Asus 2007 Annual Report Download - page 109
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105
ASUSTEK COMPUTER INC.
Notes to Non-Consolidated Financial Statements (Unaudited)
(In New Taiwan thousand dollars unless otherwise stated)
21
(3) ECB I that has been repurchased or converted into the Company’s capital stocks from
the issued date to March 31, 2008 and 2007, respectively, are as follows:
2008 2007
Converted shares Converted amount Converted shares Converted amount
1/1 96,390,052 shares USD 223,271,000 45,602,571 shares USD112,456,000
1/1~3/31 3,529,551 shares 7,535,000 5,012,766 shares 11,235,000
Total 99,919,603 shares USD 230,806,000 50,615,337 shares USD 123,691,000
(4) On November 7, 2006, the Company issued zero coupon rate domestic non-collateral
convertible bonds with a total face value of $12,000,000 thousand. According to the
R.O.C. SFAS No. 36 “Disclosure and Presentation of Financial Instruments”, the
Company separated the equity component from the liability component. The equity
component is recognized as “Additional paid-in capital-stock option”. The liability
component recognized as “Financial liabilities at fair value through profit or
loss-noncurrent,”contains a derivative attribute and is measured at fair value totaling
$89,947 thousand and $169,200 thousand for the three-month periods ended on March
31, 2008 and 2007, respectively. The liability component recognized as “Bonds
payable”, simply contains bond attribute and is measured by amortized cost, totaling
$11,137,818 thousand and $10,906,630 thousand on March 31, 2008 and 2007,
respectively.
The main issuance terms of the domestic non-collateral convertible bonds are as
follows:
A. Duration of issuance: from November 7, 2006 to November 7, 2011.
B. Conversion period: Each bondholder has the right to convert all or from time to
time any portion of its convertible bonds into common shares during the conversion
period (up to 31 days after the original issued date to 10 days before the maturity
date).
C. Conversion price and adjustment: The conversion price is NT$105.4 per common
share initially. The conversion price will be adjusted upon the occurrence of
increasing shares of common stock. Also, the conversion price will be reset in
accordance with certain conversion terms. The conversion price was subsequently
diluted to NT$96.4 per common share.
D. Call option: The Company could redeem the convertible bonds at its par value at
any time during the period from December 8, 2006 to September 28, 2011 under the
following conditions: (i) the closing price of the common shares on each of 30
consecutive trading days reaches or exceeds 50% of the conversion price, or (ii) the
outstanding balance is less than 10% of the original issuance.