Examples of Excluded Business in a sentence
As such, the accountant’s report included the financial information of the Excluded Business before the completion of the reorganisation.
Seller shall promptly forward or cause to be forwarded to Buyer any and all proceeds from accounts receivable relating to the Business that are received by Seller or its Affiliates on or after the Closing Date, and Buyer shall promptly forward or cause to be forwarded to Seller any and all proceeds from accounts receivable relating to the Excluded Business that are received by Buyer or any of its Affiliates on or after the Closing Date.
Given the cash flow of Company I’s business was aggregated with that of the Excluded Business, there was no information to show Company I’s cashflow independently and it was unclear whether Company I could meet the minimum cash flow requirement under GEM Rule 11.12A(1) if the contribution from the Excluded Business was excluded.
Given that Company I’s financial information before and after the exclusion of the Excluded Business were not comparable, additional disclosure should have been included to enable investors to assess the performance of Company I.
As Company I’s accountant’s report contained the financial information of the Excluded Business before the completion of the reorganisation, the Application Proof did not fully reflect the performance of Company I.