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Taipei, Taiwan, R.O.C. – June 11, 2014 Holy Stone Enterprise Co., Ltd. (Holy Stone) (TWSE: 3026), a passive component manufacturer and an IC distributor.
Today the board of directors resolved its subsidiary, Holy Stone Holdings Co., Ltd., (HS Holdings) against the disposal of reinvestment.
Aligning with the group’s development strategy and investment synergy, Holy Stone agreed on HS Holdings’ disposal of 100% shares of Holy Stone Polytech Co., Ltd., which is transferred to Vishay Israel Limited in pursuit of the best interest.
The contract price was USD$21,240,000 in total. Gain on this disposal, calculated by using its carrying value on 31 May, 2014, was USD$ 8,700,000.
