Company: PLTYF
Filing Date: 2025-06-13
Form Type: POS AM
Source: 0001410578-25-001412
Chunk: 60

Company: Plastec Technologies, Ltd.
Filing Date: 2025-06-13
Form: POS AM
Chunk 60
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 2013 Repurchase Program, which was subsequently extended and expanded, we were allowed to repurchase up to $5.0 million of Plastec Technologies’ units, ordinary shares and public warrants in both open market and privately negotiated transactions at the discretion of our management and as market conditions allowed. The 2013 Repurchase Program (as extended) was valid through September 25, 2023 and expired on such date. We had repurchased an aggregate of 586,010 ordinary shares and 547,600 public warrants under the 2013 Repurchase Program.

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On November 18, 2014, all issued and outstanding public warrants, insider warrants and unit purchase options expired and are no longer outstanding. 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, 
 2016                     | ​ 
 ​ | ​                 
 Net Profit Target 
 HK$161,211,000    | ​ 
 ​ | ​                              
 Payment Amount                 
 RMB113,250,000 (US$16,413,043) |
|:-------------------------|:--|:------------------|:--|:-------------------------------|
| 2017                     | ​ | HK$177,088,000    | ​ | RMB124,380,000 (