ABIT rises from the ashes

[Bio-Hazard]

"21 March 2006 - Today, ABIT Computer Corporation and Universal Scientific Industrial Co. Ltd. (USI) completed the transfer of the ABIT motherboard brand and related intangible assets to a new joint venture company established by both ABIT and USI. The new company, registered as Universal ABIT Co., Ltd., will tender a consideration consisting of NT$350 million in cash, 20 million units of special shares, and 5 million units of warrants to purchase the above mentioned intangible assets of ABIT, including patents, trademarks, et-cetera. With the new partnership, ABIT receives a strong financial backing from which to continue its core business, and also eliminates the financial straits which began late Q4 2004."

http://www2.abit.com.tw/page/en/news/newspop.php?pDOCNO=en_0603211

[Scott]

You know you only beat me getting that on the front page since I am on vacation at Disney World at the moment.

[Bio-Hazard]

I figured that you must be doing something special as you haven't been around as much the past few.............. :wink:

[Bio-Hazard]

Seems all is still not well with Abit, I hope they work this one out fast.......... :shock:

"Second-tier mobo maker Abit to be delisted from TSE

Abit will be delisted from the Taiwan Stock Exchange (TSE) as the latest financial statements it submitted to the TSE still failed to meet the requirements set by the government’s supervisory agency and also because it failed to completely redeem a due overseas convertible bond issue, the Chinese-language Commercial Times reported today, quoting a TSE report.

Abit is likely to be delisted within two months as the TSE is required to submit its proposal for delisting Abit to Taiwan’s Financial Supervisory Commission (FSC) for approval and post FSC’s official announcement for 40 days."


http://www.digitimes.com/mobos/a20060322PB206.html