Today's Information

Provided by: CHINA FINEBLANKING TECHNOLOGY CO., LTD.
SEQ_NO 5 Date of announcement 2022/05/27 Time of announcement 15:13:17
Subject 
 Announced the Company has amended the commitments
made for listing on Taipei Exchange
Date of events 2022/05/27 To which item it meets paragraph 53
Statement 
1.Date of occurrence of the event:2022/05/27
2.Company name:
CHINA FINEBLANKING TECHNOLOGY CO., LTD. (CFTC)
3.Relationship to the Company (please enter "head office" or
  "subsidiaries"):Head office
4.Reciprocal shareholding ratios:NA
5.Cause of occurrence:
Upon being listed, the Company promised to amend articles below in the
Procedures for Acquisition or Disposal of Assets:
''The Company shall not waive the capital increase to China Fineblanking
Group Co., Ltd (hereinafter referred to as CFTC Group) and CFTC Precision
Sdn Bhd. in each of the future years; CFTC Group shall not waive the capital
increase to China Fineblanking International Co., Ltd (hereinafter referred
to as CFTC International) in each of the future years; CFTC International
shall not waive the capital increase to CFTC Precision (Jia-Xing) Limited
in each of the future years. If the Company in consideration of strategic
alliance or upon approval of the Taipei Exchange, has to waive the capital
increase in the companies listed above or dispose the companies listed
above, it may do so upon special resolution by the Company's Board of
Directors.'' Meanwhile, the amendments to said Procedure, if any, shall
be disclosed on the MOPS and reported to Taipei Exchange in writing.
In order to reduce operating cost, according to the replies specified in
official Letter OTC-Oversight No. 1100013867 on December 16, 2021, it agreed
to changes commitments made for listing on Taipei Exchange and agreed with
CFTC Precision Sdn Bhd. to process liquidation and cancellation. The Company
had already approved by the special resolution of the Board of Directors on
January 14, 2022, to amend the article content in "The Regulation for the
Acquisition or Disposition of Assets", awaiting for approval of 2022 annual
shareholders' meeting.
6.Countermeasures:
The Company has approved the amendment of ''The Regulation for Acquisition
or Disposition of Assets" by the annual shareholders' meeting resolution on
May 27, 2022, and the article amended as below:
''The Company shall not waive the capital increase to China Fineblanking
Group Co., Ltd (hereinafter referred to as CFTC Group) in each of the future
years; CFTC Group shall not waive the capital increase to China Fineblanking
International Co., Ltd (hereinafter referred to as CFTC International) in
each of the future years; CFTC International shall not waive the capital
increase to CFTC Precision (Jia-Xing) Limited in each of the future years.
If the Company in consideration of strategic alliance or upon approval of
the Taipei Exchange, has to waive the capital increase in the companies
listed above or dispose the companies listed above, it may do so upon
special resolution by the Company's Board of Directors.'' Meanwhile, the
amendments to said Procedure, if any, shall be disclosed on the MOPS and
reported to Taipei Exchange in writing.
7.Any other matters that need to be specified:None

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

China Fineblanking Technology Co. Ltd. published this content on 27 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2022 07:36:45 UTC.