New Investors Acquired Total 100 Million JIC Ordinary Shares29 December 2004
On the same day, after having liquidated 100 million J.I.C. ordinary
shares through the market, J.I.C.'s parent company, Nam Tai Electronics, Inc.
("Nam Tai") (NYSE Symbol: NTE) converted all the outstanding J.I.C. preference
shares into ordinary shares. As a result, Nam Tai increased its ownership in
J.I.C. by 213,902,912 ordinary shares to 546,890,978 ordinary shares
representing 71.63% of all J.I.C. ordinary shares and remains the major
shareholder of J.I.C.; the public holds 216,643,777 ordinary shares
representing 28.37% of all J.I.C. ordinary shares. After all outstanding
preference shares are converted, J.I.C.'s total number of ordinary shares
increased to 763,534,755 shares.
Mr. Seitaro Furukawa, Chairman of J.I.C. said, "I am happy that more and
more investors realize the successful performance of J.I.C. and invested in
the Group. Also, we are glad to see that after all preference shares of J.I.C.
were converted into ordinary shares, the true market capitalization value and
hence the true investment value of J.I.C. can be reflected more clearly to
investors."
About J.I.C
J.I.C. specializes in the design, manufacture and marketing of LCD panels
and modules, its products are widely applied to different kinds of portable
electronic devices, such as watches, calculators, personal digital assistants,
mobile phones, car audio devices, instruments, and etc. J.I.C. has already
built up a strong customer base with globally well-known electronic brands,
including Nanox, Stanley, Uniden, Optrex, National, and etc. In addition,
J.I.C.'s production base is located in Shezhen, the PRC, with LCD panels'
production capacity ranked among the first along with other manufacturers with
the same scale.
J.I.C. is one of the subsidiaries of Nam Tai Electronics, Inc. ("NTE").
NTE is an electronics design and manufacturing service provider to many of the world's leading original equipment manufacturers, including Canon, Epson, Optrex, Seiko Instruments,
Sharp, Sony, Sony Ericsson, Texas Instruments, Toshiba and others. It
manufactures high-quality telecommunications products, palm-sized PCs,
personal digital assistants, linguistic products, calculators and components
such as LCD modules, wireless communication terminals and their modules and
CMOS sensor modules.
Source: PR Newswire
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