Disposal Assets definition
Examples of Disposal Assets in a sentence
The original book value of such Disposal Assets (including principals and interests accrued thereof) was approximately RMB25.9 billion (equivalent to approximately HK$31.1 billion) as at 30 September 2021.
In essence, the Bank, as the seller of the Disposal Assets, will send invitation letters to not less than three potential purchasers and tender or competitive bidding will be held after the approval by the Shareholders in respect of the Disposal, and the potential purchaser with the highest bid shall win the bidding.
Subject of the Disposal Subject to obtaining the approval from the Shareholders at the EGM and the fulfillment of any condition precedent of the specific disposal agreement(s) to be entered into in respect of the Disposal, the Bank will dispose of, and the purchaser(s) will purchase the Disposal Assets, being certain credit assets and other financial assets held by the Bank.
Following the completion of the sale of the Disposal Assets to Cuprum Holding (a company owned by Vladimir Kim, a Director of the Company, and Eduard Ogay, a former Director of the Company) on 31 October 2014, Cuprum Holding and its subsidiaries are considered related parties of the Group.
The total consideration for the Disposal Assets shall be settled by cash only, and the payment schedule for the sale and purchase of each relevant Disposal Assets shall be governed by each specific disposal agreement to be entered into between the Bank and potential purchaser(s).