Extension of Long Stop Date. The completion of the Acquisition is subject to the fulfilment (or waiver, as appropriate) of various conditions precedent on or before 1 June 2022 (the “Long Stop Date”) pursuant to the Agreement. Due to the resurgence of COVID-19 in the PRC recently, additional time is required by the Parties for the fulfilment of the conditions precedent to the Agreement. On 1 June 2022, the Parties entered into the Supplemental Agreement pursuant to which the Long Stop Date shall be extended to 31 August 2022 (or such other date as may be agreed between the Parties in writing). Save for the aforesaid extension of the Long Stop Date, the other terms and conditions of the Agreement remain unchanged and continue in full force and effect. By order of the Board Farnova Group Holdings Limited Xxx Xxxxx Chairman Hong Kong, 1 June 2022 As of the date of this announcement, the executive Directors are Xx. Xxx Xxxxx, Mr. Xxx Xxxxxxxx and Xx.Xxxx Xx; the non-executive Directors are Xx. Xxxxx Xxxxxxxxxx, Xx. Xx Xxxxxxxxx and Xx. Xxxx Xxxxxxx; and the independent non-executive Directors are Xx. Xxx Xx, Xx. Xx Xxxx and Xx. Xx Xxxxxxxx. This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.
Extension of Long Stop Date. Pursuant to the Sale and Purchase Agreement, if the conditions set out in the Sale and Purchase Agreement have not been fulfilled or waived (as the case may be) by the Long Stop Date (i.e. 31 December 2019), the Sale and Purchase Agreement shall cease and determine and thereafter neither party to the Sale and Purchase Agreement shall have any obligations and liabilities thereunder. Given that additional time is required for the fulfilment of the conditions precedent set out in the Sale and Purchase Agreement, the Purchaser, the Vendor and the Guarantor, after arm’s length negotiation, have agreed to extend the Long Stop Date from 31 December 2019 to 30 September 2020 (or such later date as may be agreed among the parties in writing) pursuant to the Supplemental Agreement. Save for the above, all other terms and conditions of the Sale and Purchase Agreement shall remain unchanged and continue in full force and effect. BUSINESS UPDATE ON THE MAJOR ACQUISITION The Board wishes to update the Shareholders and potential investors of the Company that as informed by the management of the Target Company, the Target Company has made the following business update: Supplemental information on the procurement agreement between the Target Company and Sinopharm Subsequent to the entering into of the Chinese herbs procurement agreement between the Target Company and Sinopharm Holding Hunan Co., Ltd* (國藥控股湖南有限公司) (the ‘‘Sinopharm’’) (the ‘‘Procurement Agreement’’), the Target Company and Sinopharm have entered into supplemental procurement agreements (the ‘‘Supplemental Procurement Agreements’’) to (i) extend the term of the Procurement Agreement from 18 October 2020 to 18 November 2024 and (ii) Sinopharm guarantees to the Target Company to underwrite the contracted quantities of products in accordance with the terms and conditions of the Procurement Agreement and the Supplemental Procurement Agreements. The Directors are of the view that the entering into of the Supplemental Procurement Agreements between the Target Company and Sinopharm reinforces the continuity of the Procurement Agreement and secure the revenue of the Target Company. New procurement agreements between the Target Company and new customers In addition to the Procurement Agreement and the Supplemental Procurement Agreements, the Target Company entered into procurement agreements with total contract value of approximately RMB91.6 million (equivalent to approximately HK$100.73 million) with 4 new customers ...
Extension of Long Stop Date. The parties to each of the UK Agreement and the Belgian Agreement hereby agree that, notwithstanding clause 5.6 of the UK Agreement and Clause 4.6 of the Belgian Agreement, such Agreements shall continue in full force and effect provided that the definition of Long Stop Date in each Agreement shall be amended to mean 21 January 2004.
Extension of Long Stop Date. 2.1 With effect from September 30, 2016 and subject to the First CCD Closing having been completed, the “Long Stop Date” as set out in the Securities Purchase Agreement shall be read and interpreted to mean June 20, 2017 and all provisions of the Securities Purchase Agreement shall be read and interpreted accordingly.
