REG - Hon Hai Prec.Ind.Co - Explain media reporting

Hon Hai Precision Industry CoAnnouncement

28/06/2023 08:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230628:nRSb2118Ea&default-theme=true

RNS Number : 2118E  Hon Hai Precision Industry Co Ld  28 June 2023

Subject: Explain media reporting

Date of events:2023/06/28

Contents:

1.Date of occurrence of the event:2023/06/28

2.Company name:Hon Hai Precision Ind. Co. Ltd.

3.Relationship with the Company (please enter "the company itself"
or"subsidiaries"):the company itself

4.Reciprocal shareholding percentage:NA

5.Name of the reporting media:Commercial Times

6.Content of the report:

US EV company Lordstown Motors Corp. (LMC) files for bankruptcy and sues Hon
Hai for fraud and breach of investment agreement. Hon Hai says it reserves the
right to pursue legal actions against false and malicious comments and also
suspends subsequent negotiations.

7.Cause of occurrence:NA

8.Countermeasures:

Hon Hai Technology Group (Foxconn) ("the Company") has been holding a positive
attitude in conducting constructive negotiations with Lordstown Motors Corp
(LMC) and in assisting LMC in finding a solution to its financial
difficulties. However, during this time, LMC has continuously attempted to
mislead the public and has been reluctant to perform the investment agreement
between the two parties in accordance with its terms.

Foxconn originally hoped to continue discussions and reach a solution that
could satisfy all stakeholders, without resorting to baseless legal actions,
but so far the two parties have yet to reach a consensus.

Regarding LMC's litigation announcement today and the false comments and
malicious attacks made by LMC in its external statements against Foxconn, the
Company reserves the right to pursue legal actions and also suspends
subsequent good faith negotiations.

9.Any other matters that need to be specified:None

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCNKFBPABKKAAB