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>News>Subsidiary Announcement>Yuan-Ding Co., Ltd., FENC’s subsidiary, plans to acquire the right-of-use assets from a related party
Yuan-Ding Co., Ltd., FENC’s subsidiary, plans to acquire the right-of-use assets from a related party
From:

SEQ_NO

 2

Date of announcement

 2024/03/22

Time of announcement

 17:31:11

Subject

 Yuan-Ding Co., Ltd., FENC’s subsidiary, plans to

acquire the right-of-use assets from a related party

Date of events

  2024/03/22

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):

 The right-of-use assets: 18 pieces of the land and buildings at Land

 No. 786 in the Baiyun Section of Jiaoxi Township in Yilan County

2.Date of occurrence of the event:2024/03/22

3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping),

unit price, and total transaction price:

 Rental area of Land: 13,567 pings ; rental area of buildings: 16,006 pings

 Unit price: Starting from the opening date, the annual rent is

             NT$140,000,000, with an additional operating commission, for

             a duration of 20 years.

 Right-of-use assets: NT$ 2,345,517,000

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 Resources Development Co. Ltd.(FERD)

 (2)Relationship with the company:

    YDC and FERD are both FENC’s subsidiaries.

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)The hotel's location, size, and surroundings are better than those of

    nearby properties.

 (2)N/A

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):N/A

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 contract

 (2)The lease agreement should be reviewed six months before the hotel's

    soft opening.

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:

 Price negotiation / Market price / Board of Directors

10.Name of the professional appraisal firm or company and

its appraisal price:

 (1)DTZ/Cushman & Wakefield LLP

    NT$2,454,257,000

 (2)Honda Real Estate Appraiser Firm

    NT$ 2,432,220,000

11.Name of the professional appraiser:

 (1)Hank CH Tsai

 (2)Pin-Yu Chen

12.Practice certificate number of the professional appraiser:

 (1)(94) TCG_NO.000080

 (2)(105) TCG_NO.000236

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: Reanda M Y Wu & Co., CPAs

18.Name of the CPA: M.Y. Wu

19.Practice certificate number of the CPA:

  Order No. Financial-Supervisory-Securities-Auditing-1000036796

  of the Financial Supervisory Commission

20.Broker and broker's fee:NIL

21.Concrete purpose or use of the acquisition or disposal:

  As an office and operational site

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:2024/03/22

25.Date of ratification by supervisors or approval by

the audit committee:2024/03/22

26.The transaction is to acquire a real property or right-of-use

asset from a related party:Yes

27.The price assessed in accordance with the Article 16 of the

Regulations Governing the Acquisition and Disposal of Assets

by Public Companies: NT$2,863,243,853

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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