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Material Information (1402 FENC) |
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SEQ_NO |
3 |
Date of announcement |
2016/12/05 |
Time of announcement |
17:04:40 |
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Subject |
Far Eastern Resources Development Co., Ltd.(FERD), FENC??s subsidiary, will dispose land at Ya Dong Section of Banqiao District to Taiwan Power Company. |
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Date of events |
2016/12/05 |
To which item it meets |
paragraph 20 |
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Statement |
1.Name and nature of the subject matter (e.g.land located at Sublot XX, Lot XX, North District, Taichung City): Name：9 pieces of raw land at Ya Dong Section of Banqiao District in New Taipei City. Lot No. 998-1, 998-3, 1003-1, 1004, 1004-4, 1004-5, 1005-3, 1006-2, 1023-5. Nature：Reserved zone for electricity service in Taipei Far Eastern Telecom Park (Tpark) 2.Date of the occurrence of the event:2016/12/05 3.Transaction volume (e.g.XX square meters, equivalent to XX p'ing), unit price, total transaction price: Land: 5,613 square meters, equivalent to 1,697.93 pings. Unit price:Around NT$672,000 per ping. Total transaction price: NT$1,140,960,000. 4.Counterparty to the trade and its relationship with the company (if the trading counterpart is a natural person and is not an actual related party of the Company, the name of the trading counterpart is not required to be disclosed): Trading counterpart: Taiwan Power Company (Taipower). Relationship: NIL 5.Where the counterpart to the trade is an actual related party, a public announcement shall also include the reason for choosing the related party as trading counterpart and the identity of the previous owner (including its relationship with the company and the trading counterpart), price of transfer and the date of acquisition: A.In order to meet the needs for Taipower’s long-term regional electric power supply system plan. B.Far Eastern Textile Ltd. (renamed Far Eastern New Century Corporation, hereafter referred to as FENC). C.FERD is FENC's wholly owned subsidiary； Same Chairman for both parties. D.N/A (FENC spun off its holdings of land and transferred such holdings to FERD). E.2003/09/02 6.Where a person who owned the property within the past five years has been an actual related person of the company, a public announcement shall also include the dates and prices of acquisition and disposal by the related person and the person’s relationship to the company at those times:N/A 7.Anticipated loss or profit from the disposal (not applicable in cases of acquisition of assets) (where originally deferred, the status or recognition shall be stated and explained): The expected disposal gain (under FENC’s consolidated financial basis) is NT$ 338,301,000 8.Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important stipulations: (1)A.Upon the limited bidding has been completed on 5 Dec 2016, a “land sales & purchase agreement” shall be settled. B.It will be a one-time payment. After transferring the land ownership to Taipower by filing with the regulated authority, FERD will confirm the handover of the aforesaid land with Taipower within 15 days. And Taipower will pay FERD the one-time payment within another 15 days. (2)NIL 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: (1)Invitation to tender (Limited bidding) (2)The land evaluation reports of Colliers International and Elite Appraisers Firm, respectively. (3)Board of Directors 10.Name of the professional appraisal institution and its appraisal amount: (1)Colliers International: NT$1,132,520,978 (2)Elite Appraisers Firm: NT$1,137,614,775 11.Reason for any significant discrepancy with the transaction amount, and opinion of the certifying CPA:NIL 12.Is the appraisal report price a limited price or specific price?: Negative 13.Has an appraisal report not yet been obtained?:Negative 14.Reason for an appraisal report not been obtained:N/A 15.Broker and broker's fee:NIL 16.Concrete purpose or use of the acquisition or disposal: In order to meet the needs for Taipower’s long-term regional electric power supply system plan. 17.Do the directors have any objection to the present transaction?:NIL 18.Any other matters that need to be specified:NIL |
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