LFY definition
Examples of LFY in a sentence
As at 28 December 2012, 21.72% of the equity interest of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ was held by Changzhou LFY, a company beneficially owned as to 50% by each of the Pan’s Father and Pan’s Mother; 30% of the equity interest of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ was held by ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, a company beneficially owned as to 50% by each of the Pan’s Father and Pan’s Mother; and 48.28% of the equity interest of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ was held by Silver Island Limited, a company beneficially owned as to 100% by Mr. ▇▇▇, a Director.
The entering into of the Supplemental Changzhou LFY Agreements constituted continuing connected transactions of the Company under Chapter 14A of the Listing Rules.
As Mr. ▇▇▇ was then and still is a Director, Changzhou LFY was and still is an associate of Mr. ▇▇▇ and therefore a connected person of the Company under Rule 14A.11(4) of the Listing Rules.
LFY represents and warrants that, to the best of its knowledge, it has no liabilities or obligations other than those set forth on Schedule A attached hereto; and LFY further represents and warrants that the aggregate dollar value of such liabilities and obligations does not exceed Six Million Nine Hundred Thousand Dollars ($6,900,000.00).
The individuals serving as directors of LFY immediately prior to the Effective Date (the “LFY Directors”) shall resign as of the Effective Date.
The Directors (including the independent non-executive Directors) are of the view that the Supplemental Changzhou LFY Agreements was entered into in the ordinary and usual course of business of the Group, on normal commercial terms and that the terms thereof (including the proposed annual caps) are fair and reasonable, and in the interests of the Company and the Shareholders as a whole after taking into account the above factors.
As of the Effective Date, all accounts receivable of LFY will be transferred to YGBW and all accounts payable of LFY will be assumed by YGBW.
LFY shall, at its own expense, file any state and/or federal tax returns or other documents with respect to its 2020 tax year and shall provide YGBW with copies of any and all such filings promptly thereafter.
At any time prior to the third anniversary of the Effective Date, YGBW may, in its absolute discretion, elect to “de-merge” (i.e., unwind) so that YGBW and LFY are returned to substantially the same position as they were prior to the Effective Date.
After the Effective Date, all future designations by donors, contributors or testators to LFY will be received and/or accepted by YGBW.