Extension of Long Stop Date of the Settlement Agreement As disclosed in the November Announcement, the conditions precedent set out in the Settlement Agreement shall be fulfilled or waived (as the case may be) on or before 30 April 2022 or such other date as the parties to the Settlement Agreement may agree in writing. As additional time is required for the fulfillment of the conditions precedent to the Settlement Agreement, the Company, Oceanwide Holdings and CTIFL agreed to extend the Long Stop Date from 30 April 2022 to 31 July 2022 (or such other date as the parties may agree in writing) pursuant to the terms and conditions of the 2nd Supplemental Agreement. Changes in reference dates for the calculation of Consideration Shares The Company, Oceanwide Holdings and CTIFL further agreed to revise the reference dates for the calculation of the number of Consideration Shares to be transferred from Oceanwide Holdings to CTIFL (or its nominee) to settle the FSA Loans. Pursuant to the terms and conditions of the 2nd Supplemental Agreement, the reference date of the adjusted audited NAV of the Target Group attributable to owners of the Target Company is changed from 30 September 2021 to 31 December 2021 (or such later date as agreed between Oceanwide Holdings and CTIFL). Moreover, the reference date of the valuation of the property interests of the Target Group is changed from 31 December 2021 to 31 March 2022 (or such later date as agreed between Oceanwide Holdings and CTIFL). Save as disclosed above, the other terms and conditions of the Settlement Agreement remain unchanged and continue in full force and effect. The Board is of the opinion that the Settlement Arrangement upon the terms and conditions of the 2nd Supplemental Agreement will reduce the interest costs borne by the Group, which will in turn improve the performance of the Group. It represents the continuing financial support provided by Oceanwide Holdings to the Group and reduces the reporting obligations under the Framework Services Agreement and the Transactions contemplated thereunder. The Shareholders and potential investors of the Company are advised to exercise caution when dealing in the Shares. By Order of the Board China Oceanwide Holdings Limited XXX Xxxxxxxxx Chairman Hong Kong, 31 March 2022 As at the date of this announcement, the Board comprises:
Extension of Long Stop Date. In the event the Closing has not occurred as of August 26, 2019, then Buyer shall have the right, but not the obligation, to extend the Long Stop Date to September 27, 2019 by providing written notice thereof to Seller by 5:00 p.m. Central Daylight Time on August 26, 2019 and paying to Seller a non-refundable payment in an amount equal to $500,000 (the “Extension Payment”) which shall be paid to Seller no later than August 27, 2019 by wire transfer or delivery of other immediately available funds to an account, or accounts, designated by Seller. In the event Buyer fails to provide such notice on August 26, 2019 or in the event Buyer provides such notice to Seller but Seller does not receive the Extension Payment as required by 5:00 p.m. Central Daylight Time on August 27, 2019 then the Long Stop Date shall not be extended beyond August 27, 2019 unless the Parties expressly agree in writing to extend the Long Stop Date. If the Closing eventually occurs, an amount equal to the Extension Payment will be applied to the Purchase Price as provided in Section 2.5(a)(i). The Extension Payment shall be fully earned by Seller upon payment by Buyer and shall NOT be refundable (in that it shall not be returned to Buyer) for any reason whatsoever, including in the event this Agreement is later terminated by Buyer pursuant to Section 9.1(d). The Extension Payment shall NOT be deemed to be part of the Deposit and shall NOT be subject to Section 2.2.
Extension of Long Stop Date. The Directors announced on 27th June, 2002 that all conditions precedent to the Subscription Agreement have been satisfied except for the approval from the SFC and the Stock Exchange of the change in substantial shareholders or change in control (as the case may be) of certain subsidiaries of the Company which are registered with SFC and the Stock Exchange pursuant to the relevant statutes and rules (the “Regulatory Consents”). SFC is working with the parties to the agreement in respect of one of the Regulatory Consents and has indicated it will give its decision by Friday, 2nd August, 2002. The parties to the Subscription Agreement have therefore agreed to extend the long-stop date for fulfillment of the conditions precedent to the Subscription Agreement (the “Long-stop Date”) for two days to 2nd August, 2002. The Directors do not anticipate that there will be any material impact on the Group arising from the extension of the Long-stop Date. Further announcement will be made on Friday, 2nd August, 2002. By order of the board of By order of the board of China United Telecom Limited Mansion House Group Limited Gu Qinhua Xxxxxx Xxxxx X. Xxxx Director Chairman Hong Kong, 31st July, 2002 The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement (other than that relating to China United) relating to the Group and confirm, having made all reasonable enquiries, that to the best of their knowledge, their opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts (other than relating to China United) not contained in this announcement, the omission of which would make any of their statements in this announcement misleading.
Extension of Long Stop Date. As provided in the Framework Agreement dated 12 May 2016 entered into between the Purchaser, being a wholly owned subsidiary of the Company, and the Vendor in relation to the Proposed Acquisition, the completion of the Proposed Acquisition shall be conditional upon the fufilment or waiver of certain conditions precedent on or before 12 September 2016 (the “Long Stop Date”) (or such other date as the Purchaser and the Vendor may agree). On 12 September 2016, the Purchaser and the Vendor have entered into a supplemental agreement to extend the Long Stop Date to 30 November 2016 (or such later date as may be agreed between the Purchaser and the Vendor). The Board considers that the extension of the Long Stop Date would be in the interest of the Company and the Shareholders as a whole, as further time is required by the Company for fulfilment of the conditions precedent relating to the Reorganisation. Save and except for the aforesaid extension of the Long Stop Date, all other terms and conditions of the Framework Agreement shall remain unchanged and continue in full force and effect. By Order of the Board DTXS SILK ROAD INVESTMENT HOLDINGS COMPANY LIMITED Xxxx Xxxx Xxxx Xxxxxx Executive Director (Chief Executive Officer) Hong Kong, 12 September 2016
Extension of Long Stop Date. (a) If, at any time prior to the Long-Stop Date, each of the conditions below are satisfied, the Long-Stop Date shall be further extended for a period of three calendar months:
Extension of Long Stop Date. The reference to “31 December 2017” as referred to in Section B.2.11 of the Subscription Announcement shall be amended to “15 April 2018”.
