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[FENC] Additional information regarding that FAR EASTERN INVESTMENT (H) announced to acquire real property, equipment and other assets on 1 Feb 2018

Post Date 2018.03.02From:FENC

1.Name and nature of the subject matter (e.g.land located at Sublot XX, Lot XX, North District, Taichung City):
   Real property, plant, equipment and other related assets in the states of Ohio and West Virginia, USA
2.Date of the occurrence of the event:2018/03/02
3.Transaction volume (e.g.XX square meters, equivalent to XX p'ing), unit price, total transaction price:
   Transaction volume: a batch
   Total purchase price: US$ 33,375,637(included deduction identified as pro-rata property tax in the amount of  US$124,363 attributable as seller’s obligation)
4.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):
   Trading counterpart : M & G Polymers USA, LLC and M & G USA Corporation
    Relationship with the company : NIL
5.Where the counterpart 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:N/A
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:N/A
7.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):N/A
8.Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important stipulations: Payment in full was completed on 2 Mar 2018
9.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: Bid under the sale and bidding procedure
   approved by the bankruptcy court pursuant to sections 105(a), 363 and 365 of title 11 of the U.S. Code.
10.Name of the professional appraisal institution and its appraisal amount:N/A
11.Reason for any significant discrepancy with the transaction amount, and opinion of the certifying CPA:N/A
12.Is the appraisal report price a limited price or specific price?:N/A
13.Has an appraisal report not yet been obtained?:N/A
14.Reason for an appraisal report not been obtained: N/A
15.Broker and broker's fee:NIL
16.Concrete purpose or use of the acquisition or disposal: For operational needs to increase overseas investment
17.Do the directors have any objection to the present transaction?:NIL
18.Any other matters that need to be specified: The assets were acquired by FENC’s subsidiary, FAR EASTERN INVESTMENT (HOLDING) LIMITED through public auction. A newly established and wholly owned subsidiary, FE POLYTECH
     LLC, was designated as the holding entity of the acquired assets to complete payment of purchase price at closing in accordance with the Asset Purchase Agreement.