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Chang Hwa Commercial Bank merges with CHB Life Insurance Agency Company & CHB Insurance Brokerage Company.

  1. 1.Kind of merger/acquisition (e.g.merger, consolidation, spin-off ,acquisition, or receiving assignment of shares):Merger. 
  2. 2.Date of occurrence of the event:2016/02/25 
  3. 3.Names of companies participating in the merger (e.g.name of the other company participating in the merger or consolidation, newly established company in a spin-off, acquired company, or company whose shares are taken assignment of): Chang Hwa Commercial Bank (existing company) CHB Life Insurance Agency Company (dissolved company). CHB Insurance Brokerage Company (dissolved company) 
  4. 4.Counterparty (e.g.name of the other company participating in the merger or consolidation, company taking assignment of the spin-off, or counterparty to the acquisition or assignment of shares): CHB Life Insurance Agency Company (dissolved company). CHB Insurance Brokerage Company (dissolved company). 
  5. 5.Relationship between the counterparty and the Company (investee company in which the Company has re-invested and has shareholding of XX%), and explanation of the reasons for the decision to acquire, or take assignment of the shares of, an affiliated enterprise or related person, and whether it will affect shareholders' equity: CHB Life Insurance Agency Company & CHB Insurance Brokerage Company are 100% owned subsidiaries by Chang Hwa Commercial Bank..There would be no impact on the shareholders’ equity from the merger. 
  6. 6.Purpose/objective of the merger/acquisitionation: To integrate resources and to create comprehensive benefit. 
  7. 7.Anticipated benefits of the merger/acquisition:The anticipated benefits are to reduce costs and enhance operating efficiency. 
  8. 8.Effect of the merger or consolidation on net worth per share and earnings per share:The merger is expected to increase net worth per share and earnings per share by reducing costs and enhancing operating efficiency. 
  9. 9.Share exchange ratio and basis of its calculation:None. 
  10. 10.Scheduled timetable for consummation:The tentative reference day of the merger is April 1 2016. There would be further announcement if the reference day of the merger changed. 
  11. 11.Matters related to assumption by the existing company or new company of rights and obligations of the extinguished (or spun-off) company::The assets and the liabilities in account and any rights and obligations in valid on reference day of the merger of CHB Life Insurance Agency Company & CHB Insurance Brokerage Company will be generally assumed by Chang Hwa Commercial Bank. 
  12. 12.Basic information of companies participating in the merger: Chang Hwa Commercial Bank runs banking business; CHB Life Insurance Agency Company runs Life Insurance Agency; CHB Insurance Brokerage Company runs Property Insurance Brokerage. 
  13. 13.Matters related to the spin-off (including estimated value of the business and assets planned to be assigned to the existing company or new company; the total number and the types and volumesof the shares to be acquired by the split company or its shareholders; matters related to the reduction, if any, in capital of the split company) (note: not applicable other than where there is announcementof a spin-off):Not applicable. 
  14. 14.Conditions and restrictions on future transfers of shares resulting from the merger or acquisition:None. 
  15. 15.Other important stipulations:None. 
  16. 16.Do the directors have any objection to the present transaction?:None.