Regulations Governing Information to be Published in Public Tender Offer Prospectuses Article 7
The section on type(s) and source(s) of public tender offer consideration shall include the following items:1. If consideration is paid in cash:A. If the consideration is the offeror's own funds, the prospectus shall specify the investment framework, the backgrounds of the investors at each tier, the concrete sources and details of the funds, including the identities of the ultimate providers of the funds and the plans relating to the funds arrangements. If the public tender offeror is a company and pays the tender offer consideration with the company's own funds, it shall explain the reasonableness of the source of the funds for this tender based on an analysis of solvency, cash flow, and profitability as shown in the financial reports from the most recent 2 fiscal years prior to the public announcement of this public tender offer.B. If financing is to be used in the purchase of the securities, the prospectus shall provide a detailed description of all financing plans, to include the source of the borrowed funds, the lender and the borrower, and the collateral. If the assets or shares of the subject company, or of the surviving company in the case of a merger, are listed as collateral in the tender offeror's loan repayment plan, the prospectus shall disclose the collateralization terms, and give an assessment of the impact on the financial and operational soundness of the subject company, or of the surviving company in the case of a merger. If none of the above-mentioned exists, the tender offeror shall make a declaration to that effect.2. If securities set out in Article 8, paragraph 1, of the Regulations Governing Tender Offers for Purchase of the Securities of a Public Company will be paid as consideration for the acquisition, the prospectus shall include:A. The names and types of securities to be paid as tender offer consideration, their average prices and trading volumes over the most recent three months, and their closing prices on the day prior to filing.B. The time and cost at which the public tender offeror obtained the securities.C. The method for determining the share exchange ratio, and the factors that were weighed in making the determination.3. If securities set out in Article 8, paragraph 2, of the Regulations Governing Tender Offers for Purchase of the Securities of a Public Company will be paid as tender offer consideration, the prospectus shall include:A. The minutes of the directors' or shareholders' meeting where it was resolved to offer and issue shares or corporate bonds.B. The terms and conditions of issuance applying to the offering and issuance of the shares or bonds.C. If shares of the same type as those to be offered and issued by the public tender offeror are already being traded on a centralized securities exchange market or an over-the-counter market, the prospectus shall disclose the average price and trading volume over the most recent three months, and the closing price on the day prior to filing.D. The method for determining the share exchange ratio, and the factors that were weighed in making the determination.E. The company's financial reports for the past two fiscal years; where the company has been in business for less than two years, the prospectus shall include the financial reports for the fiscal year(s) during which the company has been in business.F. Its most recently published financial report audited and certified or reviewed by a CPA.G. An explanation shall be provided for any material changes in the company's financial or business operations that have occurred between the date of the balance sheet in its most recently submitted financial report and the date on which it filed the public tender offer. If there have been no material changes, the public tender offeror shall make a declaration of no material changes.H. A statement describing the projected effect of the acquisition of the subject securities upon the financial and business operations of the public tender offeror over the three-year period following acquisition.If a public tender offeror will pay the consideration in cash under subparagraph 1 of the preceding paragraph, it shall provide a written undertaking that it bears the obligation to perform payment of the tender offer consideration, along with the documentation of all agreements or covenants in connection with the funds arrangement, which shall be included together with the public announcement of the prospectus.
