VANCOUVER, CANADA -- November 18, 2002 -- Nam Tai Electronics, Inc., (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) today reminded Warrant holders that its Warrants expire on Sunday, November 24, 2002 at 5:00 p.m. Eastern Time. Each Warrant is exercisable to purchase one Common Share of Nam Tai at a price of $20.40 per share.
The Warrants may be exercised before 5:00 p.m. Eastern Time on November 24, 2002 by presenting the Warrant certificate with the duly executed Purchase Form and simultaneous payment of the Warrant Price of $20.40 per share to the Warrant Agent, U.S. Stock Transfer Corporation at 1745 Gardena Avenue, Second Floor, Glendale, California, 91304, USA. Payment of the Warrant Price must be paid in full in cash, by certified check or bank draft payable in United States currency. Warrants not exercised before 5:00 p.m. Eastern Time on November 24, 2002 shall become void. Public trading of Warrants on the NASDAQ will cease after the close of trading on Friday, November 22, 2002.
As of September 30, 2002 there were 3,053,659 Warrants outstanding. The Warrants are traded on the NASDAQ National Market under the ticker symbol NTAIW.
$1.00 Per Share Special Dividend Reminder
A special dividend of $1.00 per common share will be paid on December 6, 2002 to shareholders of record at the close of business on November 29, 2002.
In addition to the special dividend of $1.00 per share, the Company will pay the regular fourth quarter dividend of $0.12 per share to shareholders of record at the close of business on December 31, 2002 with a payment date of January 21, 2003.
Nam Tai Electronics, Inc. is an electronics design and manufacturing service provider to some of the world’s leading original equipment manufacturers. Nam Tai manufactures telecommunication products, palm-sized PCs, personal digital assistants, linguistic products, calculators and various components including LCD modules and RF modules both for mobile phones, transformers and LCD panels. The Company utilizes advanced production technologies such as chip on board (COB), chip on glass (COG), chip on film (COF), surface mount technology (SMT), ball grid array (BGA), tape automated bonding (TAB), and outer lead bonding (OLB) technologies. Further information is available on Nam Tai’s web site at www.namtai.com.