Coretronic : The announcement of board of directors resolved to proceed short-form merger with its full owned subsidiary Optoma Technology Corporation

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Provided by: Coretronic Corporation
SEQ_NO	3	Date of announcement	2022/03/21	Time of announcement	17:21:40
Subject	The announcement of board of directors resolved to proceed short-form merger with its full owned subsidiary Optoma Technology Corporation
Date of events	2022/03/21	To which item it meets	paragraph 11
Statement	1.Type of merger and acquisition (e.g.merger, spin-off , acquisition, or share transfer):Merger (short-form merger) 2.Date of occurrence of the event:2022/03/21 3.Names of companies participating in the merger and acquisition (e.g., name of the other company participating in the merger, newly established company in a spin-off, acquired company, or company whose shares are transferred): Coretronic Corporation (the surviving entity) Optoma Technology Corporation (the dissolving entity) 4.Trading counterparty (e.g., name of the other company participating in the merger, company spinning off, or trading counterparty to the acquisition or share transfer): Optoma Technology Corporation 5.Relationship between the trading counterparty and the Company (investee company in which the Company has re-invested and has shareholding of XX%), explanation of the reasons for the decision to acquire from or transfer shares to an affiliated enterprise or related party, and whether it will affect shareholders' equity: Coretronic Corporation conducted short-form merger with its 100%-owned subsidiary ,Optoma Technology Corporation.The purpose of the merger is to integrate the group resources and shall not impact the rights of shareholders. 6.Purpose of the merger and acquisition : To simplify the shareholding structure of brand business unit, the board of directors approved the short-form merger with Optoma Technology Corporation, which had spun off display business to Optoma Co., Ltd., a newly formed company owned by Optoma Holding Limited. 7.Anticipated benefits of the merger and acquisition : Integrate of group resources, reduce operating costs, and improve operational efficiency. 8.Effect of the merger and acquisition on net worth per share and earnings per share:The purpose of the merger is to integrate the group resources,reduce operating costs and shall not impact the rights of shareholders. 9.Share exchange ratio and calculation assumptions:N/A 10.Whether the CPA, lawyer or securities underwriter issued an opinion on the unreasonableness regarding the transaction:N/A 11.Name of accounting, law or securities firm:N/A 12.Name of CPA or lawyer:N/A 13.Number of CPA or lawyer license:N/A 14.Estimated date of completion: The merger record date is indicatively set on July 1, 2022. 15.Matters related to the assumption of corporate rights and obligations of the dissolving company (or spin-off) by the existing or newly-established company: Coretronic Corporation shall assume the rights and obligations of Optoma Technology Corporation starting from merger record date. 16.Basic information of companies participating in the merger: (1)The main business for the production and sale of energy-saving products and vision solution products of Coretronic Corporation. (2)The main business for R&D and sale of visual display products of Optoma Technology Corporation. 17.Matters related to the spin-off (including estimated value of the business and assets planned to be transferred to the existing company or new company.The total no.of shares to be acquired by the spun-off company or its shareholders, and their respective types and no.Matters related to the reduction, if any, in capital of the spun-off company) (note: not applicable for announcements unrelated to spin-offs):N/A 18.Conditions and restrictions for future transfer of shares resulting from the merger and acquisition :None 19.Other important terms and conditions:None 20.Any objections from directors to the transaction:None 21.Is it related to new business model?:None 22.Explanation of new business model:N/A 23.Transactions with the counterparty for the past one year and the next year:None 24.Source of funds:N/A 25.Any other matters that need to be specified:None