SEQ_NO | 2 | Date of announcement | 2014/12/09 | Time of announcement | 19:31:31 |
Subject |
The exchange of land between FENC’s subsidiary FERD and OIT (Supplementary announcement for October 1, 2014 material information). |
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Date of events | 2014/12/09 | To which item it meets | article 2 paragraph 20 | ||
Statement |
1.Name and nature of the subject matter (e.g.land located at Sublot XX, Lot XX, North District, Taichung City): Swap out: 12 pieces of raw land at Ya Dong Section of Banqiao District (such as lot No. 998-9). 2.Date of the occurrence of the event:2014/12/09 3.Transaction volume (e.g.XX square meters, equivalent to XX p'ing), unit price, total transaction price: Swap out: (1) Land area: 3,978.00 square meters (equivalent to 1,203.35 pings). (2) Unit price: NT$ 0.93 million per ping. (3) Total transaction price: NT$ 1,115.20 million. Cash payment: NT$ 777.17 million. Swap in: (1) Land area: Xin Ya Section: 2,473.00 square meters (equivalent to 748.08 pings), Ya Dong Section: 1,505.00 square meters (equivalent to 455.26 pings). (2) Unit price: Xin Ya Section: NT$ 2.08 million per ping, Ya Dong Section: NT$ 0.73 million per ping. (3) Total transaction price: NT$ 1,892.37 million. 4.Counterparty to the trade and its relationship with the company (if the trading counterpart is a natural person and is not an actual related party of the Company, the name of the trading counterpart is not required to be disclosed): (1) Trading counterpart: Oriental Institute of Technology (hereafter referred to as OIT). 2) Relationship with the company: Far Eastern Resources Development Co., Ltd. (hereafter referred to as FERD) & OIT have the same chairman. 5.Where the counterpart to the trade is an actual related party, a public announcement shall also include the reason for choosing the related party as trading counterpart and the identity of the previous owner (including its relationship with the company and the trading counterpart), price of transfer and the date of acquisition: Swap out: (1) In response to the needs of its campus development plans, OIT settled a land-swap agreement with FERD for land within proximity of its campus. FERD will exchange for land of developable value. (2) Far Eastern Textile Ltd. (renamed Far Eastern New Century Corporation, hereafter referred to as FENC). (3) Relationship with the company: FERD is FENC’s subsidiary. Trading counterpart: Same chairman for both parties. (4) Not applicable (FENC spun off its holdings of land and transferred such holdings to FERD). (5) 2003. Swap in: (1) Same as above. (2) FENC: 7 pieces of raw land at Xin Ya Section (such as lot No. 1045), 3 pieces of raw land at Ya Dong Section (such as lot No. 1012-1). National Property Administration, Ministry of Finance: Ya Dong Section lot No. 1011. Taoyuan Irrigation Association: Ya Dong Section lot No. 1071-1. (3) Relationship with the company: FERD is FENC’s subsidiary. Trading counterpart: Same chairman for both parties. (4) Xin Ya Section: NT$ 1.72 million. Ya Dong Section: NT$ 4.89 million. (5) Xin Ya Section: 1977. Ya Dong Section: 1973-1989. 6.Where a person who owned the property within the past five years has been an actual related person of the company, a public announcement shall also include the dates and prices of acquisition and disposal by the related person and the person’s relationship to the company at those times: Not applicable. 7.Anticipated loss or profit from the disposal (not applicable in cases of acquisition of assets) (where originally deferred, the status or recognition shall be stated and explained): Under ROC GAAP, FERD estimates the gain from land disposal to be about NT$ 900 million. 8.Terms of delivery or payment (including payment period and monetary amount): (1) According to the contract. (2) Pursuant to the letter (MOE Tai-Jiao-(Er)-Zi No. 1030166869) issued on December 3, 2014 by the Ministry of Education (MOE), any taxes and dues payable derived from the transaction, such as land value increment tax, shall be paid by FERD. 9.The manner of deciding on this transaction (such as tender invitation , price comparison, or price negotiation), the reference basis for the decision on price and the decision-making department: Price negotiation. Land valuation report of real estate appraisers. Board of Directors. 10.Name of the professional appraisal institution and its appraisal amount: Repro Knight Frank Property: Swap out: NT$ 1,173.00 million, Swap in: NT$ 1,835.99 million. Elite Appraisers Firm: Swap out: NT$ 1,155.21 million, Swap in: NT$ 1,822.54 million. DTZ Debenham Tie Leung Real Estate Appraiser Office: Swap out: NT$ 1,167.25 million, Swap in: NT$ 1,844.72 million. Sinyi Real Estate Appraisers Firm: Swap out: NT$ 1,146.91 million, Swap in: NT$ 1,845.83 million. CCIS Real Estate Joint Appraisers Firm: Swap out: NT$ 1,180.48 million, Swap in: NT$ 1,817.16 million. 11.Reason for any significant discrepancy with the transaction amount, and opinion of the certifying CPA:None 12.Is the appraisal report price a limited price or specific price?: Limited price. 13.Has an appraisal report not yet been obtained?:NO 14.Reason an appraisal report has not yet been obtained:Not applicable. 15.Broker and broker's fee:None 16.Concrete purpose or use of the acquisition or disposition: In exchange for land of developable value. 17.Do the directors have any objection to the present transaction?:None 18.Any other matters that need to be specified:None |