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Loan are more than 5% but all percentage ratios are less than 25%, the grant of the Loan under the Loan Agreement constitutes a discloseable transaction of the Company under Chapter 19 of the GEM Listing Rules and is therefore subject to the notification and announcement requirements under the GEM Listing Rules.", "size": 5, "samples": [{"hash": "iypJmaeD4Ur", "uri": "/contracts/iypJmaeD4Ur#gem-listing-rules-implications", "label": "Loan Agreement", "score": 28.2887490327, "published": true}, {"hash": "ca2DZmmWujW", "uri": "/contracts/ca2DZmmWujW#gem-listing-rules-implications", "label": "Loan Agreement", "score": 27.5989324025, "published": true}], "snippet_links": [{"key": "percentage-ratios", "type": "clause", "offset": [22, 39]}, {"key": "the-gem-listing-rules", "type": "clause", "offset": [58, 79]}, {"key": "in-respect-of", "type": "clause", "offset": [81, 94]}, {"key": "grant-of-the-loan", "type": "clause", "offset": [170, 187]}, {"key": "the-loan-agreement", "type": "clause", "offset": [194, 212]}, {"key": "discloseable-transaction", "type": "clause", "offset": [227, 251]}, {"key": "of-the-company", "type": "clause", "offset": [252, 266]}, {"key": "subject-to-the", "type": "definition", "offset": [326, 340]}], "hash": "d404f66123625d42f8facc3fa31e2692", "id": 4}, {"snippet": "As the applicable percentage ratio (as defined under the GEM Listing Rules) in respect of the Disposal is more than 5% but less than 25%, the Disposal constitutes a discloseable transaction for the Company under the GEM Listing Rules and is subject to notification and announcement requirements under Rule 19.34 of the GEM Listing Rules.", "size": 5, "samples": [{"hash": "8scK817Hcxi", "uri": "/contracts/8scK817Hcxi#gem-listing-rules-implications", "label": "Preliminary Sales and Purchase Agreement", "score": 24.6570841889, "published": true}], "snippet_links": [{"key": "applicable-percentage-ratio", "type": "definition", "offset": [7, 34]}, {"key": "the-gem-listing-rules", "type": 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To the best of the Directors\u2019 knowledge, information and belief having made all reasonable enquiries, none of the Shareholders has any material interest in the Acquisition and no Shareholder is required to abstain from voting if the Company were to convene a general meeting for the approval of the SPA, the Shareholder\u2019s Agreement and the Acquisition. Since no Shareholder is required to abstain from voting if the Company were to convene a general meeting for approving the SPA, the Shareholder\u2019s Agreement and the Acquisition, the Company shall obtain Written Approval from a closely allied group of Shareholders, who together hold approximately 74.79% of the issued share capital of the Company carrying rights to vote at a general meeting. Accordingly, such written shareholders\u2019 approval, if obtained, will be accepted in lieu of holding a general meeting for the approval of the SPA, the Shareholder\u2019s Agreement and the transactions contemplated thereunder pursuant to Rule 19.44 of the Listing Rules. Therefore, no general meeting of the Company will be convened to approve the SPA, the Shareholder\u2019s Agreement and the transactions contemplated thereunder. The closely allied group of Shareholders includes Noble Gate and Shareholder Value Fund (together, the \u201cClosely Allied Group\u201d) As at the date of this announcement, (i) 194,662,700 Share were held by Noble Gate; and (ii) 128,400,800 Shares were held by Shareholder Value Fund. Noble Gate and Shareholder Value Fund are together regarded as \u201cacting in concert\u201d for the purposes of the Hong Kong Code on Takeovers and Mergers. The Company is required to despatch a circular containing, among other things, (i) further details of the SPA, the Shareholder\u2019s Agreement and the transaction contemplated thereunder; (ii) the accountants\u2019 report of the Target Company; and (iii) the pro forma financial statements of the Group, to the Shareholders within 15 business days after the publication of the announcement, which should be on or before 16 April 2019. As