Far Eastern New Century : Investment (Holding) Limited, the subsidiary of FENC, announces its BOD resolved to invest in Polytex (Vietnam) Ltd.
June 29, 2015 at 08:22 am EDT
Share
SEQ_NO
3
Date of announcement
2015/06/29
Time of announcement
19:07:45
Subject
Far Eastern Investment (Holding) Limited, the
subsidiary of FENC, announces its BOD resolved to
invest in Far Eastern Polytex (Vietnam) Ltd.
Date of events
2015/06/29
To which item it meets
paragraph 20
Statement
1.Name and nature of the subject matter (if preferred shares,
the terms and conditions of issuance shall also be indicated,
e.g.dividend yield):
Capital of FAR EASTERN POLYTEX (VIETNAM) LTD
2.Date of occurrence of the event:2015/06/29
3.Volume, unit price, and total monetary amount of the transaction:
Volume:NA, unit price:NA, total price USD100,000,000
4.Counterpart to the trade and its relationship to the Company
(if the trading counterpart is a natural person and furthermore
is not an actual related party of the Company, the name of the
trading counterpart is not required to be disclosed):
FAR EASTERN POLYTEX (VIETNAM) LTD
A newly established subsidiary
5.Where the counterpart to the trade is an actual related party,
a public announcement shall also be made of 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 date of acquisition:
A newly established subsidiary ;Nil
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:Nil
7.Matters related to the creditor's rights currently being disposed
of (including types of collateral of the disposed creditor's rights;
if the creditor's rights are creditor's rights toward a related
person, the name of the related person and the book amount of the
creditor's rights toward such related person currently being
disposed of must also be announced):NA
8.Anticipated profit or loss from the disposal (not applicable in
cases of acquisition of securities) (where originally deferred, the
status or recognition shall be stated and explained):NA
9.Terms of delivery or payment (including payment period and
monetary amount), restrictive covenants in the contract, and
other important stipulations:Cash/Nil/Nil
10.The manner in which the current transaction was decided, the
reference basis for the decision on price, and the decision-making
department:
A newly established subsidiary
A newly established subsidiary
The BOD's resolution
11.Current cumulative volume, amount, and shareholding percentage
of holdings of the security being traded (including the current
trade) and status of any restriction of rights (e.g.pledges):
Volume:Nil;USD100,000,000;100%;Nil
12.Current ratio of long or short term securities investment
(including the current trade) to the total assets and shareholder's
equity as shown in the most recent financial statement and the
operating capital as shown in the most recent financial statement:
1.64%;2.42%;NT$11,498,339,000
13.Broker and broker's fee:NA
14.Concrete purpose or use of the acquisition or disposal:
To increase investment
15.Net worth per share of the underlying securities acquired
or disposed of:NA
16.Do the directors have any objection to the present transaction?:Nil
17.Has the CPA issued an opinion on the unreasonableness of the price
of the current transaction?:Nil
18.Any other matters that need to be specified:Nil
Far Eastern New Century Corp is a Taiwan-based company principally engaged in telecommunication businesses and chemical fiber products businesses. The Company operates through six segments. Petrochemical segment is mainly engaged in the manufacture and sales of purified terephthalic acid (PTA). Chemical Fiber segment manufactures and sells polyester chips, polyester cotton, polyester yarn, polyester thin film, polyester film, polyester preform, nylon yarn and other products. Textile segment manufactures and sells various natural, man-made, synthetic fiber gauze, blended gauze and finished cloth, processed yarn, silk, cloth and others. Mobile Services segment provides personal mobile services, fixed communications, new economy, professional telecommunications integration and other services. Real Estate Development segment develops commercial properties, residential buildings, public buildings and bridges, among others. Investment and Other segment is engaged in investment business.