| Subject |
Far Eastern Apparel (Suzhou) Co., Ltd. (FEAZ), FENC’s
subsidiary, received the compensation for policy-based
relocation in Wu Zhong District, Suzhou, China
|
| Statement |
1.Name and nature of the underlying asset (e.g., land located at Sublot XX, Lot XX, North District, Taichung City):
The land use rights, buildings and equipment at No. 88 Tian Ling Road,
Wu Zhong District Economic Development Zone, Suzhou, China
2.Date of occurrence of the event:2021/06/11
3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping), unit price, and total transaction price:
The land use rights: 54,452.9 square meter
Buildings: 51,127.17 square meter
Equipment: A batch Policy-based compensation
Total transaction price: RMB 201,043,132
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):
Cheng Nan Sub-district Office, Wu Zhong District, Suzhou
NIL
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: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):
The estimated disposal gain is around RMB 96.7 million. Due to fees and tax expenses may incur during
the relocation, the final number is subject to the Audit of CPA.
8.Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract,
and other important terms and conditions: 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:
In accordance with the regulations of Cheng Nan Sub-district Office, Wu Zhong District, Suzhou regarding
the relocation compensation, FEAZ signed the agreement with the authority.
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:NIL
21.Concrete purpose or use of the acquisition or disposal: In accordance with the policy-based relocation
22.Any dissenting opinions of directors to the present transaction:NIL
23.Whether the counterparty of the current transaction is a related party:No
24.Date of the board of directors resolution:N/A
25.Date of ratification by supervisors or approval by the audit committee:NA
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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