THE DISPOSAL. On 23 March 2020, the Vendor and the Purchaser entered into the Agreement in relation to the Disposal. The principal terms of the Agreement are set out below. Subject matter The Purchaser shall purchase the Sale Shares from the Vendor. The Sale Shares represent the entire equity interest of the Target as at the date of the Agreement.
THE DISPOSAL. The Agreement On 26 August 2019 (after trading hours), the Vendor (a wholly-owned subsidiary of the Company) entered into the Agreement with the Purchaser, pursuant to which, inter alia, the Vendor conditionally agreed to the sale of the Disposal Interest, representing the 50% equity interest in Shanghai Zhangjiang, to the Purchaser (or its nominee which shall not be a connected person of the Group) for the Consideration. Details of the Agreement are summarised as follows: Date of the Agreement : 26 August 2019 Purchaser : 上海張江（集團）有限公司 (Shanghai Zhangjiang (Group) Company Limited*), a company established in the PRC with limited liability, which beneficially owns 50% equity interest in Shanghai Zhangjiang as at the date of this announcement (or its nominee which shall not be a connected person of the Group) To the best of the Directors’ knowledge, information and belief having made all reasonable enquiries, (i) the Purchaser is an investment holding company principally engaged in the land and property development in the PRC; and (ii) save as disclosed above, the Purchaser and its ultimate beneficial owner(s) are not connected persons of the Company and are third parties independent of the Company and the connected persons of the Group. Vendor : Leader Capital Investments Limited, a company incorporated in British Virgin Islands with limited liability and wholly-owned by the Company Subject matter : The Disposal Interest, being the 50% equity interest in Shanghai Zhangjiang currently owned by the Vendor as at the date of this announcement Consideration Pursuant to the Agreement, the Consideration for the sale and purchase of the Disposal Interest shall be in the total sum of no more than RMB200 million, (subject to downward adjustment as detailed below) which shall be payable in the following manner:
THE DISPOSAL. Under the terms of the Framework Agreement, Anton Oil has agreed to sell to the Purchaser the Sale Shares, which represent 80% of the registered capital of Xinjiang Tong’Ao. Xinjiang Tong’Ao is a company incorporated in the PRC and is wholly-owned by Anton Oil. Xinjiang Tong’Ao is principally engaged in the provision of oilfield testing services in [Xinjiang Province]. The net asset value of Xinjiang Tong’Ao was approximately RMB135,000,000 as at 31 December 2015. The financial results of Xinjiang Tong’Ao for the two years immediately preceding the date of the Framework Agreement are as follows: For the year ended 31 December 2014 (audited/ unaudited) 2015 (audited/ unaudited) [RMB]’000 [RMB]’000 Net profit/(loss) before tax 84,260 36,195 Net profit/(loss) after tax 71,618 28,471 Subject to final audit, it is expected that the Group will realise a gain on disposal of approximately RMB52,000,000 which is calculated by reference to [the carrying value] of Xinjiang Tong’Ao as at 31 December 2015. The Directors currently intend to apply the proceeds from the Disposal for general working capital purposes of the Company. After completion of the Transaction, the Group will be interested in 20% of the equity interest in Xinjiang Tong’Ao and Xinjiang Tong’Ao will no longer be accounted for as a subsidiary of the Company.
THE DISPOSAL. On 22 December 2021, the Vendor and the Purchaser entered into the Agreement, the principal terms of which are set out below: Date
THE DISPOSAL. On 17 December 2021, the Company as vendor and the Purchaser entered into the Agreement in respect of the Disposal. The principal terms of the Agreement are summarized as follows: Date 17 December 2021 Parties
THE DISPOSAL. On 6 September 2022, Haining Xxxxxx entered into the Property Transfer Agreement, pursuant to which Haining Kareno agreed to dispose, and Huafeng agreed to purchase, the Land (including the buildings erected thereon) for a total amount of RMB88,310,000 and equipment and fixture affiliated to the Land for a total amount of RMB10,510,000. Property Transfer Agreement 6 September 2022 Parties to the Property Transfer Agreement
THE DISPOSAL. On 2 April 2022, the Group entered into the First Agreement and the Second Agreement to dispose of its entire holding in the Project Company and the immediate holding company of the Project Company.
THE DISPOSAL. On 3 December 2019, the Vendor and the Purchaser entered into the Agreement, pursuant to which the Vendor agreed to sell and the Purchaser agreed to purchase the Property Unit under the GDH City Project located in Luohu District, Shenzhen City, the PRC, for commercial use. The Agreement The salient terms of the Agreement are set out below:- Date : 3 December 2019 Parties : (a) the Vendor
THE DISPOSAL. On 25 April 2022 (after trading hours), the Vendor entered into the Sale and Purchase Agreement with the Purchaser pursuant to which the Vendor agreed to sell and the Purchaser agreed to acquire the Sale Shares for a total cash consideration of HK$840,000,000. Sale and Purchase Agreement Date: 25 April 2022 (after trading hours) Parties: (1) Vendor (2) Purchaser The Purchaser is a company incorporated in the British Virgin Islands with limited liability and is principally engaged in investment holdings. As at the date of the Sale and Purchase Agreement, the Purchaser is the holder of the Convertible Bonds and the Promissory Note. To the best of the Directors’ knowledge, information and belief having made all reasonable enquiries, the ultimate beneficial owner of the Purchaser is Mr. Xxxx Xxxxxxxx and the Purchaser and its ultimate beneficial owner are Independent Third Parties. The Vendor is a wholly owned subsidiary of the Company incorporated in the British Virgin Islands and is principally engaged in investment holdings. To the best of the Directors’ knowledge, information and belief having made all reasonable enquiry, there is, and in the past twelve months, (except for the Convertible Bonds and the Promissory Note), there has been, no material loan arrangement between (a) the Purchaser, any of its directors and legal representatives and/or any ultimate beneficial owner(s) of the Purchaser who can exert influence on the transaction; and (b) the Company, any connected person at the Company’s level and/or any connected person of the Company’s subsidiaries involved in the transaction. Assets to be disposed Pursuant to the Sale and Purchase Agreement, the Purchaser has conditionally agreed to acquire and the Vendor has conditionally agreed to sell the Sale Shares. The Sale Shares represent the entire issued share capital of the Target Company.
THE DISPOSAL. On 10 October 2013, the Company and SREI entered into the Disposal Master Agreement pursuant to which the Company has conditionally agreed to sell or procure the sale of the Disposal Assets, and SREI has conditionally agreed to purchase or procure the purchase of the Disposal Assets and arrange for the repayment of the Loans in phases within 24 months from the CDBIH Subscription Completion Date for a total consideration of RMB2,069,832,594 (equivalent to approximately HK$2,622,477,897) (subject to adjustment), such consideration to be payable in cash in 5 stages within 24 months from the CDBIH Subscription Completion Date. The Disposal is subject to the approval of the Independent Shareholders at the EGM. As a condition to the completion of the CDBIH Subscription and in connection with the Disposal, Xx. Xxx Xxxx had on 10 October 2013 executed a deed of guarantee in favour of the Company pursuant to which Xx. Xxx Xxxx unconditionally and irrevocably guarantees to the Company and its successors, transferees and assignees the due and punctual performance and observance by SREI of its obligations under the Disposal Master Agreement and all agreements entered into pursuant to the Disposal Master Agreement.
