Announced by Cathay Financial Holdings,on behalf of CUB,disposition of real property to the same counter-party accumulate to three hundred million dollars.
2006-08-11
1.Name and nature of the subject matter (e.g.land located at
Sublot XX, Lot XX, North District, Taichung City):
1.Land:Lot 160-3,Gongguan Section,West district,Taichung City
2.Land:Lot 160,Gongguan Section,West district,Taichung City
2.Date of the occurrence of the event:2006/02/10~2006/08/11
3.Transaction volume (e.g.XX square meters, equivalent to XX p'ing),
unit price, total transaction price:
1.Total area of land used:242 p'ing;Unit price:NT$380,000 per p'ing;
Total transaction price:NT$91,960,000
2.Total area of land used:368.445 p'ing;Unit price:NT$570,000 per p'ing;
Total transaction price:NT$210,013,650.
3.Cumulative transaction amount:NT$301,973,650.
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):
The Counterparty: Cathay Real Estate Development Corporation.
The relationship with the company: affiliated enterprise.
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:
Reason:Disposal the vacancy of Cathay United Bank.
Former transference:Acquisition through the combination of institutions
on 1995/04/17.
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):
1.Lot 160-3：Loss NT$30,715,719.
2.Lot 160:Profit NT$23,002,403.
8.Terms of delivery or payment (including payment period and monetary
amount):
Make two collections;no restrictive covenants in the contract, and
other important stipulations.
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:
Negotiated price by both sides;refer to the evaluating report of
real estate;policy decision by the board meeting.
10.Name of the professional appraisal institution and its appraisal
amount:
1.Lot 160-3:Honda Appraisers Joint Firm;appraisal amount:NT$90,750,000
2.Lot 160:Chen's Real Estate Appraisal Firm and Leader Appraisers Joint
Firm;appraisal amount respectively NT$198,960,300 and NT$204,855,420.
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 an appraisal report has not yet been obtained:N/A.
15.Broker and broker's fee:None.
16.Concrete purpose or use of the acquisition or disposition:
To disposal the vacancy of Cathay United Bank.
17.Do the directors have any objection to the present transaction?:None.
18.Any other matters that need to be specified:None.
