BOD Approved Purchase of One 37,000DWT Bulk Carrier

28 Nov 2019

1. Name and nature of the subject matter (e.g.land located at Sublot XX, Lot XX, North District, Taichung City): One 37,000DWT bulk carrier

2. Date of the occurrence of the event: 2019/11/29

3. Transaction volume (e.g.XX square meters, equivalent to XX p'ing), unit price, total transaction price: Transaction volume:
One bulk carrier
Unit price: No more than US$24,000,000
Total amount: No more than US$24,000,000

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):
Onomichi Dockyard Co., Ltd. or Saiki Heavy Industries Co., Ltd. Not related

5. 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: Not Applicable

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 personís relationship to the company at those times: Not Applicable

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): Not Applicable

8.Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important stipulations:
In installments until the deliveries.

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:
The manner of deciding on this transaction: Price negotiation
The reference basis for the decision on price: Price negotiation
The decision-making department: Board of Directors

10. Name of the professional appraisal institution and its appraisal amount: Not Applicable

11. Name of the appraiser: Not Applicable

12. Practice certificate number of the appraiser: Not Applicable

13. Is the appraisal report price a limited price or specific price?: NA

14. Has an appraisal report not yet been obtained?: Not Applicable

15. Reason for an appraisal report not been obtained: The asset is operating asset which do not require an appraisal report.

16. Reason for any significant discrepancy with the transaction amount, and opinion of the certifying CPA: Not Applicable

17. Name of the CPA firm: Not Applicable

18. Name of the certifying CPA: Not Applicable

19. The practice certificate number of the CPA: Not Applicable

20. Broker and broker's fee: None.

21. Concrete purpose or use of the acquisition or disposal: Portfolio management

22. Do the directors have any objection to the present transaction?: None.

23. Is it a related party transaction?: No.

24. Date of the board of directorsíresolution: NA

25. Date of the recognition of the supervisors or the board of independent directorsíresolution: NA

26. Is the transaction to acquire a real estate or right-of-use asset from the related party?: No.

27. The appraisal price conducted in accordance with the Article 16 of the "Regulations Governing the Acquisition and Disposal of Assets by Public Companies": Not Applicable

28. Where the above appraisal price is lower than the transaction price, the appraisal price conducted in accordance with the Article 17 of the "Regulations Governing the Acquisition and Disposal of Assets by Public Companies": Not Applicable

29. Any other matters that need to be specified: None.

Wisdom Marine Group press release