Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

John Lee (also known as Li Zhongwang) has been Chairman and CEO of Taiwanese network hardware designer and manufacturer <a href="https://www.smartkarma.com/entities/alpha-networks-inc" target="_blank" data-smartkarma-citation="entities:1397:1" rel="noopener">Alpha Networks (3380 TT)</a> since 2003. Or may be "was." One cannot be sure yet. Last Thursday, the representatives of <a href="https://www.smartkarma.com/entities/d-link-corp" target="_blank" data-smartkarma-citation="entities:17983:1" rel="noopener">D Link Corp (2332 TT)</a>, which operates in the same basic business line and owns almost exactly 20% of Alpha Networks, and <a href="https://www.smartkarma.com/entities/qisda-corp" target="_blank" data-smartkarma-citation="entities:17110:1" rel="noopener">Qisda Corp (2352 TT)</a>, a larger scale($5bn+ revenues) ODM/OEM provider of services and manufacturing for electronic products which owned just less than 20% at last look end-March but according to media sources now owns 23.8% who had seats on the board of Alpha Networks put forth an extraordinary proposal to dismiss the Chairman and CEO in what appears to have been a successful Board coup. Mr. Huang Wenfang - the rep from Qisda - was installed as new Chairman. Then Qisda announced it would conduct a Partial Tender Offer to buy between 5% and 19% of Alpha Networks, with a filing no later than 11 May and commencement no later than 12 May. The goal is apparently to streamline the companies' efforts to launching 5G hardware design and manufacturing, but the real reason is control. Mr. John Lee has not counted himself out. This afternoon, one Taiwanese media source seems to have a copy of his <a href="https://www.storm.mg/article/2596439" target="_blank" rel="noopener">comments</a> about the matter and he's fighting it. Of course, he can fight the board ouster through legal means - and it appears he has started to do so - but he cannot fight the Partial Offer. That makes for exciting times. Much more below the fold.

John Lee (also known as Li Zhongwang) has been Chairman and CEO of Taiwanese network hardware designer and manufacturer Alpha Networks (3380 TT) since 2003. Or may be "was." One cannot be sure yet. Last Thursday, the representatives of D Link Corp (2332 TT), which operates in the same basic business line and owns almost exactly 20% of Alpha Networks, and Qisda Corp (2352 TT), a larger scale($5bn+ revenues) ODM/OEM provider of services and manufacturing for electronic products which owned just less than 20% at last look end-March but according to media sources now owns 23.8% who had seats on the board of Alpha Networks put forth an extraordinary proposal to dismiss the Chairman and CEO in what appears to have been a successful Board coup. Mr. Huang Wenfang - the rep from Qisda - was installed as new Chairman. Then Qisda announced it would conduct a Partial Tender Offer to buy between 5% and 19% of Alpha Networks, with a filing no later than 11 May and commencement no later than 12 May. The goal is apparently to streamline the companies' efforts to launching 5G hardware design and manufacturing, but the real reason is control. Mr. John Lee has not counted himself out. This afternoon, one Taiwanese media source seems to have a copy of his comments about the matter and he's fighting it. Of course, he can fight the board ouster through legal means - and it appears he has started to do so - but he cannot fight the Partial Offer. That makes for exciting times. Much more below the fold. 

Alpha Networks (3380 TT): A Board Coup and Partial Offer To Control

Taiwan

Hitron Technology Inc. distributes telecommunication products and computer workstations.  The Company also manufactures transmission products such as digital loop carrier (DLC) systems, high-bit-rate-digital subscriber line (HDSL) transmission systems, cellular repeater boosters, and video phone systems.  In addition, Hitron is an internet service provider in Taiwan.

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Hitron Technology (2419 TT)

Alpha Networks (3380 TT): A Board Coup and Partial Offer To Control

John Lee (also known as Li Zhongwang) has been Chairman and CEO of Taiwanese network hardware designer and manufacturer Alpha Networks (3380 TT)...

Travis Lundy

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