CTBC Financial Holding Co. Ltd.

11/30/2018 | Press release | Distributed by Public on 11/30/2018 07:38

Announced by CTBC Financial Holdings on behalf of Taiwan Life Insurance Co.for disposal of land located at Situn District, Taichung City.

1.Name and nature of the subject matter (e.g.land located at
Sublot XX, Lot XX, North District, Taichung City):
Land located at Lot No. 20, Wenshang Section, Situn District,
Taichung City
2.Date of the occurrence of the event:2018/11/30
3.Transaction volume (e.g.XX square meters, equivalent to XX p'ing),
unit price, total transaction price:1876.77 square meters, equivalent
to 567.72 p'ing. Total transaction price: NT$851,580,000
4.Counterparty to the trade and its relationship with the company (if
the trading counterpart is a natural person and is not an actual
party of the Company, the name of the trading counterpart is not
required to be disclosed):
The trading counterparts are natural people and there's no
relationship between them and the company.
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
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):
profit from the disposal NT$397,827,692
8.Terms of delivery or payment (including payment period and monetary
amount), restrictive covenants in the contract,
and other important stipulations:
Payment for the first Period:NT$85,158,000;Payment for
second period:NT$85,158,000;Payment for third
Payment for forth period:NT$596,106,000
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:
Ways of trading decisions:Taking the market condition and
the real estate appraiser's valuation into account.
Reference basis for price decision: Real estate appraisal report
Decision unit: Board of directors
10.Name of the professional appraisal institution and its appraisal
REPro KnightFrank International Real Estate Appraisal/NT$740,000,000
11.Reason for any significant discrepancy with the transaction amount,
and opinion of the certifying CPA:N/A
12.Is the appraisal report price a limited price or specific price?:NO
13.Has an appraisal report not yet been obtained?:NO
14.Reason for an appraisal report not been obtained:N/A
15.Broker and broker's fee:Broker:
Hsin-Wang-Ai Real Estate LLC;Broker's fee:NT$8,515,800
16.Concrete purpose or use of the acquisition or disposal:
The puropse for disposal of real estate is according to Insurance Act.
17.Do the directors have any objection to the present transaction?:NO
18.Any other matters that need to be specified:NO