| Miscellaneous | |
| * Asterisks denote mandatory information | |
| Name of Announcer * | FINANCIAL ONE CORP. |
| Company Registration No. | CF "“ 163966 |
| Announcement submitted on behalf of | FINANCIAL ONE CORP. |
| Announcement is submitted with respect to * | FINANCIAL ONE CORP. |
| Announcement is submitted by * | Cheng-Ming (James) Huang |
| Designation * | Executive Director |
| Date & Time of Broacast | 08-Sep-2007 20:07:00 |
| Announcement No. | 00004 |
| Price Sensitivity | Yes |
| >> Announcement Details | |
| The details of the announcement start here ... |
| Announcement Title * | FINANCIAL ONE'S TAIWAN SUBSIDIARY WILL INCREASE ITS PAID-IN CAPITAL BY PLACEMENT OF NEW SHARES TO FINANCIAL ONE AND CONVERSION OF CAPITAL SURPLUS |
| Description | Financial One's subsidiary in Taiwan, Chailease Finance Company ("CFC"), has proposed a plan of capital increase by rights issue and conversion of capital surplus. CFC will issue 63,000,000 new shares with par value of NT$10 to Financial One in exchange of an investment of NT$630,000,000. The investment in CFC by Financial One will be funded by the proceeds of the Initial Public Offering. CFC will also convert its capital surplus of NT$670,906,560 into equity and issue 67,090,656 new shares with par vale of NT$10 to its sole shareholder, Financial One. The paid-in capital of CFC after the placement of new shares and conversion of capital surplus will increase from NT$6,709,065,670 to NT$8,009,972,230, divided into 800,997,223 shares with par value of NT$10. The placement and conversion of capital surplus are subject to approvals by Taiwan government and will be implemented after the approvals are obtained. The capital increase will be used to fund the growth of business of CFC and to strengthen its financial viability. The initial public offering of the Company's shares was sponsored by J.P. Morgan (S.E.A.) Limited, who assumes no responsibility for the contents of this announcement. |
