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NAM TAI ELECTRONICS, INC. INVESTS IN DESWELL INDUSTRIES INC. HONG KONG (September 20, 2000) - Deswell Industries, Inc. (Nasdaq NM Symbol: DSWL) ("the Company") today announced that Nam Tai Electronics, Inc. (Nasdaq NM Symbol: NTAI) has agreed to purchase 500,000 Common Shares of the Company. The 500,000 Common Shares is being purchased by Nam Tai Electronics, Inc. from Leesha Holdings Ltd., a principal shareholder of the Company. The transaction is expected to close on September 26, 2000. Leesha Holdings Ltd. has advised the Company that it plans to distribute proceeds from the sale to Leesha's shareholders, Messrs. Richard Lau, C. P. Li and C.W. Leung, who in turn plan to exercise outstanding options they hold to purchase Common Shares of the Company. The securities being sold by Leesha to Nam Tai Electronics have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
This release contains forward-looking statements that involve risks and uncertainties. Actual results may differ from those expected. Readers are referred to the documents filed by the Company with the SEC which may identify risks that could cause actual results to differ from the forward-looking statements.
John
Nesbett, ext. 303 |
