Cathay Financial : Announced by Cathay Financial Holdings on behalf of Cathay Century Insurance Co., Ltd. to obtain the right-of-use assets from Cathay United Bank Co., Ltd.
12/16/2021 | 05:39am EDT
Provided by: CATHAY FINANCIAL HOLDING CO., LTD.
Date of announcement
Time of announcement
Announced by Cathay Financial Holdings on behalf
of Cathay Century Insurance Co., Ltd. to obtain the
right-of-use assets from Cathay United Bank Co., Ltd.
Date of events
To which item it meets
1.Name and nature of the underlying asset (e.g., land located at Sublot XX,
Lot XX, North District, Taichung City):Cathay United Bank Co., Ltd.
Offices: Taichung Liaison Office: Room B, 2nd Floor, No. 128,
Section 2, Chongde Road, Beitun District, Taichung City
2.Date of occurrence of the event:2021/12/16~2021/12/16
3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping),
unit price, and total transaction price:
(1) Office : 43.3 p'ing.
(2) Monthly rent is NTD 23,815 (no business tax).
(3) Total transaction price: NTD23,815
(no business tax) x 20 months = NTD 476,300
(4) Asset amount of right-of-use: NTD 471,583
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):Cathay United Bank Co., Ltd.,
a related party of Cathay Century Insurance Co., Ltd.
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:as office space for business purpose .
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:Not applicable.
7.Projected gain (or loss) through disposal (not applicable for
acquisition of assets; those with deferral should provide a table
explaining recognition):Not applicable.
8.Terms of delivery or payment (including payment period and
monetary amount), restrictive covenants in the contract,
and other important terms and conditions:
(1) Rent of office is paid NTD 23,815per month
(no business tax).
(2) Lease period: 20 months
(3) Restrictive covenants in the
contract and other important stipulations: None
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:
(1) The options of deciding on this transaction�G
Negotiation the transaction with each other.
(2) Price reference basis of the decision on�G
Professional domain appraisal report.
(3) Decision-making department�GThe decision-making is
following the authorization procedure of the company.
10.Name of the professional appraisal firm or company and
its appraisal price:Not applicable.
11.Name of the professional appraiser:Not applicable.
12.Practice certificate number of the professional appraiser:Not applicable.
13.The appraisal report has a limited price, specific price,
or special price:Not applicable.
14.An appraisal report has not yet been obtained:Not applicable.
15.Reason for an appraisal report not being obtained:Not applicable.
16.Reason for any significant discrepancy with the appraisal reports
and opinion of the CPA:Not applicable.
17.Name of the CPA firm:Not applicable.
18.Name of the CPA:Not applicable.
19.Practice certificate number of the CPA:Not applicable.
20.Broker and broker's fee:Not applicable.
21.Concrete purpose or use of the acquisition or disposal:
Our company obtained the real estate use right
asset from ��Cathay United Bank Co., Ltd.,�� as office space.
22.Any dissenting opinions of directors to the present transaction:
23.Whether the counterparty of the current transaction is a
24.Date of the board of directors resolution:NA
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:Yes.
27.The price assessed in accordance with the Article 16 of the
Regulations Governing the Acquisition and Disposal of Assets
by Public Companies:Not applicable.
28.Where the above assessed price is lower than the transaction price,
the price assessed in accordance with the Article 17 of the same
29.Any other matters that need to be specified:None.
Cathay Financial Holding Co. Ltd. published this content on 16 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 December 2021 10:38:06 UTC.