RNS Number : 4548Z
Hon Hai Precision Industry Co Ld
26 May 2016
Subject: Subsidiary Foxconn Singapore Pte. Ltd.will purchase 100% of SMART Technologies Inc.'s
shares with US$ 4.5 per share through tender offer.
Date of events:2016/05/26
Contents:
1.Type of merger/acquisition (e.g.merger, consolidation, spin-off,
acquisition, or receiving assignment of shares):acquisition
2.Date of occurrence of the event:2016/05/26
3.Names of companies participating in the merger (e.g.name of the other
company participating in the merger or consolidation, newly established
company in a spin-off, acquired company, or company whose shares are
taken assignment of): SMART Technologies
Inc.
4.Purpose/objective of the merger/acquisition: Develop new business
5.Anticipated benefits of the merger/acquisition:
The Group aims to strategically diversify into new products and services as
engines for growth.
6.Scheduled timetable for consummation:
The deal will seek approval from Smart Technology's shareholder meeting in
July. Once the deal is approved, the tender offer will be completed within
two months.
7.Basic information of companies participating in the merger:
SMART Technologies Inc. is a world-leading company developing interactive
touch technology and software. For more information, please refer to
company's website: http://home.smarttech.com/
8.Do the directors have any objection to the present transaction?:
After the deal is completed, Foxconn Singapore Pte. Ltd. will own 66.67% of
SMART Technologies Inc.'s shares, while other strategic investors will own
the remaining 33.33% of shares. The deal process and details will be
announced in accordance with related regulations.
This information is provided by RNS
The company news service from the London Stock Exchange
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