TPK SIGNS A Memorandum of Understanding WITH SUWA INVESTMENT HOLDINGS LLC
Taipei, Taiwan, April 12th, 2019 – TPK Holding Co., Ltd (TWSE: 3673) (“TPK” or the “Company”) today announced that it has signed a Memorandum of Understanding (“MOU”) with Suwa Investment Holdings LLC (“Suwa”) to invest in Japan Display Inc(“JDI”). In addition, TPK and JDI also sign a LCD Business Alliance Basic Agreement for future business cooperation. The investment objectives are to enhance vertical integration of touch and display industries, accelerate new technology implementation, and proliferate touch penetration in automotive market and increase collective market share. According to the MOU, Suwa plans to invest JPY 60 billion in JDI, of which JPY 42 billion is for subscribing new shares offering through private placement at a price of JPY 50 per share, representing 49.82% ownership in JDI; and the other JPY 18 billion is for JDI’s convertible bond issuance. In addition, Suwa may invest another JPY 20 billion in form of convertible bond to support JDI’s funding requirement in the future. TPK’s investment amount will not exceed US$230 million, representing 41.8% ownership of SUWA. Harvest Technology Investment Management Co., Ltd., a professional private equity manager and a part of Harvest Group (“Harvest”),and Cosgrove Global Limited / Topnotch Corporate Limited, investment companies managed by a family office of the Tsai family, the founding family of Fubon Financial Holding Co., Ltd., (“CGL Group”) also plan to participate. The investment ratio of Harvest and CGL Group are 34.5% and 23.6% respectively. The investment is still under negotiation and due diligence, subject to fulfillment of conditions precedent and TPK’s Board approval. **********************************************************************************************
ABOUT TPK TPK was founded solely for touch solutions in 2003. We are the inventor of transparent glass-based projected capacitive (P-Cap) touch solutions and the first company for mass production. Since 2Q 2010, TPK has expanded its touch product offering into PET-film based solutions. Our production sites are located in Xiamen City of Fujian Province, China. TPK is completely and vertically integrated for one-stop shopping for touch solutions.
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