Cathay Financial : on behalf of the Cathay Life Insurance Co., Ltd. announces being elected as the Best Applicant of the superficies case – Marketscreener.com
Statement
1.Name and nature of the underlying asset (e.g., land located at Sublot XX,
Lot XX, North District, Taichung City):
70 years superficies on land No.241, 241-1and 241-2
Qingsheng Section,
Zhongli District,Taoyuan City
2.Date of occurrence of the event:2022/03/02
3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping),
unit price, and total transaction price:
Land area：107,187.54 square meters (about32,424.23 p’ing)
Asset amount of right-of-use:NTD$4,601,135,610
Estimated investment amount of royalties: about NTD$2,506,290,981
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):
Republic of China (Managed by Railway Bureau, MOTC), not actual related
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:N/A
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:N/A
7.Projected gain (or loss) through disposal (not applicable for
acquisition of assets; those with deferral should provide a table
explaining recognition):N/A
8.Terms of delivery or payment (including payment period and
monetary amount), restrictive covenants in the contract,
and other important terms and conditions:
(1)Fixed Royalties:
First year to 4th year is free,
shall be paid from the 5th year.
(2)Extra Royalties:
Annual revenue exceed 1.6 billion to 2 billion : 1%,
Annual revenue exceed 2 billion to 2.4 billion : 2%,
Annual revenue exceed 2.4 billion : 3%
(3)Land Rent:the sum of 1% of the declaration of the Land
Value of the year, and 2.5% of the declaration of the Land
Value at the time the contract signed.
(4)The duration of the superficies: 70 years.
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:
(a)Public bidding
(b)Professional domain appraisal report
(c)the Board of Directors
10.Name of the professional appraisal firm or company and
its appraisal price:
Asset amount of right of use:
Affluence Real Estate Appraiser Firm：NTD$6,604,995,682
G-Beam Real Estate Appraisers Firm：NTD$6,385,099,036
11.Name of the professional appraiser:
Affluence Real Estate Appraiser Firm：CHEN,PI-YUAN
G-Beam Real Estate Appraisers Firm：CHANG,NENG-CHENG
12.Practice certificate number of the professional appraiser:
CHEN,PI-YUAN：(98)YCG_NO.000020
CHANG,NENG-CHENG：(94)TCG_NO.000081
13.The appraisal report has a limited price, specific price,
or special price:N/A
14.An appraisal report has not yet been obtained:N/A
15.Reason for an appraisal report not being obtained:N/A
16.Reason for any significant discrepancy with the appraisal reports
and opinion of the CPA:N/A
17.Name of the CPA firm:N/A
18.Name of the CPA:N/A
19.Practice certificate number of the CPA:N/A
20.Broker and broker’s fee:N/A
21.Concrete purpose or use of the acquisition or disposal:
Acquire real estate for investment purpose based on Insurance Law.
22.Any dissenting opinions of directors to the present transaction:No
23.Whether the counterparty of the current transaction is a
related party:No
24.Date of the board of directors resolution:2021/11/2
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:N/A
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:N/A
29.Any other matters that need to be specified:
Cathay Life Insurance will follow the relevant
procedures in accordance with the bidding documents.
