CAPITAL INCREASE AGREEMENT. As soon as practicable but in no event later than ninety (90) days after the Closing or such other later date as agreed by holders of at least sixty percent (60%) of the then issued and outstanding Series B Preferred Shares, the Warrantors shall cause the Beijing Subsidiary to enter into a capital increase agreement with XXX Xxxxxxx (汉雨生), in form and substance reasonably satisfactory to the Investor, pursuant to which the XXX Xxxxxxx (汉雨生) agrees to purchase certain percentage of equity interest of the Beijing Subsidiary (such purchase, the “Capital Increase”), and immediately after the Capital Increase and the Equity Adjustment (as defined below), the shareholding percentage in the Beijing Subsidiary of XXX Xxxxxxx (汉雨生) in aggregate shall be equivalent to the then shareholding percentage in the Company of the Shares held indirectly by XXX Xxxxxxx (汉雨生) through the Holding Entity plus the Shares reserved under the Option Plan.
CAPITAL INCREASE AGREEMENT. Date Parties
(a) The Company
(b) CSAHC
(c) Xiamen Airlines
(d) Shantou Airlines
(e) Zhuhai Airlines
(f) Nanland Pursuant to the Capital Increase Agreement, the parties agreed that the Capital Increase shall be made in the following manner:
(a) the Company and the CSAHC agreed to increase their respective capital contribution in the total sum of RMB500 million to the Finance Company, in which RMB348,597,550 will be used in increasing the registered capital from RMB724,329,500 to RMB1,072,927,050, while RMB151,402,450 will be used to increase the capital reserve of the Finance Company;
(b) the Company agreed to make a capital contribution in the sum of RMB169,888,917.96 by way of cash to the Finance Company;
(c) the CSAHC agreed to make a capital contribution in the sum of RMB330,111,082.04 by way of cash to the Finance Company;
(d) Xiamen Airlines, Shantou Airlines, Zhuhai Airlines and Nanland, the non-wholly owned subsidiaries of the Company, agreed to waive their rights of capital contribution. The above amounts of capital contribution to the Finance Company were determined after arm's length negotiations among the parties with reference to, among other things, the net asset value of the Finance Company as at 31 May 2016 and the current respective proportion of shareholding of the parties in the Finance Company. According to the valuation report dated 30 August 2016 prepared by China United Assets Appraisal Group Co., Ltd. (中聯資產評估集團有限公司) (an independent qualified valuer in the PRC), the valuation of the net assets value of the Finance Company amounted to RMB1,038,919,400 as of 31 May 2016 (equivalent to net asset value of RMB1.4343 per share of the Finance Company). Although the valuation was valued based on an income approach, the Finance Company is not a subsidiary of the Company as at the date of the announcement, and will not become a subsidiary of the Company upon completion of the Capital Increase, the valuation does not constitute a profit forecast under Rule 14.61 of the Listing Rules and Rules 14.60A and 14.62 of the Listing Rules. The respective capital contribution will be payable in full by each of the Company and the CSAHC to the Finance Company in cash within 60 business days upon obtaining the approval from the relevant regulatory authorities. The Capital Increase Agreement shall take effect on the date of being signed and chopped by the legal representatives or the authorized representatives of both parties. The following table is the summ...
CAPITAL INCREASE AGREEMENT. The Capital Increase was approved at the meeting of the board of Directors of the Company held on 29 July 2020. The Company entered into the Capital Increase Agreement with the existing shareholders of Xiapu Nuclear, being Huaneng Nuclear, HIPDC, China Nuclear, Fujian Funeng and Ningde Investment. Major terms of the Capital Increase Agreement are as follows:
CAPITAL INCREASE AGREEMENT. CAPITAL INCREASE AGREEMENT LISTING RULES IMPLICATIONS
CAPITAL INCREASE AGREEMENT. Date Parties
(a) The Company
(b) CSAH
(c) Xiamen Airlines
(d) Shantou Airlines
(e) Zhuhai Airlines
CAPITAL INCREASE AGREEMENT. Unless otherwise defined herein or specified in the context, the terms used herein shall bear the same meaning as those in the Capital Increase Agreement.
