Announcement that the BOD of the Company approved the amendment of The Rules for Transfer Repurchased Shares To Employees
· Issued by Global Brands Manufacture Limited
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Today's Information
Provided by: GLOBAL BRANDS MANUFACTURE LTD.
SEQ_NO
2
Date of announcement
2021/11/01
Time of announcement
17:00:35
Subject
Announcement that the BOD of the Company approved
the amendment of The Rules for Transfer Repurchased
Shares To Employees
Date of events
2021/11/01
To which item it meets
paragraph 51
Statement
1.Date of occurrence of the event:2021/11/01
2.Company name:GLOBAL BRANDS MANUFACTURE LTD.
3.Relationship to the Company (please enter ��head office�� or
��subsidiaries��):head office
4.Reciprocal shareholding ratios:NA
5.Cause of occurrence:The BOD of the Company approved the amendment of
The Rules for Transfer Repurchased Shares To Employees
6.Countermeasures:
The before and after amendments are as follows:
Before
Article 6
The share repurchased is transferred to the employees at an average
price of the actual repurchased costs and the cost of fund (calculated
based on the fixed interest rate of one-year time deposit of China Post
Co., Ltd.) However, before transfer, if there is an increase or decrease
in the issued ordinary shares of the Company, the transfer price may be
adjusted within the range of the increase or decrease of the issued
shares. Transfer price adjustment formula:
Adjusted transfer price = average actual repurchased price x (total
number of ordinary shares at the completion of the company's repurchase
of shares �� total number of ordinary shares before the company transfers
the repurchased shares to employees) + cost of capital
After
Article 6
Due to the Company's cash capital reduction in 2021, the transfer price
to the employees for the shares repurchased at this time would be equal
to the average price calculated using the formula: [(the total amount of
the actual repurchase - the amount of the refunded shares of the cash
capital reduction) �� the number of new shares after the capital
reduction].
However, before transfer, if there is an increase or decrease in the
issued ordinary shares of the Company, the transfer price may be adjusted
within the range of the increase or decrease of the issued shares.
Adjusted transfer price = The average price after the aforementioned
calculation of capital reduction x (The total number of common shares
of the Company after the cash reduction in 2021 �� The total number of
common shares before the Company transfers to employees)
Note: As to cash reduction in 2021, each share will get NTD$0.8 returned,
and 920 shares will be exchanged for every thousand shares, that is,
80 shares will be reduced for every thousand shares.
7.Any other matters that need to be specified:None.
