|SEQ_NO||3||Date of announcement||2022/08/10||Time of announcement||18:49:06|
Far Eastern Resources Development, FENC’s subsidiary, plans to dispose land at Ya Dong Section of Banqiao District to Far Eastern Medical Foundation.
|Date of events||2022/08/10||To which item it meets||paragraph 20|
1.Name and nature of the underlying asset (e.g., land located at Sublot XX, Lot XX, North District, Taichung City): (1)Name:18 pieces of raw land at Ya Dong Section of Banqiao District in New Taipei City, such as Lot No. 998-8 (2)Nature:Specific District I Used for Communications and Digital Purposes (E) 2.Date of occurrence of the event:2022/08/10 3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping), unit price, and total transaction price: (1)Land: 6,906 square meters, equivalent to 2,089.065 pings. (2)Unit price: NT$1.096 million per ping (3)Total transaction price: NT$2,289,615,000 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): (1)Trading counterpart:Far Eastern Medical Foundation (FEMF) (2)Relationship with the company:Same Chairman of Far Eastern Resources Development (FERD) and FEMF 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: A.The reason for choosing the trading counterpart: FEMF plans to purchase the land in the neighborhood from FERD for its future development plan. B.The identity of the previous owner: (1)Far Eastern Textile Ltd. (renamed Far Eastern New Century Corporation, hereafter referred to as FENC). (2)Asia Eastern School Legal Person (AESLP) C.Relationship with the company : (1)FERD is FENC's wholly owned subsidiary. Same Chairman of AESLP & FERD. (2)Relationship with the trading counterpart: Same Chairman for both parties. D.The previous price of transfer: (1)N/A (FENC spun off its land holdings and transferred to FERD). (2)NT$1,277,755,000 (Land swaps between FERD & AESLP). E.The previous date of acquisition: (1)2004/6/10 (FENC spun off its land holdings and transferred to FERD). (2)2022/6/30 (Land swaps between FERD & AESLP). 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: (1)N/A (FENC spun off its land holdings and transferred to FERD). (2)Land swaps between FERD & AESLP: Acquisition date: 2015/2/2 Acquisition price: NT$1,080,748,000 Disposal date: 2022/6/30 Disposal price: NT$1,277,755,000 Same Chairman for both parties. 7.Projected gain (or loss) through disposal (not applicable for acquisition of assets; those with deferral should provide a table explaining recognition): Disposal gain will be recognized approximately NT$ 22,980,000. 8.Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important terms and conditions: (1)In accordance with the agreement (2)The transaction amount will be paid in eight payments. After the land title transferred, FEMF will set the first mortgage of a land in NT$2,747,538,000 to FERD. The interest will be paid semi-annually on the outstanding balance of the mortgage. The relevant details are in accordance with the agreement. 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)Price negotiation (2)The land evaluation reports (3)Board of Directors 10.Name of the professional appraisal firm or company and its appraisal price: (1)DTZ/Cushman & Wakefield LLP Appraisal price:NT$2,285,437,000 (2)Colliers International Appraisal price:NT$2,235,300,000 (3)Savills plc Appraisal price:NT$2,360,643,000 (4)Sinyi Real Estate Appraisers Firm Appraisal price:NT$2,277,081,000 11.Name of the professional appraiser: (1)DTZ/Cushman & Wakefield LLP Hank CH Tsai, the Real Estate Appraiser: (94) TCG_NO.000080 (2)Colliers International Feng-Ju Ko, the Real Estate Appraiser: (103) TCG_NO.000203 (3)Savills plc Howard Chang, the Real Estate Appraiser: (96) TCG_NO.000107 (4)Sinyi Real Estate Appraisers Firm Wei-Hsin Chih, the Real Estate Appraiser: (91) TCG_NO.000001 12.Practice certificate number of the professional appraiser:As above 13.The appraisal report has a limited price, specific price, or special price:No 14.An appraisal report has not yet been obtained:No 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:NIL 21.Concrete purpose or use of the acquisition or disposal: FEMF plans to purchase the land in the neighborhood from FERD for its future development plan. 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:2022/08/10 25.Date of ratification by supervisors or approval by the audit committee:2022/08/10 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