QHTS definition
Examples of QHTS in a sentence
A circular of each of QHA and EHA containing the letters from the respective independent board committees and the independent financial advisers, an independent valuation report of the ▇▇▇▇/REACH software and a 100% interest in the QHTS Service Agreement, together with a notice convening a special general meeting will be despatched to the respective shareholders of QHA and EHA as soon as practicable.
The independent valuation has included the value of a 100% interest in the QHTS Service Agreement (having taking into account, amongst other things, the past and estimated operating results in relation thereto) in addition to the value of the exclusive licence to use the ▇▇▇▇/REACH software within Hong Kong.
The transactions under the QHTS Service Agreement constituted ongoing connected transactions for QHA and EHA that had been disclosed in their respective circulars dated 5 June 2000 and approved by their respective independent shareholders on 28 June 2000.
Parties: ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ Limited (the Licensor) QHA (the Licensee) QHTS (the Warrantor) EHA China Region.
QHA’s Directors and EHA’s Directors have agreed the licence fee after taking into account, amongst other things, the customisation costs, the anticipated future modification and maintenance costs to be borne by QHA after the acquisition of the exclusive licence and the past and estimated operating results in relation to the services provided under the QHTS Service Agreement.
The discount is mainly attributable to a 75% reduction of the actual customisation costs of HK$8 million incurred by EHA for modification of the ▇▇▇▇/REACH software to cope with certain specifications required by the QHA Group pursuant to the QHTS Service Agreement, which QHA Directors consider to be sunk cost and therefore have not accounted for as the basis of consideration.
QHA’s Directors and EHA’s Directors consider that the service provided by the ▇▇▇▇/REACH software to QHA is the only recurring service that the QHA Group currently requires from the EHA Group under the QHTS Service Agreement.
Sallmanns (Far East) Limited, an independent professional valuer, has valued the exclusive licence to use the ▇▇▇▇/REACH software within Hong Kong and a 100% interest in the QHTS Service Agreement at approximately HK$16 million as at 1 November 2001.
The QHTS Service Agreement includes the use by the QHA Group of the ▇▇▇▇/REACH software worldwide.
The grant of an exclusive licence to use ▇▇▇▇/REACH software within the Greater China Region from the Licensor to QHA Group will replace the service currently provided under the QHTS Service Agreement and the termination of the QHTS Service Agreement is one of the conditions of the Licence Agreement.