Company Announcements

Subsidiary Foxconn Asset Management disposal land

Source: RNS
RNS Number : 8455K
Hon Hai Precision Industry Co Ld
06 September 2021

Subject: Subsidiary Foxconn Asset Management LLC disposal land


1.Name and nature of the underlying asset (e.g., land located at Sublot XX, Lot XX, North District, Taichung City):land located at 550 Piercy Rd, San Jose, CA 95138,USA

2.Date of occurrence of the event:2021/09/06

3.Transaction unit amount (e. g. XX square meters, equivalent to XX ping), unit price, and total transaction price:

Transaction volume:29.43 Acres 

Unit price: USD 2,115,188/Acres 

Total transaction price: USD 62,250,000

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):Hines Acquisitions LLC ;None

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: Na

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: Na

7.Projected gain (or loss) through disposal (not applicable for acquisition of assets; those with deferral should provide a table explaining recognition):USD 50,472,050

8.Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important terms and conditions:

Cash in full on the delivery day

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:



10.Name of the professional appraisal firm or company and its appraisal price:

Valbridge Property Advisors ; USD 61,540,000 

Kidder Mathews of California, Inc.; USD 60,000,000 

11.Name of the professional appraiser:

Valbridge Property Advisors: Tony M. Sciarrilli

Kidder Mathews of California: Brett I. Reynolds, Mai

12.Practice certificate number of the professional appraiser:

Tony M. Sciarrilli: AG3003462

Brett I. Reynolds, Mai: AG042466

13.The appraisal report has a limited price, specific price, or special price: None

14.An appraisal report has not yet been obtained: None

15.Reason for an appraisal report not being obtained: Na

16.Reason for any significant discrepancy with the appraisal reports and opinion of the CPA: Na

17.Name of the CPA firm: Na

18.Name of the CPA: Na

19.Practice certificate number of the CPA: Na

20.Broker and broker's fee: None

21.Concrete purpose or use of the acquisition or disposal: Dispose of idle assets

22.Any dissenting opinions of directors to the present transaction: None

23.Whether the counterparty of the current transaction is a related party: No

24.Date of the board of directors resolution: NA

25.Date of ratification by supervisors or approval by the audit committee: NA

26.The transaction is to acquire a real property or right-of-use asset from a related party: None

27.The price assessed in accordance with the Article 16 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies: NA

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: NA

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.