AKAI OF JAPAN INVESTS HK$1,800,000 IN HONG KONG TO ACQUIRE KONG WAH.HONG KONG--(BUSINESS WIRE)--June 29, 1995--Semi-Tech (Global) Company Limited announces today that its subsidiary, Akai Electric Co., Ltd. of Japan ("Akai") has entered into agreements to acquire up to 81% of the total issued capital of Kong Wah Holdings Limited ("Kong Wah"), a Bermuda incorporated company listed on the Hong Kong Stock Exchange The Hong Kong Stock Exchange (Traditional Chinese: 香港交易所, also 港交所; abbreviated as HKEX; HKSE: 0388 ) is the stock exchange of Hong Kong. . Under the agreements, Akai is to subscribe 700,000,000 new shares at a price of HK$0.80 per share and contemporaneous to the subscription, Akai is to make a General Offer to all the shareholders of Kong Wah at an offer price of HK$1.20 per share for up to a total number of 1,082 million shares, as Prime Time Holdings Ltd. ("PT"), the current 60% controlling shareholder of Kong Wah has agreed to retain a 19% share interest after the completion of the transaction. Board control will pass to Akai. PT also agrees not to dispose of To determine the fate of; to exercise the power of control over; to fix the condition, application, employment, etc. of; to direct or assign for a use. See also: Dispose its remaining holding for a period of two years without Akai's consent. Commenting on this acquisition by Akai, Mr. James Henry James Henry is the name of:
Commenting on the same acquisition by Akai, Mr. T This article is about the actor. For the animated series, see Mister T (TV series). For other uses, see Mr. T (disambiguation). Mr. T (legally changed his name from Laurence Tureaud), (born on May 21 1952), is an iconic actor known for his roles as Sgt. "B. A. . Nakano, Senior Managing Director of Akai said: "Akai has known Kong Wah for many years. In fact, our staff collaborated with Kong Wah in color TV and audio projects. With our technological strength and our experience in quality control, Kong Wah will in fact benefit greatly from this transaction. Furthermore, we are also committing over HK$500 million to expand Kong Wah's capital base. Semi-Tech is a Bermuda corporation whose ordinary shares are listed on The Stock Exchange of Hong Kong Stock Exchange of Hong Kong (SEHK) Only stock exchange located in Hong Kong. Limited under the symbol 448. The ordinary shares of Semi-Tech are also traded in the over-the- counter market in the United States through a sponsored ADR Sponsored ADR An ADR which is issued in co-operation with the underlying foreign company whose equity shares will underly the ADR shares. With the corporation's sponsorship, the ADRs created in the issue usually afford their owners the same rights normally given to stockholders, program under the symbol SITGY. Semi-Tech owns a 55% share interest in Akai Electric Co., Ltd. and a 27% share interest in Sansui Electric Co., Ltd. Akai is a Japan public company whose shares are listed on the First Sections of the Tokyo Stock Exchange Tokyo Stock Exchange Main stock market of Japan, located in Tokyo. It opened in 1878 to provide a market for the trading of government bonds newly issued to former samurai. , the Osaka Securities Exchange Osaka Securities Exchange (OSE) Established after World War II, one of the three major securities markets in Japan. and the Nagoya Stock Exchange Nagoya Stock Exchange Established after World War II, one of the three major securities markets in Japan. , Code Number: 6802. Akai also owns a 17.5% share interest in Sansui. Sansui is a Japan public company whose shares are listed on the First Sections of the Tokyo Stock Exchange and the Osaka Securities Exchange, Code Number: 6793. CONTACT: Semi-Tech (Global) Company Limited Clara Loh, 852/2524 1043 Hong Kong Fax No. 852/2845 3558 Hong Kong |
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