Polaris Pharmaceuticals-KY Announces Capital Reduction to Offset Losses
Polaris Pharmaceuticals-KY announced on May 15, 2026, that its shareholders' meeting approved a capital reduction to offset accumulated losses. The company plans to reduce its capital by NT$4.299 billion, canceling 429.94 million shares, resulting in a 50% reduction. This move aims to improve the financial structure, reducing the accumulated loss of NT$4.735 million as of December 31, 2025. The post-reduction registered capital will be NT$4.299 billion. The specific implementation details, including the reduction base date and share exchange plan, will be determined by the chairman after approval from the competent authority and the 2026 shareholders' meeting. Creditors have until June 18, 2026, to raise any objections.
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- 📰 Published: May 16, 2026 at 12:57
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Announcement Date: 115/05/16
Announcement Time: 115/05/15 21:15:23
Company Code: 6550
Company Name: Polaris Pharmaceuticals-KY
Subject: Our company's 115th Annual Shareholders' Meeting resolved to implement a capital reduction to offset losses.
Notice to Creditors
Applicable Clause: Clause 51
Date of Event: 115/05/15
Description:
1. Date of Event: 115/05/15
2. Company Name: Polaris Pharmaceuticals Group Co., Ltd.
3. Relationship with Company (Enter 'Parent Company' or 'Subsidiary'): Parent Company
4. Proportion of Mutual Shareholding: Not applicable
5. Reason for Event: The company's Annual Shareholders' Meeting on May 15, 115, resolved to implement a capital reduction to offset losses.
6. Countermeasures:
(1) To improve the financial structure, the amount and ratio of capital reduction: As of December 31, 2025, the company's accumulated losses on record amount to NT$4,735,327,000. It is proposed to reduce capital by NT$4,299,463,440 in accordance with relevant regulations, canceling 429,946,344 ordinary shares, representing a capital reduction ratio of 50%, meaning 500 ordinary shares will be deducted for every 1,000 shares (i.e., 500 new shares will be issued for every 1,000 old shares).
(2) The company's total authorized capital is set at NT$20,000,000,000, divided into 2,000,000,000 shares, with a par value of NT$10 per share. The paid-in capital is NT$8,598,926,880, with 859,892,688 shares issued. The shares to be canceled due to capital reduction are expected to be reduced by 500 shares per 1,000 shares (500 shares issued per 1,000 shares) based on the shareholder register on the record date for capital reduction. Fractional shares less than one share after reduction may be handled by shareholders themselves by registering to combine shares with the company's stock agent from 5 days before the book closure date to the day before the book closure date. Fractional shares that are not combined or still less than one share after combination, (in coordination with uncertificated book-entry transfer operations, for shareholders with shares in book-entry custody, the aforementioned fractional share proceeds will be used to offset the costs of book-entry custody) will be authorized for the chairman to negotiate with specific persons for subscription at par value.
(3) After the capital reduction, the paid-in capital will be NT$4,299,463,440, with a par value of NT$10 per share, and 429,946,344 shares issued. The rights and obligations of the new shares after capital reduction will be the same as those of the existing ordinary shares.
(4) This proposal, after being approved by the 2026 Annual Shareholders' Meeting and submitted to the competent authority for approval, will authorize the chairman to set the capital reduction base date, share exchange plan, record date for share exchange, and other related matters for the capital reduction.
(5) If the company's share capital changes subsequently, affecting the number of outstanding shares and causing the capital reduction ratio to change or require adjustment, or if there are changes or amendments due to legal revisions, regulatory adjustments, or objective environmental needs, or if there are any unaddressed matters, it is proposed to authorize the chairman to handle all such matters with full authority at the 2026 Annual Shareholders' Meeting.
(6) Creditors of the company who have objections to the aforementioned capital reduction matters should submit their objections in writing to the company, along with proof of debt, from May 18, 115, to June 18, 115 (postmark date as proof for mailed submissions). The receiving address is: Polaris Pharmaceuticals Group Co., Ltd., 7th Floor, No. 298, Ruiguang Road, Neihu District, Taipei City. Submissions received after the deadline will be deemed as no objection. This notice is hereby given.
(7) In accordance with Article 281, and Articles 73 and 74 of the Company Act, a notice to creditors is hereby issued.
