As at the date of this announcement, the controlling shareholders are Patec Precision Industry, Yida Investments – the holder of 28.87% of the shares in Patec Taiwan – and Wee Hong Jie, the sole shareholder of Yida Investments.
Broadway Industrial Group has announced its intention to undertake a delisting exercise by way of a selective capital reduction, in which all 17,265,407 shares will be cancelled in consideration of 26.2 cents per share.
The selective capital reduction entails the cancellation of all shares held by shareholders of the company other than the controlling shareholders. If this is effected, a sum of about $4.523 million will be returned to shareholders.
