Guoco definition
Examples of Guoco in a sentence
The transactions contemplated under the Master Services Agreements constitute continuing connected transactions for Guoco under the Listing Rules.
Subsidiaries under HLCM and GCAL which may become Service Providers under the Master Services Agreement are regarded as associates of connected persons of Guoco under Chapter 14A of the Listing Rules.
References are made to the announcement and the supplemental announcement of Guoco issued on 7 July 2017 and 18 July 2017 respectively regarding the master services agreements entered into by Guoco with the relevant service providers of the Hong ▇▇▇▇▇ Group for the provision of management services to the Guoco Group (the “2017 Services Agreements”), which constituted continuing connected transactions for Guoco under the Listing Rules.
Guoco is an investment holding and management company with operations and investments principally located in Asia and Europe.
The directors of Guoco (including the independent non-executive directors) are of the view that the basis of determining the Annual Cap is fair and reasonable and that the terms of the Master Services Agreements are fair and reasonable and in the interests of the Guoco Group and the shareholders of Guoco as a whole.
The transactions contemplated under the Master Services Agreement constitutes continuing connected transactions for Guoco under the Listing Rules.
The total fees paid by the Guoco Group in respect of the 2020 Services Agreements for each of the financial years ended 30 June 2021 and 30 June 2022 were approximately HK$45 million and HK$70 million respectively.
Guoco is an investment holding company and the principal activities of its subsidiaries and associated companies include stock and commodity broking, investment advisory, insurance, fund management, banking and finance as well as property development and investment.
The Services Agreement was entered into in the ordinary course of business of Guoco and the terms of the agreement were determined on an arms-length basis and which the directors of Guoco (including the independent non-executive directors) consider to be fair and reasonable so far as ▇▇▇▇▇’s shareholders’ interests are concerned.
Guoco will include details of the Services Agreement in its next published report and accounts.