Examples of Project Companies in a sentence
Since the Shopping Malls held by the Project Companies have already been reflected in the financial statements of the Group on a fair value basis and that is generally consistent with the value of the total assets of the Shopping Malls as at the Valuation Date (the changes in fair value of which are confirmed in the financial statements of the Group), the Group does not expect to generate any proceeds or recognise in its income statement any substantial gain or loss in relation to this Transaction.
The payment of RMB26,042,000 in cash from Red Star Management to Yantai Red Star, represents the shortfall between the Consideration and the valuation of the equity interests of the Project Companies as of the Equity Transfer Valuation Date.
Consideration: RMB2,650,000,000, which shall be payable by Red Star Management by way of (i) selling its 100% equity interests in the Project Companies; and (ii) paying RMB26,042,000 in cash by Red Star Management to Yantai Red Star, representing the shortfall between the Consideration and the valuation of the equity interests of the Project Companies (which is currently determined at RMB2,623,958,000) as of the equity transfer valuation date of 30 April 2017 (the “ Equity Transfer Valuation Date”).
For the avoidance of doubt, the valuation of the equity interests of the Project Companies as of the Equity Transfer Valuation Date shall be equivalent to the sum of (i) the amount of the net asset value of the Project Companies as at 31 March 2017 (the “Valuation Date”) and (ii) the actual gain and loss incurred by the Project Companies from the Valuation Date to the Equity Transfer Valuation Date.
The Parties also took into account the actual gain and loss of the Project Companies recorded between the ValuationDate and the Equity Transfer Valuation Date of RMB9,016,000.