Letter To Shareholders - Mitac

C. The appropriation of 2008 and 2007 earnings had been resolved at the
shareholders' meeting on June 10, 2009 and June 25, 2008, respectively.
Details are summarized below:
2008 2007
Amount
Dividends per
share (in dollars) Amount
Dividends per
share (in dollars)
Legal reserve $ 45,929 $ - $ 564,826 $ -
Stock dividends - - 578,808 0.3999
Cash dividends 305,204 0.2 2,025,829 1.3998
Directors’ and
supervisors’
remuneration - - 6,000 -
Employees’ stock
bonus - - 203,337 -
Employees’cash bonus - - 305,006 -
Total $ 351,133 $ 0.2 $ 3,683,806 $ 1.7997
The amounts of employees’ bonus and directors’ and supervisors’ remuneration
of 2008 are $20,773 and $2,000, respectively. Employees’ bonus and directors’
and supervisors’ remuneration of 2008 as resolved by the stockholders were in
agreement with those amounts recognized in the 2008 financial statements.
The appropriation of 2008 and 2007 earnings had been resolved at the
shareholders’ meeting and coincided with the proposal by the Board of Directors.
on April 24, 2009 and on April 21, 2008. As of April 9, 2010, the Company had
not yet held the meeting of Board of Directors to discuss the earnings
distribution proposal for 2009. Information on the appropriation as resolved by
the Board of Directors and approved by the stockholders will be posted in the
“Market Observation Post System” at the website of the Taiwan Stock Exchange.
The estimated amounts of employees’ bonus and directors’ and supervisors’
remuneration of 2009 are $13,012 and $2,000, respectively, and are recognized
as operating costs or operating expeneses for 2009. The basis of estimates for
employees’ bonus is based on a 5% percentage (as prescribed by the Company’s
Articles of Incorporation) of net income in 2009 after taking into account the
legal reserve and other factors.
Information on the appropriation of the Company’s employees’ bonus and
directors’ and supervisors’ remuneration as resolved by the Board of Directors
and approved by the stockholders will be posted in the “Market Observation Post
System” at the website of the Taiwan Stock Exchange. If the accrued amounts
for employees’ bonus and directors’ and supervisors’ remuneration are different
from the actual distributed amounts resolved by the stockholders at their annual
stockholders’ meeting subsequently, the differences shall be recognized as gain
or loss in the following year.
~118~