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The board of directors of Getac Technology Corporation passed the proposal to dispose of 100% equity of PMD. The transaction amount is US$101 million.


Getac Technology Corporation (TWSE:3005, Getac) held a board meeting today to approve the proposal to dispose of the equity of Pacific Metal Developments Ltd.(hereinafter as PMD) by its 100% owned subsidiary Hot Link Technology Ltd.. Based on the consideration of the group's business strategy and the revitalization of assets, Hot Link Technology Ltd. intends to sign an "Equity Purchase Agreement" with Allied Profit Global Limited to sell 100% equity of PMD and its 100% owned mainland company Mitac Precision Technology (Shunde) Ltd. at Forshan City, Guangdong Province for US$101 million.

In addition to the agreement between the two parties in the PMD equity transfer transaction, independent experts have also issued a price reasonableness opinion and an asset evaluation report. According to preliminary estimates, Hot Link Technology Ltd. can recognize approximately US$90 million of gain on disposal of investments., but the transaction still has assets, liabilities, taxes and professional fee to be settled and audited by accountants.