Plastec Technologies 6-K Filing
Ticker: PLTYF · Form: 6-K · Filed: Nov 5, 2024 · CIK: 1433309
Sentiment: neutral
Topics: disclosure, legal-agreement
TL;DR
Plastec Tech 6-K: Still talking about that 2015 share transfer deal with SYB.
AI Summary
Plastec Technologies, Ltd. filed a Form 6-K on November 5, 2024, to report on its ongoing involvement with a Share Transfer Agreement dated November 14, 2015. This agreement involves the company and Shanghai Yongli Belting Co., Ltd. (SYB), a wholly-owned subsidiary.
Why It Matters
This filing provides an update on a significant past agreement, which could have implications for the company's current or future financial structure and operations.
Risk Assessment
Risk Level: low — The filing is a routine update on a historical agreement and does not appear to contain new material adverse information.
Key Players & Entities
- Plastec Technologies, Ltd. (company) — Registrant
- Shanghai Yongli Belting Co., Ltd. (company) — Party to Share Transfer Agreement
- November 14, 2015 (date) — Date of Share Transfer Agreement
- November 5, 2024 (date) — Filing Date
FAQ
What is the primary purpose of this Form 6-K filing?
The primary purpose is to report on the company's ongoing involvement with a Share Transfer Agreement dated November 14, 2015, involving Plastec Technologies, Ltd. and Shanghai Yongli Belting Co., Ltd. (SYB).
When was the Share Transfer Agreement originally entered into?
The Share Transfer Agreement was entered into on November 14, 2015.
Who are the parties involved in the Share Transfer Agreement mentioned in the filing?
The parties involved are Plastec Technologies, Ltd. and Shanghai Yongli Belting Co., Ltd. (SYB), which is a wholly-owned subsidiary.
What is the filing date of this Form 6-K?
This Form 6-K was filed on November 5, 2024.
Does the filing indicate any new developments regarding the Share Transfer Agreement?
The filing states that the company 'was party to' the agreement, suggesting it is providing an update or confirmation of its historical involvement rather than announcing new developments.
Filing Stats: 339 words · 1 min read · ~1 pages · Grade level 13.1 · Accepted 2024-11-05 06:02:00
Filing Documents
- tm2427404d1_6k.htm (6-K) — 10KB
- 0001104659-24-114042.txt ( ) — 11KB
From the Filing
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of: November 2024 Commission File Number: 000-53826 PLASTEC TECHNOLOGIES, LTD. (Translation of registrant’s name into English) c/o Unit 01, 21/F, Aitken Vanson Centre, 61 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong (Address of Principal Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F Form 40-F As previously disclosed, Plastec Technologies, Ltd. (the “Company”) was party to a Share Transfer Agreement (the “Transfer Agreement”), dated November 14, 2015, among the Company, Shanghai Yongli Belting Co., Ltd. (“SYB”) and its wholly-owned subsidiary, Shanghai Yongjing Investment Management Co., Ltd. (“SYIM”), pursuant to which SYIM purchased, through a to-be-formed wholly-owned Hong Kong subsidiary (the “HK Subsidiary”), the entirety of the Company’s shareholding interests in its then wholly-owned subsidiary, Plastec International Holdings Limited (“Plastec”). Pursuant to the Transer Agreement, the Company represented and warranted that Plastec was not subject to any tax disputes and if any tax disputes existed resulting in any losses and damages to Plastec, the Company would be fully responsible therefor. Broadway Precision Technology Limited, a subsidiary of the Plastec group (“Broadway Precision”), was previously in dispute with the Inland Revenue Department, the Tax Department in Hong Kong, for the tax assessment years 2020-2021 and 2021-2022 which amounts in dispute were related to the period up to 2017-2018. Broadway Precision has now settled such disputes and was obligated to pay an amount of HKD3,847,000 (the “Reimbursable Amount”). As a result, the Company has reimbursed Plastec such amount pursuant to the Transfer Agreement. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PLASTEC TECHNOLOGIES, LTD. By: /s/ Kin Sun Sze-To Name: Kin Sun Sze-To Title: Chief Executive Officer Dated: November 5, 2024