additional time is required for the Company to prepare and finalise certain information to be included in the circular, the Company will apply for a waiver from strict compliance with Rule 19.41(a) of the GEM Listing Rules for an extension of time to despatch the circular to the Shareholders on or before 15 May 2019. The Company will make further announcement as and when appropriate.", "size": 4, "samples": [{"hash": "8AaIXysJIYq", "uri": "/contracts/8AaIXysJIYq#gem-listing-rules-implications", "label": "Termination Agreement", "score": 28.9402425168, "published": true}], "snippet_links": [{"key": "percentage-ratios", "type": "clause", "offset": [16, 33]}, {"key": "of-the-acquisition", "type": "clause", "offset": [45, 63]}, {"key": "pursuant-to-rule", "type": "clause", "offset": [75, 91]}, {"key": "the-gem-listing-rules", "type": "clause", "offset": [101, 122]}, {"key": "major-transaction", "type": "clause", "offset": [184, 201]}, {"key": "for-the-company", "type": "clause", "offset": [202, 217]}, {"key": "approval-by-the-shareholders", "type": "clause", "offset": [282, 310]}, {"key": "the-directors", "type": "clause", "offset": [369, 382]}, {"key": "of-the-shareholders", "type": "clause", "offset": [461, 480]}, {"key": "material-interest", "type": "clause", "offset": [489, 506]}, {"key": "no-shareholder", "type": "clause", "offset": [530, 544]}, {"key": "abstain-from-voting", "type": "definition", "offset": [560, 579]}, {"key": "general-meeting", "type": "definition", "offset": [613, 628]}, {"key": "approval-of", "type": "clause", "offset": [637, 648]}, {"key": "the-company-shall", "type": "clause", "offset": [884, 901]}, {"key": "written-approval", "type": "clause", "offset": [909, 925]}, {"key": "group-of-shareholders", "type": "definition", "offset": [948, 969]}, {"key": "share-capital-of-the-company", "type": "clause", "offset": [1024, 1052]}, {"key": "will-be-accepted", "type": "clause", "offset": [1162, 1178]}, {"key": "in-lieu-of", "type": "clause", "offset": [1179, 1189]}, {"key": "transactions-contemplated", "type": "clause", "offset": [1281, 1306]}, {"key": "of-the-listing-rules", "type": "clause", "offset": [1341, 1361]}, {"key": "no-general", "type": "clause", "offset": [1374, 1384]}, {"key": "the-company-will", "type": "clause", "offset": [1396, 1412]}, {"key": "to-approve", "type": "clause", "offset": [1425, 1435]}, {"key": "value-fund", "type": "clause", "offset": [1596, 1606]}, {"key": "date-of-this", "type": "clause", "offset": [1656, 1668]}, {"key": "by-shareholder", "type": "clause", "offset": [1768, 1782]}, {"key": "acting-in-concert", "type": "clause", "offset": [1859, 1876]}, {"key": "the-hong-kong-code-on-takeovers-and-mergers", "type": "clause", "offset": [1898, 1941]}, {"key": "details-of-the", "type": "clause", "offset": [2034, 2048]}, {"key": "the-transaction-contemplated", "type": "clause", "offset": [2086, 2114]}, {"key": "the-accountants", "type": "clause", "offset": [2132, 2147]}, {"key": "the-target-company", "type": "clause", "offset": [2159, 2177]}, {"key": "pro-forma-financial-statements", "type": "clause", "offset": [2193, 2223]}, {"key": "the-group", "type": "clause", "offset": [2227, 2236]}, {"key": "to-the-shareholders", "type": "definition", "offset": [2238, 2257]}, {"key": "days-after", "type": "definition", "offset": [2277, 2287]}, {"key": "publication-of-the-announcement", "type": "clause", "offset": [2292, 2323]}, {"key": "april-2019", "type": "clause", "offset": [2357, 2367]}, {"key": "additional-time", "type": "clause", "offset": [2372, 2387]}, {"key": "certain-information", "type": "clause", "offset": [2440, 2459]}, {"key": "the-circular", "type": "clause", "offset": [2478, 2490]}, {"key": "compliance-with-rule", "type": "clause", "offset": [2540, 2560]}, {"key": "extension-of-time", "type": "definition", "offset": [2602, 2619]}, {"key": "further-announcement", "type": "clause", "offset": [2713, 2733]}], "hash": "766615db5623de89f9e3469cafb5d163", "id": 6}, {"snippet": "As the applicable percentage ratios under the GEM Listing Rules exceed 5% but are less than 25%, the entering into of the Loan Agreement constitutes a discloseable transaction for the