CDFH – China Development Financial Holding Corp.

06/23/2022 | Press release | Distributed by Public on 06/23/2022 04:04

CDF on behalf of CDAMC announced the disposal of real estate

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Provided by: CHINA DEVELOPMENT FINANCIAL HOLDING CORP.
SEQ_NO 1 Date of announcement 2022/06/23 Time of announcement 18:02:28
Subject
 CDF on behalf of CDAMC announced the disposal
of real estate
Date of events 2022/06/23 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 building on "9F., No. 269, Sec. 1, Dunhua S. Rd., Da'an Dist.,
  Taipei City" and attached 6 parking spaces (hereinafter referred as
  "Sunty Phoenix").
2.Date of occurrence of the event:2022/06/23
3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping),
unit price, and total transaction price:
  Land area: 90.87 square meters (equivalent to 27.49 pings)
  Building area: 1,126.04square meters(equivalent to 340.63 pings)
  Total transaction amount: NT$ 494,984,000.
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):
  Transaction counterparty: Videoland Inc. (hereinafter referred to as
  "Videoland").
  Relationship with the company: Non-financial report related party.
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 profit of disposal real estate is NT$ 280,798,988.
8.Terms of delivery or payment (including payment period and
monetary amount), restrictive covenants in the contract,
and other important terms and conditions:
  Terms of payment:
  The first installment is 10% of the transaction price. The second
  installment is 90% of the transaction price.
  Terms of restrictive covenants in the contract, and other important
  conditions:
  The lease contract signed on February 23, 2017, between Videoland and
  CDAMC shall be terminated by handing over the house by both parties.
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:
  The manner of deciding on this transaction: price negotiation.
  The transaction price is decided based on the professional real estate
  appraisal report and authorized by Board of Directors.
10.Name of the professional appraisal firm or company and
its appraisal price:
  Institution name: Zhan-Mao Real Estate Appraisers Firm.
  Its appraisal amount (including tax): The real estate appraisal price is
  NT$484,968,000.
11.Name of the professional appraiser:
  Zhan-Mao Real Estate Appraisers Firm: YANG, SHANG-HUNG.
12.Practice certificate number of the professional appraiser:
  Zhan-Mao Real Estate Appraisers Firm: (109) TCG_NO.000283.
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:N/A
21.Concrete purpose or use of the acquisition or disposal:
  Since the principle of CDAMC's real estate business is based on sale and
  capital gain, it is necessary to dispose of Sunty Phoenix and make a
  profit.
22.Any dissenting opinions of directors to the present transaction:None
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:N/A
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:No