VANCOUVER, CANADA -- November 27, 2002 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI) today announced that the Company raised approximately $29.8 million from the exercise of 1,460,655 Warrants. The Warrants, which expired on November 24, 2002, allowed holders to acquire one Nam Tai Common Share at $20.40 per share. The Company as part of its 1997 Rights and Standby Offering issued approximately 3 million Warrants.
$1.00 Per Common 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 for cellular phones, transformers and LCD panels. The Company utilises 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.