Company under Chapter 19 of the GEM Listing Rules and is therefore subject to the reporting and announcement requirements under the GEM Listing Rules. As the amount of the financial assistance granted to Customer A exceeds 8% under the assets ratio as defined under Rule 17.15 of the GEM Listing Rules, the grant of the Loan is also subject to the general disclosure obligations under Rule 17.17 of the GEM Listing Rules. It is required under Rule 17.17(3) of the GEM Listing Rules to disclose the identity of Customer A and Guarantor B. As Customer A and Guarantor B are unwilling to disclose their identity to public and also for other commercial considerations, the Company has applied to the Stock Exchange for a waiver from strict compliance with Rule 17.17(3) of the GEM Listing Rules to disclose the identity of Customer A and Guarantor B.", "size": 3, "samples": [{"hash": "lzx4BAAteP4", "uri": "/contracts/lzx4BAAteP4#gem-listing-rules-implications", "label": "Loan Agreement", "score": 27.3580440554, "published": true}, {"hash": "jJQZjRfNYBz", "uri": "/contracts/jJQZjRfNYBz#gem-listing-rules-implications", "label": "Loan Agreement", "score": 27.2266395394, "published": true}], "snippet_links": [{"key": "percentage-ratios", "type": "clause", "offset": [18, 35]}, {"key": "the-gem-listing-rules", "type": "clause", "offset": [42, 63]}, {"key": "entering-into", "type": "clause", "offset": [101, 114]}, {"key": "the-loan-agreement", "type": "clause", "offset": [118, 136]}, {"key": "discloseable-transaction", "type": "clause", "offset": [151, 175]}, {"key": "for-the-company", "type": "clause", "offset": [176, 191]}, {"key": "subject-to-the", "type": "definition", "offset": [251, 265]}, {"key": "financial-assistance", "type": "clause", "offset": [356, 376]}, {"key": "customer-a", "type": "definition", "offset": [388, 398]}, {"key": "the-assets", "type": "clause", "offset": [416, 426]}, {"key": "under-rule", "type": "clause", "offset": [444, 454]}, {"key": "grant-of-the-loan", "type": "clause", "offset": [491, 508]}, {"key": "general-disclosure-obligations", "type": "clause", "offset": [532, 562]}, {"key": "to-disclose", "type": "definition", "offset": [666, 677]}, {"key": "identity-of-customer", "type": "clause", "offset": [682, 702]}, {"key": "guarantor-b", "type": "definition", "offset": [709, 720]}, {"key": "commercial-considerations", "type": "clause", "offset": [822, 847]}, {"key": "the-company-has", "type": "definition", "offset": [849, 864]}, {"key": "the-stock-exchange", "type": "definition", "offset": [876, 894]}, {"key": "compliance-with-rule", "type": "clause", "offset": [920, 940]}], "hash": "5b93160779e0fd02a5e3b14def916b5b", "id": 7}, {"snippet": "As all of the applicable percentage ratios (as defined under the GEM Listing Rules) in respect of the Subscription are less than 5%, therefore the Subscription is not subject to the requirements pursuant to Chapter 19 of the GEM Listing Rules.", "size": 2, "samples": [{"hash": "43KjDY9fupk", "uri": "/contracts/43KjDY9fupk#gem-listing-rules-implications", "label": "Subscription Agreement", "score": 32.4847000964, "published": true}, {"hash": "8yYPKZl7myI", "uri": "/contracts/8yYPKZl7myI#gem-listing-rules-implications", "label": "Subscription Agreement", "score": 26.334017796, "published": true}], "snippet_links": [{"key": "percentage-ratios", "type": "clause", "offset": [25, 42]}, {"key": "the-gem-listing-rules", "type": "clause", "offset": [61, 82]}, {"key": "in-respect-of", "type": "clause", "offset": [84, 97]}, {"key": "the-subscription", "type": "clause", "offset": [98, 114]}, {"key": "the-requirements", "type": "clause", "offset": [178, 194]}, {"key": "pursuant-to-chapter", "type": "clause", "offset": [195, 214]}], "hash": "357834bc487201416b4921c57ec62ee2", "id": 8}, {"snippet": "The Directors consider that each of the Supplemental Factoring Agreement (Customer G) and the Second Supplemental Factoring Agreement (Customer H) constitutes material change to the terms of its respective preceding agreements and the Company shall re-comply with the requirements under Chapter 19 of the GEM Listing Rules. As the highest applicable percentage ratio for the