Announcement for major subsidiary- Norley Corporation Inc. provide guarantee for its subsidiary- Kenmore Shipping Inc.

Announcement for major subsidiary- Norley Corporation Inc. provide guarantee for its subsidiary- Kenmore Shipping Inc.

1.Date of occurrence of the event:2019/01/21

2.The company name of the party for whom the endorsements/guarantees were made; its relationship with the Company; the ceiling on the endorsements/guarantees;the original amount of endorsements/guarantees; the amount of the current additional endorsements/guarantees; the amount of endorsements/guarantees as of the date of occurrence of the event; the actual loaned amount of the company who was made the endorsements/guarantees; the reason for the current additional endorsements/guarantees: Kenmore Shipping Inc., 100% owned by Norley Coporation Inc.
The ceiling on the endorsements/guarantees: NT$11,809,948 (in thousands).
The original amount of endorsements/guarantees: US$-.
The amount of the current additional endorsements/guarantees:US$28,000,000.
The amount of endorsements/guarantees as of the date of occurrence of the event:US$28,000,000.
The actual loaned amount of the company: US$-.
The reason for the current additional endorsements/guarantees: Re-finance.

3.Content and value of collaterals provided by the party for whom the endorsements/guarantees were made: None.

4.Capital and accumulated profit/loss for whom the endorsements/guarantees were made according to its latest financial report:Capital: US$43,610,000./ Accumulated profit: US$13,662,627.

5.Terms/conditions and date of release of the Company’s endorsement/guarantee obligations:N/A.

6.The total amount of ceiling on endorsement/guarantee:NT$46,652,808.

7.The total amount of endorsements/guarantees as of the date of occurrence of the event: NT$8,860,631.

8.The ratio of the amount of endorsements/guarantees to the Company’s net worth according to the latest financial report as of the date of occurrence of the event:57%

9.The ratio of the aggregate amount of long term investments, endorsements/guarantees, and monetary loans extended to others to the Company’s net worth according to the latest financial report:57%

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