|
|
 |
 |
News Releases |
|
The Company reached and signed a settlement agreement with Kuang-Hwa Investment Holding Co., Ltd., and Yu Hwa Development Co., Ltd. |
|
- Date of occurrence of the event: 2007/07/18
- Company name: Fuhwa Financial Holdings
- Relationship to the Company (please enter ”head office” or ”affiliate company”):listed company
- Reciprocal shareholding ratios: N/A
- Cause of occurrence: Kuang-Hwa Investment Holding Co., Ltd. and Yu Hwa
Development Co., Ltd., appealed to the Taiwan High Court after a decision of the Taipei District Court on the price for buy-back, to which they objected. The Company has now reached and signed an agreement with the said two companies.
- Countermeasures: Kuang-Hwa Investment Holding Co., Ltd. and Yu Hwa
Development Co., Ltd., have agreed to withdraw the appeal from the Taiwan High Court within three days after the signing of the agreement.
- Any other matters that need to be specified: The Company annouced on
January 12, 2007 its receipt of letters from Kuang-Hwa Investment Holding Co., Ltd., Jen-Hwa Investment Holding Co., Ltd., Yu Hwa Development Co., Ltd., Asia Pacific Holdings Corporation, and Central Investment Holding Co., Ltd., requesting the Company to buy back all of their shares at the fair price according to the Company Act. However, it was actually Kuang-Hwa
Investment Holding Co., Ltd. and Yu Hwa Development Co. that filed the
request to the courts for a decision on the price.
|
|
|
|
|
|
