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>News>Subsidiary Announcement>Far Eastern Resources Development, FENC’s subsidiary, plans to dispose land at Yadong Section of Banqiao District to the related party.
Far Eastern Resources Development, FENC’s subsidiary, plans to dispose land at Yadong Section of Banqiao District to the related party.
From:
SEQ_NO  1 Date of announcement  2023/11/03 Time of announcement  17:15:14
Subject
 Far Eastern Resources Development, FENC’s subsidiary,
plans to dispose land at Yadong Section of Banqiao
District to the related party.
Date of events   2023/11/03 To which item it meets paragraph 20
Statement
1.Name and nature of the underlying asset (e.g., land located at Sublot XX, Lot XX, 
  North District, Taichung City): 
  (1) Name: Lot No. 982 at Yadong Section of Banqiao District in New Taipei City 
 (2) Nature: Specific District II Used for Communications and Digital Purposes (B) 
2.Date of occurrence of the event:2023/11/03 
3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping), unit price,
  and total transaction price: 
  Household name: B-2F 
  Land: The holding area of 17.5959 square meters, equivalent to 5.32 pings
  Unit price: NT$2.163 million per ping 
  Transaction price: NT$11.515 million 
4.Trading counterparty and its relationship with the Company (if the trading counterparty
  is a natural person and furthermore is not a related party of the Company, the name of 
  the trading counterparty is not required to be disclosed): 
  Household name: B-2F 
  Trading counterparty: Norman Lin 
  Relationship with the Company: FENC’s manager 
5.Where the trading counterparty is a related party, announcement shall also be made 
  of the reason for choosing the related party as trading counterparty and the identity 
  of the previous owner, its relationship with the Company and the trading counterparty,
  and the previous date and monetary amount of transfer: 
  (1)Reason: Residential sales 
  (2)Owner of previous transfer: Far Eastern Textile Ltd. (renamed Far Eastern New
     Century Corporation, hereafter referred to as FENC). 
  (3)Relationship between the Company and counterparty: 
     Relationship with the Company: FERD is FENC's wholly owned subsidiary. 
     Relationship with the trading counterparty: FENC’s manager 
  (4)Previous transfer price: N/A (FENC spun off its land holdings and transferred to FERD)
  (5)Previous transfer date: 2004/6/10 
6.Where an owner of the underlying assets within the past five years has been a related party
  of the Company, the announcement shall also include the date and price of acquisition and 
  disposal by the related party, and its relationship with the Company at the time of the 
  transaction:N/A 
7.Projected gain (or loss) through disposal (not applicable for acquisition of assets; 
  those with deferral should provide a table explaining recognition): 
  The estimated disposal gain will be approximately NT$4.839 million. 
8.Terms of delivery or payment (including payment period and monetary amount), 
  restrictive covenants in the contract, and other important terms and conditions: 
  (1)Terms of delivery or payment:In accordance with the agreement 
  (2)Contractual restrictions and other important agreements:NIL 
9.The manner of deciding on this transaction (such as invitation to tender, 
  price comparison, or price negotiation), the reference basis for the decision on price,
  and the decision-making unit: 
  (1)The manner of deciding on this transaction: Price negotiation 
  (2)The reference basis for the decision on price: Market price 
  (3)The decision-making department: Board of Directors 
10.Name of the professional appraisal firm or company and its appraisal price:N/A 
11.Name of the professional appraiser:N/A 
12.Practice certificate number of the professional appraiser:N/A 
13.The appraisal report has a limited price, specific price, or special price:N/A 
14.An appraisal report has not yet been obtained:N/A 
15.Reason for an appraisal report not being obtained:N/A 
16.Reason for any significant discrepancy with the appraisal reports and opinion of the CPA:N/A 
17.Name of the CPA firm:N/A 
18.Name of the CPA:N/A 
19.Practice certificate number of the CPA:N/A 
20.Broker and broker's fee: 
   Newland Harmony Advertising Co., Ltd. with broker's fee around NT$0.479 million 
21.Concrete purpose or use of the acquisition or disposal: Residential sales 
22.Any dissenting opinions of directors to the present transaction:NIL 
23.Whether the counterparty of the current transaction is a related party:Yes 
24.Date of the board of directors resolution:2023/11/03 
25.Date of ratification by supervisors or approval by the audit committee:2023/11/03 
26.The transaction is to acquire a real property or right-of-use asset from a related party:No 
27.The price assessed in accordance with the Article 16 of the Regulations Governing
  the Acquisition and Disposal of Assets by Public Companies:N/A 
28.Where the above assessed price is lower than the transaction price, 
the price assessed in accordance with the Article 17 of the same regulations:N/A 
29.Any other matters that need to be specified:NIL

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