Vanke definition
Examples of Vanke in a sentence
Leveraging our long-term relationship with the Retained China Vanke Group, members of the Retained China Vanke Group and their respective associates had well performed the relevant contractual obligations at fair and reasonable prices in previous transactions.
To the best knowledge, information and belief of the Directors, having made all reasonable enquiries, no Shareholder apart from China Vanke and its associates shall abstain from voting on the resolutions approving the New Management Services Framework Agreement and the transactions contemplated thereunder and the New Annual Caps.
Shanghai Vanke Investment is a wholly-owned subsidiary of China Vanke.
Further to the Letter of Intent, the Board is pleased to announce that on 9 February 2018, the Company entered into the Framework Agreement with Vanke Real Estate, pursuant to which Vanke Real Estate agreed to provide, and the Company agreed to receive the services in relation to (i) the development and construction of properties in the Nanshan Land; (ii) the sale of the Available-for-sale Properties; and (iii) the operation of the Entrusted Properties.
The terms of the Framework Agreement and the transactions contemplated thereunder were agreed after arm’s length negotiations between the Company and Vanke Real Estate.
Pursuant to the Letter of Intent, Vanke Real Estate paid an amount of RMB1,771,000,000 as deposit to the Company on 29 December 2017.
If the Company is unable to convene the Shareholders’ meeting or to obtain Shareholders’ approval by 30 April 2018 or such other time as agreed in writing by the parties, the Company shall return the ▇▇▇▇▇▇▇ money already paid to Vanke Real Estate in the amount of RMB1,771,000,000 and pay an additional amount of RMB5,000,000 to Vanke Real Estate as compensation.
In the event the actual aggregate amount of sale of the Available-for-sale Properties exceeds RMB4,750,000,000, the Company agreed to pay the amount in excess thereof (net of any applicable costs and taxes) to Vanke Real Estate as the service fees for the services rendered in respect of the sale of the Available-for-sale Properties and the development and construction of properties in respect of the Nanshan Land.
Therefore, China Vanke and Shanghai Vanke Investment are connected persons of the Company under Chapter 14A of the Listing Rules.
The definitive AIoT and BPaaS solution services agreements to be entered into between members of our Group and members of the Retained China Vanke Group (including their respective associates) shall only contain provisions which are, in all material aspects, consistent with the binding principles, guidelines, terms and conditions set out in the Framework AIoT and BPaaS Solution Services Agreement.