Shiyan Urban Holding definition
Examples of Shiyan Urban Holding in a sentence
On 26 May 2023, Shiyan Management Committee and the Company entered into the Investment Agreement, pursuant to which, Shiyan Management Committee will grant the Operating License to the Project Company to be established by Shiyan Urban Holding and Beikong Environment Investments (a wholly-owned subsidiary of the Company).
Shiyan Urban Holding is a state-owned enterprise wholly owned by the State-owned Assets Supervision and Administration Commission of the People’s Government of Shiyan City, Hubei Province, the PRC.
Shiyan Urban Holding will become a shareholder of the Project Company holding a 10% equity interest in the Project Company.
Shiyan Urban Holding is a shareholder of the Project Company, which is conducive to the coordination with the municipal government in waste allocation and guaranteeing the volume of waste input.
To the best of the Directors’ knowledge, information and belief after having made all reasonable enquiries, Shiyan Management Committee, Shiyan Urban Holding and their respective ultimate beneficial owners are third parties independent of the Company and its connected persons.
Shiyan Urban Holding will contribute RMB9,142,000 (equivalent to approximately HK$10,158,000) in cash, holding 10% equity interest of the Project Company.
Beikong Environment Investments and Shiyan Urban Holding will establish the Project Company in Shiyan City in accordance with the PRC laws within 45 days after the signing of the Investment Agreement.