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FIT to acquisition of Belkin by way of merge

21 Sep 2018 07:00

RNS Number : 5167B
Hon Hai Precision Industry Co Ld
21 September 2018
 

Subject: Close of The Foxconn Interconnect Technology Limited to acquisition of Belkin International, Inc. by way of merge

Date of events:2018/09/20

Contents:

1.Kind of merger/acquisition (e.g.merger, consolidation, spin-off

 ,acquisition, or receiving assignment of shares):acquisition

2.Date of occurrence of the event:2018/09/20

3.Names of companies participating in the merger (e.g.name of the

other company participating in the merger or consolidation, newly

established company in a spin-off, acquired company, or company

whose shares are taken assignment of):

Foxconn Interconnect Technology Limited

4.Counterparty (e.g.name of the other company participating in

the merger or consolidation, company taking assignment of the

spin-off, or counterparty to the acquisition or assignment of shares):

Belkin International, Inc.

5.Purpose/objective of the merger/acquisitionation:

Transformation and Industrial Integration

6.Anticipated benefits of the merger/acquisition:

Transformation and industrial integration through acquisition, and

obtaining talents, technological know-how, markets, and a reasonable

price in the long run, thereby increase the value for shareholders.

7.Effect of the merger or consolidation on net worth per share and

earnings per share:

After the acquisition, through integration of resources and expansion

of operational scale, a strategic benefit is expected to bring positive

effect to the book value and earnings per share in future.

8.Scheduled timetable for consummation:2018

9.Matters related to assumption by the existing company or new

company of rights and obligations of the extinguished (or spun-off)

company:Na

10.Basic information of companies participating in the merger:

Belkin International, Inc. is established in 1983, and its headquartered

in Playa Vista, California, mainly focuses on consumer electronics, smart

home technology, wireless communication products, charging or power supply products and accessories for smart phones and tablets.

11.Do the directors have any objection to the present transaction?:

The acquisition is closed on September 20, 2018 pursuant to the Merger Agreement , through the acquisition of 100% ownership of Belkin International, Inc. and its affiliates.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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