Denway definition
Examples of Denway in a sentence
KKU was duly established in Indonesia in January 2008 with a registered capital of Rp66,800,000,000 (approximately HK$53,605,103.7, pursuant to an exchange rate of HK$1=Rp1,246.15), which was held as to 75% by Denway Development, 16.5% by PT Wira Perdana Konawe, and the remaining 8.5% by PT Sinindo Mining.
For the purpose of and in connection with the Northeastern Lion Acquisition, Hanking Group, two independent third parties to the Company and Denway Development entered into a novation agreement on 25 November 2012, pursuant to which Hanking Group transferred by novation to Denway Development all of its rights, liabilities, duties and obligations under and in respect of each of the Old Agreements (as appropriate).
According to the shareholders agreement entered into by City Globe and other shareholders of KP, and the shareholders agreement entered into by Denway Development and other shareholders of KS and KKU, in the event that GR23/2010 takes effect and applies to the Project Companies, the shareholders of the Project Companies other than City Globe and Denway Development would have to reduce their foreign shareholding in the Project Companies before the reduction by City Globe and Denway Development.
KS was duly established in Indonesia in May 2008 with a registered capital of Rp66,800,000,000 (approximately HK$53,605,103.7, pursuant to an exchange rate of HK$1=Rp1,246.15), which was held as to 75% by Denway Development, 16.5% by PT Wira Perdana Konawe, and the remaining 8.5% by PT Sinindo Mining.
City Globe holds 75% equity interest in KP, and Denway Development holds 75% equity interest in KS and KKU respectively.
It holds 100% equity interest in City Globe and Denway Development, respectively.
As at 30 September 2012, there are outstanding shareholder loans with a total amount of approximately RMB139 million due from City Globe and Denway Development to Hanking Group.
Harvest Globe is a non wholly-owned subsidiary of Denway Development and an indirectly non wholly-owned subsidiary of Northeastern Lion.