LCNG definition
Examples of LCNG in a sentence
The subsidiaries (including ENN-NG) and associates of LCNG are also regarded as connected persons of the Company.
As at the date of this announcement, LCNG, through its subsidiaries, holds approximately 32.67% of the issued share capital of the Company, therefore LCNG is a controlling shareholder and a connected person of the Company.
Concerning Mortgage Loans for which the Subservicer drafts monthly payments electronically from the Borrower's bank account, such drafting occurs in compliance with Agency Requirements, and the applicable agreement with the Borrower.
The Group has been employing ENN-NG (as a member of the LCNG Group) to provide relevant services from time to time.
The New Master Agreements entered into between the Company and LCNG or ENN-NG are non-exclusive in nature.
Each of the proposed annual caps only represents the maximum transaction amount best estimated by the Company for the respective New Master Agreements after taking into account factors set out under the section headed “Proposed When deciding to choose between LCNG Group or the ENN-NG Group (as the case may be) and an independent third party as the service provider, the Group will conduct a screening process based on the type of transaction.
As at 30 June 2023, the aggregate length of the Group’s pipelines in operation was 9,327.49 kilometres with 6 CNG primary filling stations, 3 CNG secondary filling stations, 3 LNG refilling stations and 2 L-CNG joint filling stations in operation and had an aggregate of 619,416 customers.
As at the date of this announcement, ENN-NG is a subsidiary indirectly held by LCNG.
The businesses of LCNG cover the energy sector, including energy and chemical engineering, LNG terminals, natural gas procurement and sales; the lifestyle sector, including real estate, tourism, cultural and healthcare industry; the high-tech sector, including smart city operations, industrial network operation, cloud computing and artificial intelligence.
Reference is made to the announcement of the Company dated 30 November 2018 in relation to, among other things, the continuing connected transactions under the Existing Master Agreements of the Group entered into with LCNG Group.