INFORMATION ON THE VENDORS Vendor Sample Clauses

INFORMATION ON THE VENDORS Vendor. 1 Dr. Xx acquired the controlling stake in the Company in 2010 by the subscription of new Shares in the Company under the debt restructuring proposal of the Company in June 2010. Details relating to the debt restructuring of the Company were set out in the Company’s circular dated 28 June 2010. Dr. Xx was appointed to the Board on 11 December 2010 and has been the Chairman of the Company since 31 December 2010. Skill China directly owns 739,164,898 Shares. Skill China is wholly owned by Fortune Alliance. Fortune Alliance is owned as to (i) 90% equity interest by Jointprofit which is directly wholly owned by Dr. So; (ii) 5% equity interest by Greatkind Limited which is wholly owned by Mr. Xx Xxxxx; and (iii) 5% equity interest by Cheergreat Limited which is wholly owned by the family trust of Xx. Xxxx Xxx Dune. Vendor 2 Greatest Mark, which is a special purpose company established for the purpose of the creditor scheme of the Company for the benefit of the scheme creditors, is controlled by Xx. Xxxxx Xxx Xxxx (Xxxxxx) and Xx. Xxxxxx X. Haughey (both being the scheme administrators). Shares held by Greatest Mark (as legal owner) are held on trust for the benefit of the scheme creditors (which include various banks and other suppliers). Each scheme creditor (as defined in the creditor scheme) is entitled to receive dividends (i.e. sharing of the net realizable assets of Greatest Mark after payment of all costs and expenses on a pari passu basis) in accordance with the terms and conditions of the creditor scheme. Details relating to the debt restructuring of the Company and the creditor scheme were set out in the Company’s circular dated 28 June 2010. As at the date of this announcement, Greatest Mark directly owns 61,699,398 Shares. Further details regarding the shareholdings in the Company of the Vendors, Offeror and the parties acting in concert with it are set out in the section headed “Shareholding structure” in this announcement.
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Related to INFORMATION ON THE VENDORS Vendor

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