Subsidiary's board approved to cancel the merger of Phase Holdings, Inc.
2025-03-05
1.Date of occurrence of the event:2025/03/05
2.Date of the original announcement and reporting:2024/07/18
3.Summary of the content originally announced and reported:
Subsidiary, Amplifi Technologies America Inc. (AMP US) planed to
enter medical sector and establish an U.S. based factory
through the acquisition of Phase Holdings, Inc.
4.Reason for change and its main content:
Given abrupt changes in macro environment and competitive landscape,
risk and uncertainty arise which are likely to
compromise short- and medium-term profitability targets.
As a result, AMP US proactively renegotiated with the seller and
finally reached an agreement to cancel the deal.
Except for US$1.6 million in cash,
all shares exchanged for the transaction will be returned to each other.
5.Effect on the Company's finance and business after the change:
The merger was meant to expand new business.
Hence, no impact to existing business and customers.
6.Any other matters that need to be specified:None.