Common use of COMPLETION OF THE PLACING Clause in Contracts

COMPLETION OF THE PLACING. Subject to fulfilment of the Conditions, Completion shall take place in the following manner: - (a) on or before 11:00 a.m. on the Completion Date, the Company shall allot and issue all Placing Shares and deposit all Placing Shares into the CCASS Participant Account designated by the Placing Agent; and (b) on or before 11:00 a.m. on the Completion Date, the Placing Agent shall pay or procure payment to the Company in HK$ the Placing Proceeds less the Expenses and the placing commission payable to it pursuant to Clause 5.1(a) by cheque (crossed “account payee only”) or cashier’s order drawn on a licensed bank in Hong Kong and payable to the Company or, if the Company so requests in writing, by transfer to such bank account as the Company may have nominated in writing or by such other means as the Company and the Placing Agent may agree.

COMPLETION OF THE PLACING. Subject to fulfilment of the Conditions, Completion shall take place in the following manner: - (a) on at or before 11:00 9:30 a.m. on the Completion Date, the Company shall allot and issue all Placing Shares and deposit all Placing Shares into the CCASS Participant Account designated by the Placing Agent; and (b) on at or before 11:00 about 9:30 a.m. on the Completion Date, the Placing Agent shall pay or procure payment to the Company in HK$ the Placing Proceeds less (i) the Expenses and (ii) the placing commission payable to it pursuant to Clause 5.1(a) by cheque (crossed “account payee only”) or cashier’s order drawn on a licensed bank in Hong Kong and payable to the Company or, if the Company so requests in writing, by transfer to such bank account as the Company may have nominated in writing or by such other means as the Company and the Placing Agent may agree. Such payment shall constitute a complete discharge of the obligations of the Placing Agent under this Agreement.