CAPITAL INCREASE AGREEMENT. The Company is pleased to announce that on 9 December 2019, the Company and Xxx Xxxxxxx, the director and management of Zhejiang New Century Manju Hotel Management Co., Ltd. ( 浙 江 開 元 曼 居 酒店管理有限公司)("New Century Manju") Xxxxx Xxxxxxx entered into the Capital Increase Agreement pursuant to which the Company and Xxx Xxxxxxx, Xxxxx Xxxxxxx agreed to increase the registered capital of the Company's wholly-owned subsidiary New Century Manju by RMB73,000,000, i.e. from RMB 27,000,000 to RMB 100,000,000. Further particulars of the Capital Increase Agreement are set out below: Date of the Transaction 9 December 2019 Parties:
(1) The Company;
(2) Xxx Xxxxxxx; and
(3) Xxxxx Xxxxxxx Target Company New Century Manju Prior to the Capital Increase, the registered capital of New Century Manju is RMB 27,000,000, with all interest held by the Company. According to the Capital Increase, the Company will contribute RMB 42,016,000, Xxx Xxxxxxx will contribute RMB 20,656,000, and Xxxxx Xxxxxxx will contribute RMB 10,328,000. Upon completion of the Capital Increase, the registered capital of New Century Manju will be increased from RMB 27,000,000 to RMB 100,000,000. The proportion of shareholding interest of the Company, Xxx Xxxxxxx and Xxxxx Xxxxxxx in the New Century Manju will be 70%, 20% and 10%, respectively. The amount of capital contributed by, and the shareholding interest held by the shareholders of New Century Manju immediately before and after the Capital Increase are set out below: As at the date of this announcement and prior to completion of the Capital Increase Upon completion of the Capital Increase Name of Shareholder Registered Capital of New Century Manju Shareholding Capital contribution contemplated under the Capital Increase Agreement Registered Capital of New Century Manju Shareholding (RMB’000) (%) (RMB’000) (RMB’000) (%) The Company 27,000 100 42,016 70,000 70 Xxx Xxxxxxx - - 20,656 20,000 20 Xxxxx Xxxxxxx - - 10,328 10,000 10 The amount of Capital Increase to New Century Manju was determined after arm’s length negotiations among the parties to the Capital Increase Agreement with reference to, among others, the net assets of New Century Manju as at 30 April 2019 as assessed by Beijing North Asia Asset Assessment Firm (RMB30.3 million), and the capital requirement of New Century Manju. Pursuant to the Capital Increase Agreement, the Company, Xxx Xxxxxxx and Xxxxx Xxxxxxx will contribute to the Capital Increase by way of cash. Such payment is expected to b...
CAPITAL INCREASE AGREEMENT. On 27 October 2011, the Board approved the proposal of entering into the Capital Increase Agreement by the five wholly-owned subsidiaries of the Company with COSCO, its eight subsidiaries and COSCO Finance on or around 15 November 2011 in order to increase the registered capital of COSCO Finance from RMB800 million to RMB1,600 million. The Company and its subsidiaries will contribute a total of RMB306 million. Upon completion of the proposed capital increase, the total equity interest held by the Group in COSCO Finance will remain 38.25% and hence COSCO Finance will still be an associate of the Company. COSCO is the controlling shareholder of the Company. Therefore, COSCO and its subsidiaries are connected persons of the Company for the purposes of Chapter 14A of the Listing Rules. Accordingly, the transactions contemplated under the Capital Increase Agreement constitute connected transactions of the Company. As one or more of the applicable percentage ratios in respect of transactions contemplated under the Capital Increase Agreement exceed 0.1% but are less than 5%, such transactions are subject to the reporting and announcement requirements, but are exempt from the independent shareholders’ approval requirement under Chapter 14A of the Listing Rules.
CAPITAL INCREASE AGREEMENT. Reference is made to the announcement of the Company dated 22 May 2019 in relation to the approval of the proposed capital contribution to Dongshu New Material of RMB150 million to be injected by DEC in cash by the Board of the Company. The Board announces that, on 18 June 2019, DEC entered into the Capital Increase Agreement with Dongfang Turbine Company, pursuant to which DEC agreed to make a capital contribution to Dongshu New Material in an amount of RMB150 million. The registered capital of Dongshu New Material will be increased from RMB40 million to RMB190 million.
CAPITAL INCREASE AGREEMENT. On 23 December 2016, the Company entered into the Capital Increase Agreement with CSAHC, Xiamen Airlines, Shantou Airlines, Zhuhai Airlines and Nanland, pursuant to which the parties agreed the Company and CSAHC to increase their respective capital contribution in the total sum of RMB500 million to the Finance Company, in which RMB348,597,550 will be used in increasing the registered capital from RMB724,329,500 to RMB1,072,927,050, while RMB151,402,450 will be used to increase the capital reserve of the Finance Company. Xiamen Airlines, Shantou Airlines, Zhuhai Airlines and Nanland, the non-wholly owned subsidiaries of the Company, has agreed to waive their rights of capital contribution. Upon completion of the Capital Increase, the equity interests in the Finance Company held by CSAHC would remain as 66.022%, while the equity interests in the Finance Company held by Company would increase from 21.089% to 25.277%.
