PTHD definition
Examples of PTHD in a sentence
Pursuant to the terms of the Joint Venture Agreement, IPPL has agreed to subscribe for 14,520 ordinary shares at S$1,000 per ordinary share for a total sum of S$14,520,000 (the “Subscription Amount”) which will represent a 5.86% equity interest in PTHD which translates into an effective stake of 2.93% of the Beijing Tongzhou Integrated Development.
IPPL has paid 35% of the Subscription Amount or S$5.1 million in aggregate, as a commitment payment (“Commitment”) to PTHD, which will be applied towards satisfaction of part of the Subscription Amount due from IPPL for the issue of the ordinary shares to IPPL.
The balance of the Subscription Amount of S$9.42 million is to be paid to PTHD, after the execution of certain land transfer agreement in respect of the first plot of land with the relevant Chinese government authorities.
PTHD is a private company incorporated in Singapore as an investment holding company which will indirectly hold 50% of the equity interest in three special purpose companies which will be incorporated in the People’s Republic of China to hold the Land Plots.