Announcement of signing construction contract of
storage tanks and accessory facility, on behalf of Taiwan
VCM Corp., a subsidiary of China General Plastics Corp.
DateTime：2019/10/07 17:47:12
- Name and nature of the subject matter (e.g.land located at Sublot XX, Lot XX, North District, Taichung City):
To sign construction contract of Ethylene tank and accessory facility、 EDC & VCM tanks' accessory facility. - Date of the occurrence of the event:2019/10/07
- Transaction volume (e.g.XX square meters, equivalent to XX p'ing), unit price, total transaction price:
Transaction volume：A batch of tanks and accessory facility.
Total transaction price:NT$1.502 billion. - 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):
Counterparty：CTCI Corporation.
Relationship：None. - Where the counterparty 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:NA
- 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:NA
- 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):NA
- Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important stipulations: Based on the payment terms in the contract.
- 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: Price comparison and negotiation：Quotations offered by vendors and market price, according to authorizations of the Company.
- Name of the professional appraisal institution and its appraisal amount:NA
- Name of the appraiser:NA
- Practice certificate number of the appraiser:NA
- Is the appraisal report price a limited price or specific price?:NA
- Has an appraisal report not yet been obtained?:NA
- Reason for an appraisal report not been obtained:NA
- Reason for any significant discrepancy with the transaction amount, and opinion of the certifying CPA:NA
- Name of the CPA firm:NA
- Name of the certifying CPA:NA
- The practice certificate number of the CPA:NA
- Broker and broker's fee:NA
- Concrete purpose or use of the acquisition or disposal: To ensure the stable supply of major raw materials, Ethylene and EDC, as well as the smooth production and scheduling of VCM product.
- Do the directors have any objection to the present transaction?:NA
- Is it a related party transaction?:NO
- Date of the board of directors’resolution:2019/01/30
- Date of the recognition of the supervisorsor the board of independent directors’resolution:2019/01/30
- Is the transaction to acquire a real estateor right-of-use asset from the related party?:NO
- The appraisal price conducted in accordance withthe Article 16 of the ”Regulations Governing the Acquisitionand Disposal of Assets by Public Companies”:NA
- Where the above appraisal price is lower thanthe transaction price, the appraisal price conductedin accordance with the Article 17 of the”Regulations Governing the Acquisition and Disposalof Assets by Public Companies”:NA
- Any other matters that need to be specified:None
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