MiTAC Subsidiary MUSA Acquires Real Estate Usage Rights in California

MiTAC Computing Technology USA (MUSA), a subsidiary of MiTAC, has acquired real estate usage rights for a building located in California, USA. The transaction, approved by the board of directors on April 30, 115 (Republic of China calendar), involves leasing 7,376 square feet from MiTAC Information Systems Corp. (MiTACIS), a related party and fellow subsidiary under the same parent company, Shen Yun Technology Co., Ltd.

The lease agreement is set for a period from May 1, 115, to April 30, 118. For the initial 10 months, the monthly rent will be USD 15,969.04, with adjustments to be made annually thereafter. The total amount for these usage rights is valued at USD 557,673.96.

This acquisition is driven by group business planning, aiming to secure necessary operational space for MUSA. MiTACIS originally leased 28,708 square feet and is sub-leasing 7,376 square feet to MUSA. The previous owner of these usage rights was TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA, which transferred them on March 1, 115, for USD 2,153,359.72.

The decision for this transaction was made through board resolution, with the pricing based on MiTACIS's lease price, proportionally calculated for MUSA's leased area. There are no contractual restrictions or other significant agreements noted, and no professional appraisal was conducted for this transaction.