This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Himax Announces Taiwan Depository Receipts Listing Plan And Cash Dividend

TAINAN, Taiwan, May 20, 2010 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. ("Himax" or the "Company") (Nasdaq:HIMX) announced that its Board of Directors has approved a listing plan in the form of Taiwan Depository Receipts ("TDRs") on the Taiwan Stock Exchange (the "TWSE") and will promptly commence the preparation of listing application. The Company's Board of Directors also declared an annual cash dividend of 25 cents per ADS, or 12.5 cents per ordinary share, for the year 2010.

Himax decided to pursue a TDR listing plan on the TWSE as an alternative to the Company's prior application to the TWSE in the form of a primary listing of ordinary shares. Pursuant to the amendments to the Criteria Governing the Offering and Issuance of Securities by Foreign Issuers in Taiwan, which went into effect on May 19, 2010, Himax, whose ADSs are listed on the Nasdaq, has become eligible to list TDRs on the TWSE. The amendments also contain measures to promote a better secondary market liquidity. As Himax is a Cayman Islands company listed on the Nasdaq, a major benefit of TDR listing for Himax, as opposed to its withdrawn primary listing plan, is that maintenance costs of listing in Taiwan will likely be substantially lower because ongoing compliance is expected to remain essentially the same with limited additional compliance requirements in Taiwan.

As the primary listing application to the TWSE is aborted, according to a special resolution of the Company in its Annual General Meeting on August 6, 2009, the adoption of the Third Amended and Restated Memorandum and Articles of Association became unconditional and effective on May 20, 2010. The Third Amended and Restated Memorandum and Articles of Association are identical to the memorandum and articles of association of the Company in effect prior to the adoption on August 6, 2009 of certain amendments to meet the TWSE's primary listing requirements except for the Company's authorized share capital and par value.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs