Today, November 10th, 2022, the Audit Committee and the Board of Directors of PlayNitride Inc. had approved the proposed cooperation agreement between PlayNitride Display Co., Ltd. (hereinafter “PlayNitride Display”), a subsidiary of PlayNitride Inc. , and Epistar Corporation (hereinafter “Epistar”). PlayNitride Display and Epistar have been negotiating to enter a cooperation agreement (hereinafter “Cooperation Agreement”), under which PlayNitride Display shall collaborate with Epistar in building a 6” Micro LED Chip-On-Wafer (COW) production line at the site designated by Epistar. In consideration for PlayNitride Display’s collaboration and services provided under the Cooperation Agreement, Epistar shall pay PlayNitride Display a total of NT$600 million.
The Board of Directors further authorize the Chairman of PlayNitride Inc., or a person designated by the Chairman, to negotiate, amend and execute on behalf of PlayNitride Display the Cooperation Agreement and relevant documents with Epistar, and to handle any matters or acts relevant to carry out the purposes of, but not otherwise provided or addressed under, the Cooperation Agreement with full power and authority.
PlayNitride Display is the 100%-owned subsidiary of PlayNitride Inc. The company continues to launch various Micro LED products, including large-size panels, automotive products, wearable devices, etc. Epistar is a leading global LED chip manufacturer which has formed a long-term partnership with PlayNitride Display. To meet the need of the fast-growing market and the strong demand of production capacity, PlayNitride Display had carefully evaluated and communicated with the world’s best LED technology companies for Micro LED related cooperation. PlayNitride Display expects that under the cooperation, the capacity and efficiency of both companies can be improved, accelerating the development of Micro LED industry. PlayNitride Inc. will continue to invest in the development of Micro LED, the ultimate display technology.
PlayNitride Inc. Official Website: https://www.playnitride.com/en/
PlayNitride Inc. Spokesperson and COO
Mr. Joe Chen
Tel: 886-37-586610 | E-mail: Joechen@playnitride.com
PlayNitride Inc. Deputy Spokesperson and Director
Miss Arco Chen
Tel: 886-37-586610 ext.802 | E-mail: Arcochen@playnitride.com