中文原文 公開收購說明書應行記載事項準則第7條
公開收購對價種類及來源應記載下列事項：
一、以現金為收購對價者：
（一）以自有資金為收購對價者，應詳細說明投資架構、各層次投資人背景、資金之具體來源及明細，包含資金最終提供者之身分及相關資金安排計畫。
公開收購人為公司且以公司自有資金支付收購對價者，應以本次公開收購公告前最近二年度之財務報告，按償債能力、現金流量及獲利能力等分析說明本次收購資金來源之合理性。
（二）如有以融資方式取得者，應詳細載明所有融資計畫內容，包含融資資金來源、借貸雙方、擔保品等。
若收購人融資償還計畫係以被收購公司或合併後存續公司之資產或股份為擔保者，應載明該約定內容及對被收購公司或合併後存續公司財務業務健全性之影響評估，如無上述情形，收購人應作出無此情形之聲明。
二、以公開收購公開發行公司有價證券管理辦法第八條第一款規定之有價證券為收購對價者：
（一）作為收購對價之有價證券名稱、種類、最近三個月內之平均價格、成交量及提出申報前一日之收盤價格。
（二）公開收購人取得該有價證券之時間及成本。
（三）本次收購對價換股比例訂定方式及決定因素。
三、以公開收購公開發行公司有價證券管理辦法第八條第二款規定之有價證券為收購對價者：
（一）決議募集發行股票或公司債之董事會或股東會議事錄。
（二）本次募集發行股票或公司債之發行條件。
（三）公開收購人募集發行之股票已有同種類股票於證券集中交易市場或證券商營業處所買賣者，該股票最近三個月內之平均價格、成交量及提出申報前一日之收盤價格。
（四）本次收購對價換股比例訂定方式及決定因素。
（五）最近二會計年度之財務報告，開業不及二年者，以所有開業年度者為限。
（六）最近期公告並經會計師查核簽證或核閱之財務報告。
（七）自所檢附最近期財務報告資產負債表日至提出申報前，有任何財務及業務上之重大改變，均應提出說明，如無重大改變，公開收購人亦應作出無重大改變之聲明。
（八）取得被收購有價證券後三年內對公開收購人本身財務及業務影響之說明書。
公開收購人應出具負履行支付收購對價義務之承諾書，如依前項第一款以現金為收購對價者，應連同資金安排之所有協議或約定之文件，併同公開收購說明書公告。
一、以現金為收購對價者：
（一）以自有資金為收購對價者，應詳細說明投資架構、各層次投資人背景、資金之具體來源及明細，包含資金最終提供者之身分及相關資金安排計畫。
公開收購人為公司且以公司自有資金支付收購對價者，應以本次公開收購公告前最近二年度之財務報告，按償債能力、現金流量及獲利能力等分析說明本次收購資金來源之合理性。
（二）如有以融資方式取得者，應詳細載明所有融資計畫內容，包含融資資金來源、借貸雙方、擔保品等。
若收購人融資償還計畫係以被收購公司或合併後存續公司之資產或股份為擔保者，應載明該約定內容及對被收購公司或合併後存續公司財務業務健全性之影響評估，如無上述情形，收購人應作出無此情形之聲明。
二、以公開收購公開發行公司有價證券管理辦法第八條第一款規定之有價證券為收購對價者：
（一）作為收購對價之有價證券名稱、種類、最近三個月內之平均價格、成交量及提出申報前一日之收盤價格。
（二）公開收購人取得該有價證券之時間及成本。
（三）本次收購對價換股比例訂定方式及決定因素。
三、以公開收購公開發行公司有價證券管理辦法第八條第二款規定之有價證券為收購對價者：
（一）決議募集發行股票或公司債之董事會或股東會議事錄。
（二）本次募集發行股票或公司債之發行條件。
（三）公開收購人募集發行之股票已有同種類股票於證券集中交易市場或證券商營業處所買賣者，該股票最近三個月內之平均價格、成交量及提出申報前一日之收盤價格。
（四）本次收購對價換股比例訂定方式及決定因素。
（五）最近二會計年度之財務報告，開業不及二年者，以所有開業年度者為限。
（六）最近期公告並經會計師查核簽證或核閱之財務報告。
（七）自所檢附最近期財務報告資產負債表日至提出申報前，有任何財務及業務上之重大改變，均應提出說明，如無重大改變，公開收購人亦應作出無重大改變之聲明。
（八）取得被收購有價證券後三年內對公開收購人本身財務及業務影響之說明書。
公開收購人應出具負履行支付收購對價義務之承諾書，如依前項第一款以現金為收購對價者，應連同資金安排之所有協議或約定之文件，併同公開收購說明書公告。