Announce the contents of the press release of the
company's major information press conference
Date of events
2022/06/06
To which item it meets
paragraph 51
Statement
1.Date of occurrence of the event:2022/06/06
2.Company name:ZENG HSING INDUSTRIAL CO., LTD.
3.Relationship to the Company (please enter "head office" or
"subsidiaries"):Head office
4.Reciprocal shareholding ratios:N/A
5.Cause of occurrence:
ZENG HSING INDUSTRIAL CO., LTD.（"ZENG HSING", ticker
1558）held a board meeting today (June 6, 2022) to
acquire 21.56% of the issued and outstanding ordinary
shares of Turvo International Co., Ltd.（" Turvo",
ticker 2233）through Tender Offer.
The acquisition price is NT$130 per share（Turvo's board
of directors approved a cash dividend of NT$ 3 per share
and a cash dividend of NT$ 2.4 per share from the capital
reserve on May 5, 2022, totaling NT$ 5.4 per share. The
acquisition price per share will be adjusted if the
delivery date is later than Turvo's last ex-dividend
transfer date.）。
The maximum number of shares to be acquired is
13,000,000 shares (21.56%of all shares of Turvo),
with a minimum of 3,015,000 shares (5 % of all shares
of Turvo).This Tender Offer will be a success if the
acquisition ratio exceeds the minimum number of
shares. Tender Offer period is from June 8 to July
6, 2022.
The company has been focusing on the research and
development, manufacturing and sales of sewing
machines and other fields for a long time. In the
face of changes in the external environment such as
the international situation and international trade,
the company plans to diversify its investment
activities to develop into a comprehensive
professional precision manufacturing enterprise.
Turvo's main business is machining, manufacturing,
and trading precise metal parts, which are mostly
used in automobiles, bicycles, and other
applications. Turvo's profits and performance have
been steadily increasing.
This investment aims to increase cooperation between
the two parties in areas such as production
technology, material application, product
application, core capabilities, resource integration
, and other strategic cooperation, in order to
improve both parties' return on assets and
shareholders' equity.
6.Countermeasures:N/A
7.Any other matters that need to be specified:
The aforementioned English translation is for
reference only, please refer the Chinese
announcement of the Company.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Zeng Hsing Industrial Co. Ltd. published this content on 06 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 June 2022 13:31:00 UTC.
ZENG HSING INDUSTRIAL CO., LTD. is a Taiwan-based company mainly engaged in the manufacture and distribution of sewing machines. The Company mainly operates through three business segments, including Taiwan segment, China segment and Vietnam segment. The Companyâs products include household sewing machines, household vacuum cleaners and relevant components, as well as water purifiers, among others. The Company also provides technical training services for domestic and overseas clients. The Company distributes its products within domestic market and to overseas markets.
ZENG HSING INDUSTRIAL CO., LTD. 
