SWHY definition
Examples of SWHY in a sentence
As at the date of the Licence Agreement, SWHY International directly and indirectly holds approximately 75% of the issued shares of the Company and is the controlling shareholder of the Company.
The maximum aggregate amount payable by SWHY International to SWHY Enterprises pursuant to the provisions of the Previous De Minimis Agreement would not exceed HK$ 2,080,000.
Therefore, SWHY International is regarded as a connected person of the Company and the entering into of the Licence Agreement constitutes a continuing connected transaction.
The Directors believe that the entering into of the Licence Agreement will continue providing a platform to maintain a close business relationship between the Group and SWHY International, the controlling shareholder of the Company.
The maximum amount payable by SWHY International to SWHY Enterprises pursuant to the provisions of this licence agreement for the period from 1 January 2024 to 6 May 2024 would be approximately HK$ 2,740,000.
Except for the 154,110 shares of common stock held by Bimini, no Equity Interests are issued and outstanding.
On 18 August 2021, SWHY Enterprises, a direct wholly-owned subsidiary of the Company, as the Licensor and SWHY International as the Licensee entered into the Licence Agreement pursuant to which the Licensor agreed to license the Premises to the Licensee for a term commencing from 18 August 2021 to 6 May 2024 (both dates inclusive).