Sunac definition
Examples of Sunac in a sentence
Sunac China is a controlling shareholder and a connected person of the Company under the Listing Rules.
Hangzhou Sunac Greentown is a company established in the PRC and principally engaged in property development of Hangzhou Melodious Manor in the PRC.
On 22 July 2016, the Company entered into the Supplemental Framework Agreement with Sunac China, pursuant to which (i) the sale and purchase of the entire equity interest in ▇▇▇ ▇▇▇▇ Da; and (ii) the settlement of the intercompany loans in relation to ▇▇▇ ▇▇▇▇ ▇▇ will be excluded from the Framework Agreement.
As of the date of this announcement, Beijing Xingye Wanfa is owned as to 55% by Beijing Greentown Investment and 45% by Sunac Construction.
As of the date of this announcement, Shanghai Huazhe Bund is beneficially owned as to the return on investment of 51% equity interests by Shanghai Sunac Greentown and 49% by other third parties independent to the Company save for each of them being a shareholder of Shanghai Huazhe Bund.
On 11 June 2021, the Company (for itself and on behalf of the Group) and Sunac China (for itself and on behalf of the Sunac Group) entered into the Housing Repair Services Framework Agreement, pursuant to which members of the Group agreed to provide property pre-delivery quality control and repair and maintenance services within the warranty period after delivery to members of the Sunac Group during the period from 11 June 2021 to 31 December 2023.
As at the date of this announcement, Sunac China holds a total of 69.60% interest in the Company.
Completion of the transaction shall take place within 10 business days upon payment of the consideration in full by Shanghai Sunac Real Estate and fulfillment of other conditions precedents for the acquisition.
Accordingly, the Directors (including independent non-executive Directors) are of the view that the consideration for the acquisition of the 50% equity interests in Shanghai Forest Golf by Sunac Zhidi from Greentown Real Estate is fair and reasonable and in the interests of the Shareholders as a whole.
Accordingly, the Directors (including independent non-executive Directors) are of the view that the consideration in relation to the disposal of the return on investment in Shanghai Huazhe Bund attributable to Shanghai Sunac Greentown to Greentown Real Estate is fair and reasonable and in the interests of the Shareholders as a whole.