Announce important resolution by Board of Directors

Announce important resolution by Board of Directors

1.Date of occurrence of the event:2018/03/28

2.Company name:Sincere Navigation Corporation

3.Relationship to the Company (please enter ”head office” or ”subsidiaries”):Head office

4.Reciprocal shareholding ratios:N/A.

5.Cause of occurrence:Announce important resolution by Board of Directors.

6.Countermeasures:Nil.

7.Any other matters that need to be specified:
A.) Recognition of 2017 business operation report, financial statements including individual financial statements and consolidated financial statements.

Brief 2017 individual statements as bellow:
(Expressed in thousands of NTD, except earnings per share)
Operating revenue                                              78,667
Profit for the year                                              511,396
Total comprehensive loss for the year     940,153
Earnings per share                                            0.90

Brief 2017 consolidated statements as bellow:
(Expressed in thousands of NTD, except earnings per share)
Operating revenue                                                                                3,331,863
Profit for the year                                                                                     657,311
Profit, attributed to Owners of the parents                                   511,396
Total comprehensive loss for the year                                             932,687
Comprehensive loss, attributed to Owners of the parents     940,153
Earnings per share                                                                                    0.90

B.)Dividend distribution proposal approved by the Board od Directors:
Proposed to distribute NT$340,982,503 cash dividends, NT$0.60 per share, to shareholders from 2017 unappropriated retained earnings.

C.)The resolution of Board of Directors for granting employees and directors’ remuneration of 2017
(1)Directors’ remuneration: NT$11,064,281;
(2)Employees’ remuneration: NT$11,064,281;
(3)The above amount will be granted by cash.

D.)Proposal: Borrow US$20,000,000 free of interest from 100% owned subsidiary, Heywood Limited, for one year as working capital.

E.)Proposal: Borrow US$35,000,000 free of interest from 100% owned subsidiary, Norley Corporation Inc., for one year as working capital.