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Weltrend Board of Directors Meeting Resolutions
2018-03-14
Hsinchu, Taiwan, March 14, 2018 – Weltrend Semiconductor (TAIEX: 2436) held a meeting of the Board of Directors today. At the meeting today, the Board of Directors passed the following resolutions: |
1.Proposed to conduct capital reduction by reducing share capital and pay it back to shareholders with the aim of improving return on equity and other financial ratios. The amount of the capital reduction is NT$445,146,000 with cancelled shares of 44,514,600 shares. According to the total shares outstanding of 222,573,000 shares as of March 14, 2018, 200 shares are to be cancelled per 1,000 shares and NT$2 are to be returned to shareholders per share for a capital reduction ratio of 20%. The share capital after the capital reduction is NT$1,780,584,000 and the estimate listed common shares after the capital reduction are 178,058,400 shares. |
2.Proposed the distribution of a cash dividend of NT$0.6 per common share and submitted the proposal for approval by the 2018 Annual General Shareholder’s Meeting. |
3.Approved distribution of employees’ bonus totaling NT$36,407,065 and compensation of directors and supervisors totaling NT$9,101,766. The payment will be made by cash and is consistent with the expense recognized in the year of 2017. |
4.Approved the convening of the 2018 Annual General Shareholder’s meeting for 9:00 a.m. on June 12, 2018 at Weltrend’s headquarters RM310, 3F, No.22, Industry E. 9th Rd., Hsinchu Science Park, Hsinchu 300, Taiwan. |
About Weltrend Semiconductor Inc. Founded in 1989 in the "Silicon Valley of Taiwan", the Science-Based Industrial Park (SBIP) in Hsinchu, Weltrend (TAIEX: 2436) is a leading fabless semiconductor company, also known as IC design house, specializing in the planning, design, testing, application development and distribution of mixed-signal/digital IC products across multiple applications. For more information, please visit www.weltrend.com. |