Epistar Everlite to buy Huga shares

Epistar, Everlite to buy Huga shares

Huga’s former largest share holder Win Semiconductors had released its Huga stakes previously with Epistar.

Wednesday, July 28, 2010

TAIPEI: Epistar, a Taiwan-based LED chip maker, and Everlite, an LED packaging house, will buy out shares numbering 49.61 million and 18.09 million at NT $30 per unit respectively from LED chip maker Huga Optotech.

Huga’s former largest share holder Win Semiconductors had released its Huga stakes previously with Epistar. It is now a minor share holder only by subscribing 8.5 million new Huga shares at NT$255million (US$7.96million).

It has also been reported that Huga’s present chairman and president have handed over their resignations. Epistar’s former vice president Huang Zaonian will succeed them. For a new board, re-election is expected to be held at the share holders’ meeting scheduled for September 6, 2010. Epistar mentioned that it expects three seats in the director board.

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