American furniture manufacturer Kestar – KY (2936-TW) The board of directors discussed and approved the case of terminating the listing and trading and suspending the public offering. According to the regulations, Kestar director Yeko LLC and major shareholder Yeh Family Limited Partnership, LP will handle the follow-up commitment to the acquisition. The estimated purchase price is 39.5 yuan per share.
Kestar expects that on April 18, the extraordinary shareholders’ meeting will resolve the case of terminating the listing. After the resolution is passed, it will apply to the stock exchange to terminate the listing and apply to the Securities and Futures Bureau of the Financial Supervisory Commission for matters related to the suspension of the public offering of stocks.
Kestar explained that in response to changes in the global supply chain and recent market development in recent years, it has adjusted its operating strategy, reduced capital expenditures and maintained profitability, in order to achieve sustainable operations. In view of the lack of a large-scale business expansion plan in the near future, it plans to terminate the listing. Safeguard the rights and interests of the company and shareholders.
After the termination of listing, Kestar will adjust its operations accordingly, and there is no plan to list on other exchanges in the near future.
Kestar pointed out that the acquisition price is expected to be 39.5 yuan per share, but if the simple arithmetic average of the closing price of the stock one month before the resolution of the extraordinary shareholders’ meeting is higher than the acquisition price decided by the board of directors, the chairman should immediately follow the third step of the termination of listing procedure. Article 1. The adjustment of the purchase price shall be the simple arithmetic average of the closing price of the stock one month before the resolution of the extraordinary shareholders’ meeting, which shall be announced before the extraordinary shareholders’ meeting and submitted to the extraordinary shareholders’ meeting for resolution.