Material Information

2020-07-23

The Board of YFY Inc. approved the base date and other relevant information of the share release of Yuen Foong Yu Consumer Products Co., Ltd.

1.Date of occurrence of the event:2020/07/23
2.Company name:YFY Inc.
3.Relationship to the Company (please enter ”head office” or
”subsidiaries”):The Company
4.Reciprocal shareholding ratios:N/A
5.Cause of occurrence:
(1)To conduct the IPO of the Company’s subsidiary, Yuen Foong Yu Consumer
Products Co., Ltd.(hereinafter called the “CPG”) in accordance with
Criteria for Review of Securities Listings, the Shareholder Meeting had
approved the share release of the Company's CPG holdings on June 22th,
2020. The shareholders of the Company who were resisted on the latest
book closure date will be qualified to subscribe CPG’s share pro rata
according to the number of shares held. The withdrawal shares from
shareholders of the Company who waived the rights of subscription, the
Chairman is authorized to execute for subscription by a specific person
or persons through negotiation.
(2)In considering to the equity structure planning of CPG, the Board
approved to release 72,000,000 holding shares of CPG, the shareholders
who are recorded in the Company's latest book closure date( which is
2020/07/17) will be eligible to subscribe CPG’s shares pro rata
according to the number of shares held. According to the Company’s
current outstanding shares, which is 1,660,371,495 shares, every 1000
shares of the Company will be granted rights to subscribe 43 shares of
CPG common shares.. Therefore, the Company’s shareholder who held YFY
Inc.'s 24 shares and above will be granted the subscription rights(will
be rounded down to the nearest whole number without any discretion).
For the partial subscription requirement please proceed to the
Company’s stock administration agent, SinoPac Securities, to process
the application by 04:00 p.m. on 2020/07/30.
(3)The price of the subscription is NT$34 per share and the price has
obtained fairness opinion report issued by JL Chen CPA Firm.
(4)The payment period of the subscription: From 2020/07/28 to 03:30p.m.
on 2020/07/31.
6.Countermeasures:None.
7.Any other matters that need to be specified:None.