YAGEO Corporation and Chilisin Electronics Corp. Joint Press Release

2021-06-30

YAGEO Corporation and Chilisin Electronics Corp.
Joint Press Release

June 30th, 2021

 

YAGEO Corporation (TAIEX: 2327) (“YAGEO”) and Chilisin Electronics Corp. (TAIEX: 2456) (“Chilisin”) today announced that YAGEO will acquire all of the outstanding shares of Chilisin’s common stock in a stock-swap transaction. The transaction has been unanimously approved by the Boards of Directors of both companies.YAGEO Corporation (TAIEX: 2327) (“YAGEO”) and Chilisin Electronics Corp. (TAIEX: 2456) (“Chilisin”) today announced that YAGEO will acquire all of the outstanding shares of Chilisin’s common stock in a stock-swap transaction. The transaction has been unanimously approved by the Boards of Directors of both companies.

The conversion ratio of this stock-swap transaction is to exchange 0.2002 share of YAGEO’s common stock for 1 share of Chilisin's common stock. The final share conversion ratio will be adjusted according to the share conversion contract of both parties. Based on the closing stock prices of both companies for the last trading day on June 29th, 2021, the share conversion premium is approximately 10.01%. The two parties are expected to hold an extraordinary general meeting on September 7th, 2021 to approve the proposal. The transaction, which is expected to close on December 30th, 2021, is subject to customary closing conditions and the receipt of required regulatory approvals, and the completion of the stock swap. After this transaction, Chilisin will become a wholly-owned subsidiary of YAGEO and will be delisted and void its public issues.

YAGEO is the world's leading service provider of chip resistors, tantalum capacitors, and ceramic capacitors. After recent global mergers and internal optimization of product mix, the company has greater exposure to the high-end premium segments such as automotive, industrial, medical, aerospace, 5G/IoT and also continues to integrate its products, technologies and channels to meet customers' need for supply chain optimization. Chilisin is a professional manufacturer of inductor components, focusing on consumer electronics, mobile devices, and communication applications in the Greater China.

Chilisin is an associate company of YAGEO and maintains its independent operation. Through the transaction of 100% stock swap with YAGEO, it will enhance the operations and leverage the synergies of both companies. Yageo’s product portfolio will not only be more comprehensive, Chilisin also will enter high-end markets in Europe, America and Japan through YAGEO’s global channels, as well as premium segments such as automotive, industrial, medical, aerospace and 5G/IoT to create even higher value for customers, shareholders, and employees of both companies.

 

For more information, please contact:

Investor and Public Relations, YAGEO 
Tel: +886.2.6629.9999 
Email:  ir@yageo.com

Investor and Public Relations, Chilisin 
Tel: +886.3.261.8000 
Email:  ir@chilisin.com