LISTING RULES IMPLICATIONS Sample Clauses
The 'Listing Rules Implications' clause defines how the agreement or transaction must comply with the rules and requirements set by the relevant stock exchange or listing authority. In practice, this clause typically requires the parties to ensure that any actions taken under the agreement do not breach listing rules, such as disclosure obligations, shareholder approval requirements, or restrictions on certain transactions. Its core function is to ensure that the parties remain in good standing with the exchange and avoid regulatory penalties or disruptions to their listed status.
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LISTING RULES IMPLICATIONS. Beijing Shougang is a wholly-owned subsidiary of Shougang Group. Prior to 16 November 2017, Shougang Group, through its subsidiaries, held approximately 2.24% interest in the Company and is not a connected person of the Company. The Share Transfer Agreement and the Repurchase Agreement were not connected transactions for the Company for the purpose of Chapter 14A of the Listing Rules at the time when they were entered into. As each of the applicable ratios in respect of the Share Transfer and the Repurchase under Rule 14.07 of the Listing Rules is under 5%, the Share Transfer Agreement and the Repurchase Agreement also did not constitute notifiable transactions for the Company at the time when these agreements were entered into. Shougang International conducted an open offer in September 2017 where Shougang Holding, a wholly-owned subsidiary of Shougang Group, was the underwriter of the open offer. Through Shougang Holding taking up the underwritten shares of Shougang International in the open offer, Shougang International became a subsidiary of Shougang Group upon completion of the open offer on 16 November 2017. As Shougang International is a substantial shareholder of the Company, Shougang Group also became a substantial shareholder of the Company from 16 November 2017 and the transactions between the Group and Shougang Group and/or its associates become connected transactions for the Company for the purpose of the Listing Rules. As Beijing Shougang is a wholly-owned subsidiary of Shougang Group, the entering into of the Supplemental Share Transfer Agreement and the Supplemental Repurchase Agreement constitutes connected transactions for the Company under Chapter 14A of the Listing Rules. As the applicable ratios under Rule 14.07 of the Listing Rules in respect of the transactions contemplated under the Share Transfer and the Repurchase are more than 0.1% but are less than 5%, the Supplemental Share Transfer Agreement and the Supplemental Repurchase Agreement are subject to the reporting and announcement requirements but exempt from the independent shareholders’ approval requirement under Chapter 14A of the Listing Rules.
LISTING RULES IMPLICATIONS. The provision of the Entrusted Loan by the Company to Nanyang Properties constituted a discloseable transaction under Chapter 19 of the GEM Listing Rules and would have been subject to reporting and announcement requirements. The provision of the Entrusted Loan by the Company to Nanyang Properties also constituted financial assistance provided by the Company not in the ordinary and usual course of business for the benefit of a connected person. As the relevant percentage ratios of the Entrusted Loan Agreement were more than 2.5% and the total value of the assistance exceeded HK$10,000,000, the Entrusted Loan would have been subject to reporting, announcement and Independent Shareholders’ approval requirements under Chapter 20 of the GEM Listing Rules. Further, pursuant to Rule 17.15 of the GEM Listing Rules, a disclosure obligation arose when the Company entered into the Entrusted Loan Agreement as the provision of the Entrusted Loan exceeded the 8% threshold of the assets ratio. The Company admits that it had overlooked the requirements to comply with the relevant provisions under Chapters 17, 19 and 20 of the GEM Listing Rules at the time when it entered into the Entrusted Loan Agreement. The Company has forthwith admitted the breaches to the Stock Exchange and has taken steps to rectify the breach, including by way of this announcement. As the Entrusted Loan and the interest accrued thereon have been fully repaid to the Company, the Independent Shareholders’ approval of the Entrusted Loan could not be retroactively sought. Accordingly, the Company will not convene a general meeting to approve the Entrusted Loan. An Independent Board Committee will be established to advise the Independent Shareholders in relation to the Entrusted Loan. An Independent Financial Adviser will be appointed by the Company to advise the Independent Board Committee and the Independent Shareholders in relation to the Entrusted Loan as if there shall be a general meeting of the Company to approve the Entrusted Loan Agreement. A circular containing, among others, further details of the Entrusted Loan Agreement together with a letter from the Independent Board Committee to the Independent Shareholders and a letter from the Independent Financial Adviser to the Independent Board Committee and the Independent Shareholders will be despatched to the Shareholders as soon as practicable.
