CMGE definition
Examples of CMGE in a sentence
The parties agree that CMGE will be entitled to enforce those rights specifically to recover damages caused by reason of any breach of any provision of this Agreement and to exercise all other rights granted by law.
If CMGE or any CMGE Affiliate elects to pursue any such opportunity and continues in good faith to pursue such opportunity, neither VODone nor any VODone Affiliate will be permitted to pursue such opportunity.
The Board is pleased to announce that, on 20 May 2015 (after trading hours), CDZX, a wholly-owned subsidiary of CMGE which in turn is a non wholly-owned subsidiary of the Company entered into the Agreement with TZMT, pursuant to which CDZX has conditionally agreed to sell and TZMT has conditionally agreed to purchase the Sale Interest, representing 51% of the registered capital of BJZY, for a total cash consideration of RMB130 million payable in a few tranches as disclosed below.
The Disposal is in substance a strategic restructuring of BJZY, a previously inactive subsidiary of CMGE, with an aim to increase its profitability, and to provide incentive to ▇▇.
For the attention of: Board of directors For VODone: Address: Room ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇ Facsimile Number: +▇▇▇ ▇▇▇▇ ▇▇▇▇ For the attention of: Board of directors For CMGE: Address: Room ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇ Facsimile Number: +▇▇▇ ▇▇▇▇ ▇▇▇▇ For attention of: Board of directors or at such other address as it may have notified to the other Parties in accordance with this Clause.
Owing to these uncertainties, it is difficult to estimate a gain or loss on the Disposal to be recorded in the accounts of CMGE, and in turn in the accounts of the Company.
CMGE will use the proceeds from the Disposal (i) as to RMB20 million for capital contribution to the enlarged registered capital of BJZY and (ii) as to the balance of RMB110 million for general working capital.
The rights and remedies of CMGE to this Agreement are cumulative and not alternative.
All information provided in this press release and in the attachments is as of the date of the press release, and CMGE undertakes no duty to update such information, except as required under applicable law.
After completion of the 2nd Tranche Sale, assuming no clawback of BJZY’s shares, BJZY will cease to be a subsidiary of CMGE, and in turn will also cease to be a subsidiary of the Company.