Tycoons : Announcement to obtain the land's right-of-use assets from related party

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Provided by: TYCOONS GROUP ENTERPRISE CO.,LTD.
SEQ_NO	1	Date of announcement	2022/03/18	Time of announcement	14:47:42
Subject	Announcement to obtain the land's right-of-use assets from related party
Date of events	2022/03/18	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): Part of the land in Fu'an section of Alian District, Kaohsiung City, Taiwan (R.O.C.) 2.Date of occurrence of the event: 2022/03/18 3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping), unit price, and total transaction price: (1)Transaction volume: 13,836.29 square-meters (4,185.48 pings) (2)Unit price: Monthly rent of each ping equivalent to NTD 57.34. (3)Total transaction price: Monthly rent is NTD 240,000, lease period is 36 months, and total amount of transaction is NTD 8,640,000. 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): (1)HUANG, WEN-SUNG, president and director of the Company. (2)HUANG, PING-LUN, president of subsidiary of the Company. 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: (1)The reason for choosing the related party as trading counterparty: Selection based on operational and location considerations. (2)The identity of the previous owner, its relationship with the Company and the trading counterparty: (A)LIU, HUI-MEI, non-related party. (B)HUANG, WEN-SUNG, the main management of the Company. (3)The previous date and monetary amount of transfer: (A)HUANG, WEN-SUNG: 2017/11/17, NTD 9,500,000. (B)HUANG, PING-LUN: 2018/01/25, 2018/05/02, the related party acquired the land thereof as a gift. 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: (1)HUANG, WEN-SUNG: The main management of the Company, obtained date 2017/11/17, NTD 9,500,000. (2)HUANG, PING-LUN: The main management of subsidiary of the Company, obtained date 2018/01/25, 2018/05/02, the related party acquired the land thereof as a gift. 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)Terms of delivery or payment: Rental NTD 720,000/quarter, pay per quarter. (2)Lease period: 2022/4/1~2025/3/31 (3)Restrictive covenants in the contract, and 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: (1)The manner of deciding on this transaction: By negotiation. (2)The reference basis for the decision on price: According to the quotations of the surrounding areas (3)The decision-making department: Board of Directors. 10.Name of the professional appraisal firm or company and its appraisal price: N/A 11.Name of the professional appraiser: N/A 12.Practice certificate number of the professional appraiser: N/A 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: YuanFu CPAs Firm 18.Name of the CPA: LIN, CHIN-HUA 19.Practice certificate number of the CPA: Taipei-4231 20.Broker and broker's fee: N/A 21.Concrete purpose or use of the acquisition or disposal: For the Company general operation. 22.Any dissenting opinions of directors to the present transaction: None. 23.Whether the counterparty of the current transaction is a related party: Yes. 24.Date of the board of directors resolution: 2022/03/18 25.Date of ratification by supervisors or approval by the audit committee: 2022/03/18 26.The transaction is to acquire a real property or right-of-use asset from a related party: Yes. 27.The price assessed in accordance with the Article 16 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies: NTD 9,040,680. 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: None.