LISTING RULES IMPLICATIONS. To the best of the Directors’ knowledge, information and belief having made all reasonable enquiry, Beijing Senmeng Media is a third party which is independent of any of the promoters, directors, supervisors, chief executive or substantial shareholders (as defined in the Listing Rules) of the Company or any of its subsidiaries, or any of their respective associates save for the entering into of the Agreements. The applicable percentage ratios (as defined in Rule 14.04(9) of Listing Rules) for the First Capital Increase Agreements are less than 5%. However, the transaction contemplated thereunder, when aggregated with the relevant transactions in relation to the Second Capital Increase Agreement, the Cooperation Agreement and the Supplemental Agreement, constitutes a discloseable transaction of the Company pursuant to Rule 14.06(2) of the Listing Rules. Such Transaction is subject to the notification and publication requirements set out in Rule 14.33 of the Listing Rules. Immediately after and as a consequence of the completion of the transaction under the First Capital Increase Agreement, Beijing Senmeng Media is entitled to exercise 49% voting power at the general meeting of Golden Bridge Senmeng, and therefore constitutes a connected person of the Company. Hence, the transactions contemplated under the Second Capital Increase Agreement, the Cooperation Agreement and the Supplemental Agreement between CTV Media (Shanghai) and Beijing Senmeng Media constitute connected transactions of the Company under the Listing Rules. As Beijing Senmeng Media receives a pro rata entitlement to the equity interests in Golden Bridge Senmeng in its capacity as a shareholder, the transaction contemplated under the Second Capital Increase Agreement is exempt from all the reporting, announcement and independent shareholders’ approval requirements pursuant to Rule 14A.31(3)(a) of the Listing Rules. The relevant applicable percentage ratios (as defined in Rule 14.04(9) of Listing Rules) for the first equity acquisition under the Cooperation Agreement are more than 0.1% but is less than 2.5%, and therefore, the transactions contemplated thereunder constitute connected transaction subject to the reporting and announcement requirements, but will be exempt from Independent Shareholders’ approval requirements set out in Chapter 14A of the Listing Rules. Upon the terms and conditions of the second and third equity acquisitions contemplated under the Cooperation Agreement being finali...
LISTING RULES IMPLICATIONS. The entering into of the New Agreements on their own does not exceed 5% of any of the percentage ratios under Rule 14.07 of the Listing Rules. However, when aggregating the Previous Transactions with the New Agreements, it will result in certain percentage ratios exceed 5% but less than 25%, and hence the entering into of the Previous Transactions together with the New Agreements constitutes a disclosable transaction of the Company under Chapter 14 of the Listing Rules and is therefore subject to the notification and announcement requirements under Chapter 14 of the Listing Rules.
LISTING RULES IMPLICATIONS. As one or more of the applicable percentage ratios (as defined under the Listing Rules) in respect of the Transaction exceeds 5% but is less than 25%, the Transaction constitutes a discloseable transaction of the Company under Chapter 14 of the Listing Rules which is subject to reporting and announcement requirements thereunder.
LISTING RULES IMPLICATIONS. As the highest applicable percentage ratio in respect of the Finance Lease Agreement exceeds 5% but is less than 25%, the entering into of the Finance Lease Agreement constitutes a discloseable transaction of the Company and is therefore subject to the notification and announcement requirements under Chapter 14 of the Listing Rules.
LISTING RULES IMPLICATIONS. Since the highest of the applicable percentage ratios in respect of the amount of the Disposal is over 25% but less than 75%, the entering into of the Disposal constitutes a major transaction of the Company under Chapter 14 of the Listing Rules and is therefore subject to the reporting, announcement and shareholders’ approval requirements under Chapter 14 of the Listing Rules.
LISTING RULES IMPLICATIONS. As one or more of the applicable percentage ratios in respect of the Acquisition are greater than 5% but all are less than 25%, as calculated under Rule 14.07 of the Listing Rules, the Acquisition constitutes a discloseable transaction for the Company and is subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules.
LISTING RULES IMPLICATIONS. In accordance with HKFRS 16 “Leases”, the Group shall recognize the lease of the properties under the Lease Agreements as right-of-use asset in its consolidated balance sheet. Accordingly, the transactions contemplated under the Lease Agreements will be regarded as an acquisition of right-of-use asset by the Group for the purpose of the Listing Rules. As Yuexiu Property is the controlling shareholder of the Company, it is a connected person of the Company under the Listing Rules. As at the date of this announcement, Yuexiu Property owns approximately 37.61% of Yuexiu REIT’s units, and therefore Yuexiu REIT is an associate of a connected person of the Company under the Listing Rules. Accordingly, the transactions contemplated under the Lease Agreements entered into by the Group with certain subsidiaries of Yuexiu REIT will constitute connected transactions for the Company under Chapter 14A of the Listing Rules. Given the Lease Agreements involve the leasing of properties by the Group with parties who are connected with one another, are similar in nature or otherwise connected, they are required to be aggregated as if they were one transaction. As the highest applicable percentage ratio in respect of the transactions contemplated under the Lease Agreements (including the revenue ratio after taking into account the preliminary estimated revenue which may be generated from subleasing the carparks under the relevant Lease Agreements) exceeds 0.1% but is less than 5%, the transactions contemplated thereunder are subject to the reporting and announcement requirements but exempt from the circular and independent shareholders’ approval requirements pursuant to Rule 14A.76(2)(a) of the Listing Rules. None of the other Directors has or is deemed to have a material interest in the Lease Agreements and the transactions contemplated thereunder.
LISTING RULES IMPLICATIONS. The Lessees and the Supplier are under the common control of the same ultimate beneficial owner, the Lessees and the Supplier are parties connected with one another (as set out under Rule 14.23 of the Listing Rules). As the transactions under the Agreements were entered into during the 12-month period, according to Rule 14.22 of the Listing Rules, the transactions thereunder shall be aggregated as a series of transactions. As the highest applicable percentage ratio under each of the Agreements is less than 5%, while the highest applicable percentage ratio upon aggregation of the Agreements is higher than 5% but less than 25%, the transactions contemplated under the Purchase Agreement VIII and the Finance Lease Agreement VIII constitute a disclosable transaction of the Company and are subject to the notification and announcement requirements under Chapter 14 of the Listing Rules.