7. Other matters to be stated (If the subject of the event or resolution is a publicly issued company or above, this major information also meets the requirements of Article 7, Paragraph 9 of the Enforcement Rules of the Securities Transaction Act regarding matters that have a significant impact on shareholder equity or securities prices):
None
Announcement Time: 115/05/15 21:15:23
Company Code: 6550
Company Name: Polaris Pharmaceuticals-KY
Subject: Our company's 115th Annual Shareholders' Meeting resolved to implement a capital reduction to offset losses.
Notice to Creditors
Applicable Clause: Clause 51
Date of Event: 115/05/15
Description:
1. Date of Event: 115/05/15
2. Company Name: Polaris Pharmaceuticals Group Co., Ltd.
3. Relationship with Company (Enter 'Parent Company' or 'Subsidiary'): Parent Company
4. Proportion of Mutual Shareholding: Not applicable
5. Reason for Event: The company's Annual Shareholders' Meeting on May 15, 115, resolved to implement a capital reduction to offset losses.
6. Countermeasures:
(1) To improve the financial structure, the amount and ratio of capital reduction: As of December 31, 2025, the company's accumulated losses on record amount to NT$4,735,327,000. It is proposed to reduce capital by NT$4,299,463,440 in accordance with relevant regulations, canceling 429,946,344 ordinary shares, representing a capital reduction ratio of 50%, meaning 500 ordinary shares will be deducted for every 1,000 shares (i.e., 500 new shares will be issued for every 1,000 old shares).
(2) The company's total authorized capital is set at NT$20,000,000,000, divided into 2,000,000,000 shares, with a par value of NT$10 per share. The paid-in capital is NT$8,598,926,880, with 859,892,688 shares issued. The shares to be canceled due to capital reduction are expected to be reduced by 500 shares per 1,000 shares (500 shares issued per 1,000 shares) based on the shareholder register on the record date for capital reduction. Fractional shares less than one share after reduction may be handled by shareholders themselves by registering to combine shares with the company's stock agent from 5 days before the book closure date to the day before the book closure date. Fractional shares that are not combined or still less than one share after combination, (in coordination with uncertificated book-entry transfer operations, for shareholders with shares in book-entry custody, the aforementioned fractional share proceeds will be used to offset the costs of book-entry custody) will be authorized for the chairman to negotiate with specific persons for subscription at par value.
(3) After the capital reduction, the paid-in capital will be NT$4,299,463,440, with a par value of NT$10 per share, and 429,946,344 shares issued. The rights and obligations of the new shares after capital reduction will be the same as those of the existing ordinary shares.
(4) This proposal, after being approved by the 2026 Annual Shareholders' Meeting and submitted to the competent authority for approval, will authorize the chairman to set the capital reduction base date, share exchange plan, record date for share exchange, and other related matters for the capital reduction.
(5) If the company's share capital changes subsequently, affecting the number of outstanding shares and causing the capital reduction ratio to change or require adjustment, or if there are changes or amendments due to legal revisions, regulatory adjustments, or objective environmental needs, or if there are any unaddressed matters, it is proposed to authorize the chairman to handle all such matters with full authority at the 2026 Annual Shareholders' Meeting.
(6) Creditors of the company who have objections to the aforementioned capital reduction matters should submit their objections in writing to the company, along with proof of debt, from May 18, 115, to June 18, 115 (postmark date as proof for mailed submissions). The receiving address is: Polaris Pharmaceuticals Group Co., Ltd., 7th Floor, No. 298, Ruiguang Road, Neihu District, Taipei City. Submissions received after the deadline will be deemed as no objection. This notice is hereby given.
(7) In accordance with Article 281, and Articles 73 and 74 of the Company Act, a notice to creditors is hereby issued.
7. Other matters to be stated (If the subject of the event or resolution is a publicly issued company or above, this major information also meets the requirements of Article 7, Paragraph 9 of the Enforcement Rules of the Securities Transaction Act regarding matters that have a significant impact on shareholder equity or securities prices):
None
FAQ
What is the main purpose of the capital reduction?
The capital reduction is to offset accumulated losses and improve the company's financial structure.
How much will the company's capital be reduced?
The capital will be reduced by NT$4.299 billion, which is a 50% reduction of the issued shares.
What is the current accumulated loss?
As of December 31, 2025, the accumulated loss was NT$4.735 million.
When can creditors raise objections?
Creditors can raise objections from May 18, 2026, to June 18, 2026, by submitting written documentation with proof of debt.
When will the capital reduction be finalized?
The capital reduction will be finalized after approval from the competent authority and the 2026 shareholders' meeting, with the chairman authorized to set the specific dates and procedures.