Investors Beware: One Stock to Delist on September 1 — 245 Large Shareholders Still Holding, Final Trading Date Revealed

Taiwan's financial market has reached a major milestone in consolidation. The Financial Supervisory Commission has officially approved E.Sun Financial Holding's (2884) acquisition of 100% of T.S. Life (2867), marking the final execution phase of this highly anticipated financial merger. Both parties have set September 1 as the share conversion benchmark date, on which T.S. Life will cease its listing status and become a wholly-owned life insurance subsidiary under E.Sun Financial, to be renamed 'E.Sun Life' starting December 1, reshaping Taiwan's financial holding landscape. With the share exchange and delisting schedule now confirmed, the stock trading timeline most watched by investors has also become clear. According to the latest announcement, the final trading day for T.S. Life shares will be August 19. Trading will be suspended from August 20 to September 1, and August 21 will be the last share transfer date. On September 1, the share conversion benchmark date, T.S. Life shares will cease trading and fully exit the Taiwan stock market. Why Are Large Shareholders Holding On Until the End? Full Analysis of the Updated Share Exchange Ratio and Shareholder Rights According to the latest statistics from the Taiwan Central Depository as of August 7, T.S. Life has a total of 64,717 shareholders. Notably, despite the approaching final trading deadline, share concentration remains high, with 245 major shareholders holding over 1,000 shares each still active in the market. Shares held by these heavyweight investors and general shareholders will all be converted into E.Sun Financial common shares according to regulations. To protect shareholder rights, the final share exchange ratio has been optimized, increasing from the initially announced 0.2486 E.Sun shares per T.S. Life share to 0.2596 E.Sun shares per T.S. Life share, delivering tangible benefits to T.S. Life shareholders. How Will This Merger Reshape the Financial Holding Rankings? E.Sun's Assets Surpass NT$6.53 Trillion, Jumping to 5th Largest Looking back at the timeline of this major merger, E.Sun Financial and T.S. Life each passed the share conversion resolution on November 5, 2025, and successfully held an extraordinary shareholders' meeting on January 23, 2026, to approve the share transfer agreement. E.Sun Financial then submitted its application to the FSC on May 8 this year, which completed its review and granted formal approval on July 7, indicating a tight and smooth progression. By successfully bringing T.S. Life under its umbrella, E.Sun Financial has completed a crucial missing piece in its development — life insurance — and instantly built a comprehensive, full-service financial service matrix covering financial holding, banking, insurance, securities, and asset management. Market estimates suggest that after the merger, E.Sun Financial's total asset size will surpass NT$6.53 trillion, significantly jumping to the 5th largest among listed financial holding companies in Taiwan, greatly enhancing its market competitiveness. Will Existing Policyholders Be Affected? Company Emphasizes No Changes to Coverage and Terms Regarding the policy benefits most concerning to T.S. Life's millions of policyholders, E.Sun Financial has stepped forward to clarify and dispel concerns, emphasizing that the change in ownership and company renaming will not affect policyholder rights. After the share conversion and subsequent rebranding, all existing insurance contracts signed by T.S. Life policyholders will remain unchanged, with original coverage, payout terms, and conditions unaffected. This assurance undoubtedly provides peace of mind to policyholders, ensuring seamless continuity and comprehensive protection of services and rights throughout the corporate restructuring process.