value-added service and e-commerce platform to maximize its economies of scale.

 

 

IR contacts:Cliff Yuan/ Zoe Peng

Tel:886-2-7712-5268 / 886-2-7712-5262

Email address:  ir@WPGholdings.com

Corporate website:  www.WPGholdings.com