Examples of Project Company in a sentence
On 22 June 2016, the Owner, the Subsidiary and the Subsidiary Nominee entered into the Equity Transfer Agreement pursuant to which the Owner agreed to dispose of, and the Subsidiary Nominee agreed to acquire, the entire equity interest in the Project Company.
Upon completion of the Equity Transfer, the Project Company will become a subsidiary of the Company and its financial results will be consolidated into the financial results of the Group.
As at the date of this announcement, the Project Company is owned as to 40% by the Company indirectly through Guangzhou Hongyu, and 60% by Guangzhou Merchants.
Management of the Project Company Significant matters of the Project Company (including but not limited to increase or reduction in capital, amendments to the memorandum and articles of association, mergers, demergers and liquidation) shall require the approval of the shareholders representing more than two-third of voting rights of the Project Company at the general meeting.
As a result, the financial results of the Project Company will be consolidated into the financial statements of the Group.