Last checked at 7 Feb 2020 10:05
Subject: The Company to sign a strategic cooperation agreement with Yulon Motor Co., Ltd.
Date of events: 2020/02/07
Contents:
1.Date of occurrence of the event: 2020/02/07
2.Counterparty to the contract or commitment:
Yulon Motor Co., Ltd. ("Yulon")
3.Starting and ending dates (or rescission date) of the contract or commitment:
The strategic cooperation agreement will be effective upon approval by both parties' board of directors and will continue in effect until terminated by the parties.
4.Major content (not applicable where rescinded):
The Company (or its designated entity) to set up a joint venture with Hua-chuang Automobile Information Technical Center Co., Ltd. ("Haitec"), an entity within the Yulon group to develop automobile related business. The joint venture will be 51% held by the Company (or its designated entity) and 49% held by Haitec. The Company (or its designated entity) will make cash contribution to the joint venture in the amount of NTD7,944,000,000 and Haitec will make in-kind contribution (technologies and assets) to the joint venture in the amount of NTD7,632,000,000.
5.Restrictive covenants (not applicable where rescinded):
Non-compete and confidentiality obligations
6.Commitment (not applicable where rescinded):
The parties to negotiate and sign a joint venture agreement
7.Any other important agreement (not applicable where rescinded):
After signing the strategic cooperation agreement, the parties will set up a temporary office for the joint venture to launch the project
8.Effect on company finances and business (not applicable where rescinded):
Leveraging both parties' resources to Improve competitiveness
9.Concrete purpose/objective (not applicable where rescinded):
To develop automobile related business through the joint venture