SANDMARTIN INTL does not participate in the subscription of Pro Brand Technology (TW) Inc.'s rights issue, resulting in a dilution of its shareholding to approximately 54.2%
SANDMARTIN INTL announced that it will not participate in the rights issue of its non-wholly-owned subsidiary Pro Brand Technology (TW) Inc. The rights issue will take place from October 15 to October 22, 2025, allowing existing shareholders to subscribe for new shares in proportion to their holdings. The company's decision not to subscribe will result in its ownership stake in the target company being diluted from approximately 59.1% to approximately 54.2%. According to Listing Rule 14.29, this dilution is considered a disposal of equity interest
According to the news from Zhitong Finance APP, SANDMARTIN INTL (00482) announced that on October 8, 2025, the board of directors of its non-wholly-owned subsidiary Pro Brand Technology (TW) Inc. (the target company) approved a rights issue to its existing shareholders. Under the rights issue, all existing shareholders of the target company have the right to accept and subscribe for new shares of the target company in proportion to their respective shareholdings during the offer period (from October 15, 2025, to October 22, 2025). On October 22, 2025, after careful consideration, the company decided not to participate in or subscribe for any new shares under the rights issue. A formal notice was sent to the target company on October 22, 2025 (after trading hours), confirming that the group would not participate in the rights issue.
As a result, after the completion of the rights issue, the group's equity interest in the target company will be diluted from approximately 59.1% to approximately 54.2%. According to Listing Rule 14.29, the dilution will be considered as the company selling its equity interest in the target company
