Company: PLTYF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001410578-25-001338
Chunk: 17

Company: Plastec Technologies, Ltd.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 17
---
010 ordinary shares and 547,600 public warrants under the 2013 Repurchase Program.
On November 18, 2014, all issued and outstanding public warrants, insider warrants and unit purchase options expired and are no longer outstanding.

22

On November 14, 2015, we entered into the Agreement with SYB and its wholly-owned subsidiary, SYIM. Pursuant to the Agreement, SYIM was to purchase, through a wholly-owned Hong Kong subsidiary, the entirety of our shareholder interests in Plastec for an aggregate Transfer Price of RMB1,250,000,000 (or US$181,159,420), in cash. Of the Transfer Price, RMB875,000,000 (or US$126,811,594) was payable within 60 days after the China Securities Regulatory Commission approved of the Issuance (as defined in the Agreement) and SYB’s receipt of the funds raised through the Issuance, the latter of which was confirmed by SYB to have happened by July 29, 2016. Accordingly, payment of the initial portion of the Transfer Price was made to us on September 21, 2016.
The Remaining Amount of RMB375,000,000 (or US$54,347,826) was deposited into a bank account supervised and administered by SYB and us jointly. Payments from the bank account were to be made to us upon Plastec achieving the Performance Commitments as described below:

           ​               ​           ​           ​                 ​               
-------------------------------------------------------------------------------------
Year ending December 31,       Net Profit Target       Payment Amount                
                    2016   ​   HK$161,211,000      ​   RMB113,250,000 (US$16,413,043)
                    2017   ​   HK$177,088,000      ​   RMB124,380,000 (US$18,026,087)
                    2018       HK$195,408,000          RMB137,370,000 (US$19,908,696)
​
On October 11, 2016, the parties consummated the transactions contemplated by the Agreement after the fulfillment of certain other conditions, as described in the Agreement. As a result, we no longer own Plastec.
By a letter dated May 10, 2017, SYB confirmed and acknowledged to us that Plastec’s audited net profit (on a consolidated basis, after deducting non-recurring