THE CONSULTANCY AGREEMENT. The JV Company can obtain revenue and cashflow stream from the interests from the lease back and consultancy fees earned pursuant to the sale and lease back arrangements which is consisted of the entering into of the Sale and Purchase Agreement, the Finance Lease Agreement, and the Consultancy Agreement. The Group intends to use the proceeds, including the interests from the lease and the consultancy fees generated under the Finance Lease Agreement and the Consultancy Agreement respectively as general working capital of the Group. The Directors (including the independent non-executive Directors) consider that the entering into of the Sale and Purchase Agreement, the Finance Lease Agreement the Consultancy Agreement is on normal commercial terms which are made on an arm’s length basis and the terms are fair and reasonable and in the best interests of the Group and the Shareholders as a whole.
THE CONSULTANCY AGREEMENT. (1) The Board announces that on 5 November 2015, the JV Company, an indirect non-wholly owned subsidiary of the Company, in which 77.58% of its equity interest is held by the Group, entered into the Sale and Purchase Agreement with Shanxi Hospital, an Independent Third Party, pursuant to which the JV Company agreed to purchase the Machinery and Equipment from Shanxi Hospital at a total consideration of RMB20,000,000.00 (equivalent to approximately HK$24.4 million).
THE CONSULTANCY AGREEMENT. 4.1 The parties shall enter into the Consultancy Agreementand the Licensor shall use its reasonable endeavours to procure that the Consultants provide the services under the Consultancy Agreement.
THE CONSULTANCY AGREEMENT. The Board would also like to announce that on 2 November 2017 (after the trading hours of the Stock Exchange), Noble Century (Khorgas), being an indirect wholly-owned subsidiary of the Company, and the Lessee entered into the Consultancy Agreement, pursuant to which Noble Century (Khorgas) shall provide the Lessee consultancy service for a term of three (3) years at a total consultancy fee of RMB1,650,000 (equivalent to approximately HK$1,947,000).
THE CONSULTANCY AGREEMENT. Reference is made to the announcement of Xxxxxx Property Holdings Limited (the “Company”) dated 5 November 2015 (the “Announcement”) in relation to the discloseable transaction of the Company (the “Transaction”) relating to the entering into of (1) the Sale and Purchase Agreement; (2) the Finance Lease Agreement; and (3) the Consultancy Agreement (collectively the “Agreement”). Unless the context requires otherwise, capitalized terms used herein shall have the same meanings as defined in the Announcement. As disclosed in the Announcement on 5 November 2015, (1) the JV Company entered into the Sale and Purchase Agreement with Shanxi Hospital to which the JV Company agreed to purchase the Machinery and Equipment from Shanxi Hospital; (2) the JV Company entered into the Finance Lease Agreement with Shanxi Hospital, pursuant to which the Machinery and Equipment would be leased back to Shanxi Hospital for a term of three years; and (3) the JV Company entered into the Consultancy Agreement with Shanxi Hospital whereby the JV Company has agreed to provide consultancy service to Shanxi Hospital in relation to, inter alia, machinery and equipment financial leasing. The obligation of the Shanxi Hospital under the Finance Lease Agreement is secured by the guarantee provided by the Guarantor (the “Guarantee”). The Board announces that due to certain internal issues of Shanxi Hospital, the JV Company and Shanxi Hospital have agreed not to proceed with the Transaction after negotiation. On 28 December 2015, the JV Company and Shanxi Hospital entered into a termination agreement (the “Termination Agreement”) to terminate each of the Agreements. On the same day, the JV Company and the Guarantor entered into a termination agreement (the “Guarantee Termination Agreement”) to terminate the Guarantee. Pursuant to the Termination Agreement, each of the Agreements shall terminate with immediate effect. No responsibility shall be assumed by the parties there shall be no claim against each other, and all parties shall no longer have any obligations under each of the Agreements. Pursuant to the Guarantee Termination Agreement, the Guarantee shall terminate with immediate effect. No responsibility shall be assumed by the parties, there shall be no claim against each other, and all parties shall no longer have any obligations under the Guarantee. The Board considers that the termination of the Transaction will not have any material adverse impact on the financial position and operat...
