Examples of First Subscription Agreement in a sentence
As disclosed in the announcement of the Company dated 1 March 2016, the First Subscription Agreement ceased to be effective as of 28 February 2016 as certain conditions precedent under the First Subscription Agreement remained outstanding as at the long stop date.
The First Subscription Agreement, the Second Subscription Agreement, the Third Subscription Agreement, the Fourth Subscription Agreement, the Fifth Subscription Agreement, the Sixth Subscription Agreement, the Seventh Subscription Agreement, the Eighth Subscription Agreement and the Nineth Subscription Agreement are not inter- conditional upon each other.
On 13 February 2019 (after trading hours), the Company, Xin Hua and Noble entered into the First Subscription Agreement, pursuant to which the Company conditionally agreed to allot and issue and each of Xin Hua and Noble conditionally agreed to subscribe for 7,300,000,000 Subscription Shares and 1,700,000,000 Subscription Shares respectively, constituting an aggregate of 9,000,000,000 Subscription Shares, in each case at an issue price of HK$0.02 per Subscription Share.
On 29 March 2019, the Company, Xin Hua and Noble entered into the Supplemental Agreement, pursuant to which the parties thereto agreed to cancel Noble’s subscription of New Shares under the First Subscription Agreement, while the subscription by Xin Hua of 7,300,000,000 Subscription Shares remained unchanged.
The First Subscription Agreement, the Second Subscription Agreement and the Third Subscription Agreement are not inter-conditional upon each other.
Accordingly, Mr. Wang Chaoguang is considered to have a material interest in the First Subscription Agreement (including the grant of the Specific Mandates in connection with the First Subscription Agreement) and the transactions contemplated thereunder by virtue of his interest in the First Subscriber, and had abstained from voting on the Board resolution(s) approving the First Subscription Agreement and the transactions contemplated thereunder.
The First Subscription Agreement, the Second Subscription Agreement, the Third Subscription Agreement, the Fourth Subscription Agreement and the Fifth Subscription Agreement are not inter-conditional upon each other.
In the event that all the conditions have not been fulfilled by the Long Stop Date, the First Subscription Agreement will be terminated and ceased to be effective, neither parties have obligations and liabilities thereafter save for any antecedent breach.
The Grand Decade’s Subscription under the First Subscription Agreement, together with the Amended TRS Transaction with Natixis are related and to be completed within a 12-month period.
On 30 August 2021, the convertible bonds in the aggregate principal amount of HK$50,000,000 (the “ First Convertible Bonds”) were issued to the First Subscriber (the “Subscription”) as all the conditions precedent as set out in the First Subscription Agreement have been fulfilled.