Company: PLTYF
Filing Date: 2025-06-13
Form Type: POS AM
Source: 0001410578-25-001412
Chunk: 94

Company: Plastec Technologies, Ltd.
Filing Date: 2025-06-13
Form: POS AM
Chunk 94
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MENTS (Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated)

1.Organization and Business Background (Continued)

History and Background -The Merger Transaction with Plastec International Holdings Limited

On March 27, 2008, the Company was established as a special purpose acquisition company whose objective was to consummate an acquisition, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses located in the PRC.

On August 6, 2010, the Company entered into an Agreement and Plan of Reorganization (the “Merger Agreement”) with GSME Acquisition Partners I Sub Limited (“GSME Sub”), PIHL and all former shareholders of PIHL (“PIHL Shareholders”) (together, the “Parties”). Upon the consummation of the transactions contemplated by the Merger Agreement, GSME Sub was to be merged with and into PIHL, with PIHL surviving as a wholly-owned subsidiary of the Company (the “Merger”). The PIHL Shareholders were then entitled to receive up to an aggregate of ordinary shares, par value U.S.$ per share, of the Company.

On September 13, 2010, in connection with the Merger, the Parties entered into an Amended and Restated Agreement and Plan of Reorganization (the “Amended and Restated Merger Agreement”) to, amongst other matters, revise the terms of the merger consideration to be paid to the PIHL Shareholders. Pursuant to the Amended and Restated Merger Agreement, upon consummation of the Merger, the PIHL Shareholders became entitled to receive up to an aggregate of ordinary shares of the Company, of which shares were issued to the PIHL Shareholders on the closing of the Merger and the remaining of up to shares (, and shares for 2011, 2012 and 2013 respectively) (the “Earnout Shares”) would have been issued to the PIHL Shareholders, if PIHL had net income as defined in the Amended and Restated Merger Agreement in the following amounts for the indicated years ending April 30 below:

| ​                     
 Year ending April 30, | ​ |          ​ 
 Net Income |
|:----------------------|:--|-----------:|
| ​                     | ​ |        HK$ |
| ​                     | ​ |          ​ |
| 2011                  | ​ |    130,700 |
| 2012                  | ​