Announced by CFH on behalf of CL, disposition of real estate to Cathay No.2 REIT.
2006-09-14
1.Name and nature of the subject matter (e.g.land located at
Sublot XX, Lot XX, North District, Taichung City):
Land:
(1)Lot 634,Subsec.5,Rong-Xing Sec.,Zhong-Shan District,Taipei City.
(2)Lot 324、324-1,Subsec.2,Mei-Ren Sec.,Song-Shan District,Taipei City.
(Portion of the land ownership: 9381/10000)
(3)Lot 200-1、200-6,Subsec.1,Xue-Fu Sec.,Da-An District,Taipei City.
Buildings:
(1)No.49、51,Sec.3,Minsheng E. Rd.,Zhong-Shan District,Taipei City.
(2)No.126、126-1,Sec.4,Nanjing E. Rd.,Song-Shan District,Taipei City.
(Partial floor)
(3)No.319, Sec.2,Dunhua S. Rd.,Da-An District,Taipei City.
2.Date of the occurrence of the event:2006/09/14
3.Transaction volume (e.g.XX square meters, equivalent to XX p'ing),
unit price, total transaction price:
Total area of land used: 510.92 p'ing
Total area of building used: 3967.70 p'ing
Unit price: NT$368.0 thousand p'ing
Total transaction price: NT$1.460 billion
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):
Mega International Commercial Bank Co.,Ltd.(The trustee of Cathay No.2 REIT);
none
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:N/A
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):
Anticipated profits: NT$4.10 billion
8.Terms of delivery or payment (including payment period and monetary
amount):
(1)Sign contract: NT$1.44 billion (20% of total transaction price)
(2)Pay tax : NT$1.44 billion (20% of total transaction price)
(3)Registration of ownership transferring: NT$3.60 billion(50% of total
transaction price)
(4)Hand over the properties:NT$0.72billion (10% of total price)
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:
(a)Refer to the market price and the appraisal of real estate appraisal
institutions
(b)Professional domain appraisal report
(c)Board of Directors
10.Name of the professional appraisal institution and its appraisal
amount:
(a)HK Debenham Tie Leung real estate appraiser office.
Appraisal amount: NT$7,030,110,000
(b)China Credit Information Service real estate appraisers firm.
Appraisal amount: NT$7,354,000,000
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?:None
13.Has an appraisal report not yet been obtained?:None
14.Reason an appraisal report has not yet been obtained:N/A
15.Broker and broker's fee:N/A
16.Concrete purpose or use of the acquisition or disposition:
To strengthen the operation efficiency of assets.
17.Do the directors have any objection to the present transaction?:None
18.Any other matters that need to be specified:N/A