Continental : On behalf of subsidiary, Continental Development Corporation, to announce the acquisition of a land for real estate development

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Provided by: CONTINENTAL HOLDINGS CORP.
SEQ_NO	1	Date of announcement	2022/06/17	Time of announcement	15:21:19
Subject	On behalf of subsidiary, Continental Development Corporation, to announce the acquisition of a land for real estate development
Date of events	2022/06/17	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): 50% of three plots of land in No.1154-1,No.1154-5 and No.1175, Xinya Section, Banqiao District, New Taipei City. 2.Date of occurrence of the event:2022/06/17 3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping), unit price, and total transaction price: The land area is approximately 2,174 square meters, equivalent to 657.64 ping. Continental Development Corporation acquired 50% of the land. Total transaction price: NT$690,516,750. 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): Natural person, not a 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:NA 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:NA 7.Projected gain (or loss) through disposal (not applicable for acquisition of assets; those with deferral should provide a table explaining recognition):NA 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 delivery or payment: As specified in the contract. Restrictive covenants in the contract: None Other important terms and conditions: 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: The manner of deciding on this transaction: Price negotiation. The reference basis for the decision on price: Refer to market conditions and valuation reports of real estate appraisers. Decision-making unit: Sole director. 10.Name of the professional appraisal firm or company and its appraisal price: (1)Elite Real Estate Appraisers Joint Firm: NT$1,350,625,762 (100% of the value of the land). (2)Honda Appraisers Joint Firm: NT$1,348,151,750 (100% of the value of the land). 11.Name of the professional appraiser: (1)Elite Real Estate Appraisers Joint Firm: Chen, Yu-Lin (2)Honda Appraisers Joint Firm: Chen, Yi-Jen 12.Practice certificate number of the professional appraiser: (1)Chen, Yu-Lin: (91)TCG_NO.000031 (2)Chen, Yi-Jen: (104)TCG_NO.000216 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:NA 16.Reason for any significant discrepancy with the appraisal reports and opinion of the CPA:NA 17.Name of the CPA firm:NA 18.Name of the CPA:NA 19.Practice certificate number of the CPA:NA 20.Broker and broker's fee:NA 21.Concrete purpose or use of the acquisition or disposal: Real estate development. 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: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:No 27.The price assessed in accordance with the Article 16 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies:NA 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:NA 29.Any other matters that need to be specified:None