Himax Announces Taiwan Depository Receipts Listing Plan and Cash Dividend
20 Mai 2010 - 2:01PM
Himax Technologies, Inc. ("Himax" or the "Company") (Nasdaq:HIMX)
announced that its Board of Directors has approved a listing plan
in the form of Taiwan Depository Receipts ("TDRs") on the Taiwan
Stock Exchange (the "TWSE") and will promptly commence the
preparation of listing application. The Company's Board of
Directors also declared an annual cash dividend of 25 cents
per ADS, or 12.5 cents per ordinary share, for the year 2010.
Himax decided to pursue a TDR listing plan on the TWSE as an
alternative to the Company's prior application to the TWSE in the
form of a primary listing of ordinary shares. Pursuant to the
amendments to the Criteria Governing the Offering and Issuance of
Securities by Foreign Issuers in Taiwan, which went into effect on
May 19, 2010, Himax, whose ADSs are listed on the Nasdaq, has
become eligible to list TDRs on the TWSE. The amendments also
contain measures to promote a better secondary market liquidity. As
Himax is a Cayman Islands company listed on the Nasdaq, a major
benefit of TDR listing for Himax, as opposed to its withdrawn
primary listing plan, is that maintenance costs of listing in
Taiwan will likely be substantially lower because ongoing
compliance is expected to remain essentially the same with limited
additional compliance requirements in Taiwan.
As the primary listing application to the TWSE is aborted,
according to a special resolution of the Company in its Annual
General Meeting on August 6, 2009, the adoption of the Third
Amended and Restated Memorandum and Articles of Association became
unconditional and effective on May 20, 2010. The Third Amended and
Restated Memorandum and Articles of Association are identical to
the memorandum and articles of association of the Company in effect
prior to the adoption on August 6, 2009 of certain amendments to
meet the TWSE's primary listing requirements except for the
Company's authorized share capital and par value.
In addition, the Company's Board of Directors declared an annual
cash dividend of 25 cents per ADS, or 12.5 cents per ordinary share
for the year 2010, which is expected to be payable on August 13,
2010 to shareholders of record as of August 6, 2010. The ADS book
will be closed for issuance and cancellation from August 2, 2010 to
August 6, 2010.
About Himax Technologies, Inc.
Himax Technologies, Inc. designs, develops, and markets
semiconductors that are critical components of flat panel displays.
The Company's principal products are display drivers for
large-sized TFT-LCD panels, which are used in desktop monitors,
notebook computers and televisions, and display drivers for small-
and medium-sized TFT-LCD panels, which are used in mobile handsets
and consumer electronics products such as netbook computers,
digital cameras, mobile gaming devices, portable DVD players,
digital photo frame and car navigation displays. In addition, the
Company is expanding its product offerings to include timing
controllers, LCD TV and monitor chipset solutions, LCOS projector
solutions, power management ICs, CMOS Image Sensors, Infinitely
Color Technology and 2D to 3D conversion solutions. Based in
Tainan, Taiwan, the Company has regional offices in Hsinchu and
Taipei, Taiwan; Ninbo, Foshan, Fuqing, Beijing, Shanghai, Suzhou
and Shenzhen, China; Yokohama and Matsusaka, Japan; Anyang-si
Kyungki-do, and Cheonan-si, Chungcheongnam-do, South Korea; and
Irvine California, USA.
Forward-Looking
Statements:
This press release contains forward-looking statements,
including statements regarding our future business prospects and
our ordinary shares and ADSs, on which you should not place undue
reliance. There can be no assurance that Himax's TDR listing plan
will be successfully completed and no assurance that the TDR
listing will provide a more convenient trading platform for all
existing and potential investors, improve the Company's share
liquidity or enhance its share price; factors that could cause our
dual listing plan to differ materially include, but not limited to,
shareholders' support on the TDR listing plan, changes in either
Taiwan or U.S. authorities' policies, the TWSE's and Taiwan
authority's approval of Himax's TDR listing application, changes in
capital market conditions in either Taiwan or the U.S., capital
market acceptance of our TDR listing and offering, our future
business development, results of operations and financial
condition, the capabilities of the underwriters and other risks
described from time to time in the Company's SEC filings, including
those risks identified in the section entitled "Risk Factors" in
its Form 20-F for the year ended December 31, 2008 filed with the
SEC on May 15, 2009. We undertake no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.
CONTACT: Himax Technologies, Inc.
Max Chan, Chief Financial Officer
+886-2-2370-3999 Ext. 22300
max_chan@himax.com.tw
Investor Relations
Jessie Wang
+886-2-2370-3999 Ext. 22618
jessie_wang@himax.com.tw
Jessica Huang
+886-2-2370-3999 Ext. 22513
jessica_huang@himax.com.tw
In the U.S.
The Ruth Group
Joseph Villalta
+1-646-536-7003
jvillalta@theruthgroup.com
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