Company as calculated under Rule", "size": 2, "samples": [{"hash": "dF4yEfJeOH5", "uri": "/contracts/dF4yEfJeOH5#gem-listing-rules-implications", "label": "Factoring Agreement", "score": 24.1067761807, "published": true}], "snippet_links": [{"key": "the-directors", "type": "clause", "offset": [0, 13]}, {"key": "supplemental-factoring-agreement", "type": "clause", "offset": [40, 72]}, {"key": "change-to", "type": "definition", "offset": [168, 177]}, {"key": "terms-of", "type": "definition", "offset": [182, 190]}, {"key": "the-company-shall", "type": "clause", "offset": [231, 248]}, {"key": "the-requirements", "type": "clause", "offset": [264, 280]}, {"key": "the-gem-listing-rules", "type": "clause", "offset": [301, 322]}, {"key": "applicable-percentage-ratio", "type": "definition", "offset": [339, 366]}, {"key": "for-the-company", "type": "clause", "offset": [367, 382]}, {"key": "under-rule", "type": "clause", "offset": [397, 407]}], "hash": "2affededdce9d0cd81d9a1586e755fb3", "id": 9}, {"snippet": "As one or more of the applicable percentage ratios calculated under Rule 19.07 of the GEM Listing Rules in respect of the Subscription exceed 5% but all are less than 25%, the Subscription constitutes a discloseable transaction of the Company and is subject to the reporting and announcement requirements but is exempt from the circular and shareholders\u2019 approval requirements under Chapter 19 of the GEM Listing Rules.", "size": 2, "samples": [{"hash": "3JqiiHh1naO", "uri": "/contracts/3JqiiHh1naO#gem-listing-rules-implications", "label": "Subscription Agreement", "score": 27.5278391249, "published": true}], "snippet_links": [{"key": "percentage-ratios", "type": "clause", "offset": [33, 50]}, {"key": "under-rule", "type": "clause", "offset": [62, 72]}, {"key": "the-gem-listing-rules", "type": "clause", "offset": [82, 103]}, {"key": "in-respect-of", "type": "clause", "offset": [104, 117]}, {"key": "the-subscription", "type": "clause", "offset": [118, 134]}, {"key": "discloseable-transaction", "type": "clause", "offset": [203, 227]}, {"key": "of-the-company", "type": "clause", "offset": [228, 242]}, {"key": "subject-to-the", "type": "definition", "offset": [250, 264]}, {"key": "the-circular", "type": "clause", "offset": [324, 336]}, {"key": "approval-requirements", "type": "clause", "offset": [355, 376]}], "hash": "11d7197dde7cc4ed5829fd03bc9caf59", "id": 10}], "next_curs": "CmcSYWoVc35sYXdpbnNpZGVyY29udHJhY3RzckMLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IidnZW0tbGlzdGluZy1ydWxlcy1pbXBsaWNhdGlvbnMjMDAwMDAwMGEMogECZW4YACAA", "clause": {"parents": [], "size": 134, "title": "GEM LISTING RULES IMPLICATIONS", "children": [], "id": "gem-listing-rules-implications", "related": [["listing-rules-implications", "LISTING RULES IMPLICATIONS", "LISTING RULES IMPLICATIONS"], ["listing-rules-implication", "LISTING RULES IMPLICATION", "LISTING RULES IMPLICATION"], ["implications-under-the-listing-rules", "IMPLICATIONS UNDER THE LISTING RULES", "IMPLICATIONS UNDER THE LISTING RULES"], ["third-party-information-privacy-or-data-protection-laws", "Third-Party Information; Privacy or Data Protection Laws", "Third-Party Information; Privacy or Data Protection Laws"], ["rights-protection-mechanisms-and-abuse-mitigation", "Rights Protection Mechanisms and Abuse Mitigation", "Rights Protection Mechanisms and Abuse Mitigation"]], "related_snippets": [], "updated": "2025-07-07T16:38:45+00:00", "also_ask": [], "drafting_tip": null, "explanation": "The 'GEM Listing Rules Implications' clause defines how the rules and requirements of the Growth Enterprise Market (GEM) of a stock exchange affect the parties and transactions involved in the agreement. It typically outlines the need for compliance with GEM Listing Rules, such as disclosure obligations, approval processes, or restrictions on certain actions, especially for companies listed or seeking to list on the GEM board. This clause ensures that all parties are aware of and adhere to the specific regulatory framework governing GEM-listed entities, thereby reducing the risk of regulatory breaches and promoting transparency in the transaction."}, "json": true, "cursor": ""}}