Today's Information |
Provided by: SAN FANG CHEMICAL INDUSTRY CO.,LTD. | |||||
SEQ_NO | 4 | Date of announcement | 2022/08/09 | Time of announcement | 16:07:10 |
Subject | Announcement for increasing investment in San Fang Vietnam through "debt-to-equity swap" way on behalf of Grand International Investment,a subsidiary of SFC. | ||||
Date of events | 2022/08/09 | To which item it meets | paragraph 20 | ||
Statement | 1.Name and nature of the underlying assets (if preferred shares, the terms and conditions of issuance shall also be indicated, e.g., dividend yield, etc.):stake of San Fang Vietnam. 2.Date of occurrence of the event:2022/08/09 3.Amount, unit price, and total monetary amount of the transaction: USD27,000,000. 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):San Fang Vietnam is a 99.99% owned subsidiary of Grand International Investment. Both entities are 100% subsidiaries of Sang Fang Chemical. 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:None 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:None 7.Matters related to the current disposal of creditors' rights (including types of collaterals of the disposed creditor's rights; if creditor's rights over a related party, announcement shall be made of the name of the related party and the book amount of the creditor's rights, currently being disposed of, over such related party):Swap San Fang Vietnam's USD 27million loan funded by Grand International Investment into capital investment. 8.Profit or loss from the disposal (not applicable in cases of acquisition of securities) (those with deferral should provide a table explaining recognition):None 9.Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important terms and conditions:debt-to-equity swap 10.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: Grand International Investment 's board of directors approved the transaction at 9th August, 2022 and reported to parent company, San Fang Chemical Industry Co., Ltd. at the same day. 11.Net worth per share of the Company's underlying securities acquired or disposed of:None 12.Cumulative no.of shares held (including the current transaction), their monetary amount, shareholding percentage, and status of any restriction of rights (e.g., pledges), as of the present moment:USD36,000,000 13.Current ratio of securities investment (including the current trade, as listed in article 3 of Regulations Governing the Acquisition and Disposal of Assets by Public Companies) to the total assets and equity attributable to owners of the parent as shown in the most recent financial statement and working capital as shown in the most recent financial statement as of the present:: Ratio to total assets:7%; Ratio to owners' equity of the parent company:13%; Operating Capital: NTD5,042,021,000 14.Broker and broker's fee:None 15.Concrete purpose or use of the acquisition or disposal: Strengthen the financial structure of San Fang Vietnam Co., Ltd and its operation purpose. 16.Any dissenting opinions of directors to the present transaction:None 17.Whether the counterparty of the current transaction is a related party:Yes 18.Date of the board of directors resolution:2022/08/09 19.Date of ratification by supervisors or approval by the Audit Committee:NA 20.Whether the CPA issued an unreasonable opinion regarding the current transaction:None 21.Name of the CPA firm:HAMBER CONSULTING&CO.,CPAS 22.Name of the CPA:YU PO CHAO 23.Practice certificate number of the CPA: Financial Supervisory Commission No4707 24.Whether the transaction involved in change of business model:None 25.Details on change of business model:None 26.Details on transactions with the counterparty for the past year and the expected coming year:NA 27.Source of funds:debt-to-equity swap 28.Any other matters that need to be specified: The above transaction amount is based on the average closing exchange rate of TWD/USD=29.72 from Taiwan Bank at 30th, June. |
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San Fang Chemical Industry Co. Ltd. published this content on 09 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 10:35:10 UTC.