FINANCE LEASE ARRANGEMENT. Subject to the fulfilment of certain conditions as set out in the Finance Lease Agreement (including but not limited to the obtaining of all necessary approvals by the Lessee in relation to the Finance Lease Arrangement and the signing by the Guarantor and the coming into effect of the relevant guarantee agreement), Chengtong Financial Leasing will purchase the Facilities from the Lessee at the Purchase Price of RMB80 million (equivalent to HK$96 million), and the Facilities will be leased back to the Lessee for a period of three (3) years (“Lease Term”) from the date on which the Purchase Price is paid by Chengtong Financial Leasing. If any of the conditions are not satisfied on or before 30 September 2018, Chengtong Financial Leasing shall have the right to unilaterally terminate the Finance Lease Agreement.
FINANCE LEASE ARRANGEMENT. The Board is pleased to announces that, on 29 September 2017 (after trading hours), Dao County (as Lessee), China Everbright (as Lessor/Purchaser), Haotai New Energy (as Vendor), Century Concord and the Company entered into the Finance Lease Arrangement, pursuant to which the Lessor has agreed to purchase the Equipment from the Vendor, and the Lessor has agreed to lease the Equipment to the Lessee for its power plant in Hunan Province, the PRC for a term of 10 years. All Equipment under the Finance Lease Arrangement are/will be purchased and being used by the Group for the operation of a wind power project of the Group in Hunan Province, the PRC. Whilst the Group has booked all the Equipment as its fixed assets in its financial statements pursuant to Hong Kong Financial Reporting Standards, as part of the purchase price of the Equipment due to the Vendor is still outstanding, the legal titles of such Equipment remain with the Vendor. Details of the Finance Lease Arrangement are summarized as follows:
FINANCE LEASE ARRANGEMENT. On 8 December 2014, Chengtong Financial Leasing, an indirect wholly-owned subsidiary of the Company, entered into the Lease Agreement with the Lessee pursuant to which Chengtong Financial Leasing will purchase the Facilities from the Lessee and will lease the Facilities back to the Lessee for a term of three (3) years. As more than one of the relevant percentage ratios (as defined under the Listing Rules) in respect of the Finance Lease Arrangement exceed 5% but are less than 25%, the Finance Lease Arrangement constitutes a discloseable transaction of the Company and is subject to the notification and announcement requirements under Chapter 14 of the Listing Rules.
FINANCE LEASE ARRANGEMENT. On 21 March 2018, Guangdong Xx Xx Tai (as purchaser and lessor), Zhuhai Blue Ocean (as supplier) and the Hospital (as lessee) entered into the Original Finance Lease Arrangement under the Equipment Purchase Agreement and the Finance Lease Agreement (both as supplemented and amended by the 2018 Supplemental Agreement), pursuant to which (i) Guangdong Xx Xx Xxx agreed to purchase the Original Equipment from Zhuhai Blue Ocean at the consideration of RMB6,697,500 (equivalent to approximately HK$7,434,225); and
FINANCE LEASE ARRANGEMENT. Pursuant to the Finance Lease Agreement, South China Leasing agreed to lease back the Machineries and Equipment to Tengzhou Eastern for the Lease Consideration of approximately RMB21,800,000 (equivalent to approximately HK$26,160,000) for a lease term of eighteen (18) months.
FINANCE LEASE ARRANGEMENT. FINANCE LEASE ARRANGEMENT
FINANCE LEASE ARRANGEMENT. The principal terms of the Finance Lease Agreements are set out as follows: March 8, 2019 Purchaser/Lessor: Far Eastern Leasing Seller/Lessee: Yinxing College To the best of the Directors’ knowledge, information and belief, having made all reasonable enquiries, Far Eastern Leasing and its ultimate beneficial owner(s) are third parties independent of the Company and connected persons (as defined under the Listing Rules) of the Company. Subject to the fulfilment of certain conditions as set out in the Finance Lease Agreements (including but not limited to the receipt by Far Eastern Leasing of title proof of the Equipment to its satisfaction, the signing of the relevant guarantee agreements by the Guarantors, and the receipt by Far Eastern Leasing of proof that the necessary approvals, consents and authorisations of the Guarantors for undertaking the guaranteed liabilities have been obtained) (the “Conditions”):
(i) the Equipment will be sold by Yinxing College to Far Eastern Leasing for an aggregate consideration of RMB57,000,000 (the “Purchase Price”); and
(ii) the Equipment will be leased back by Yinxing College from Far Eastern Leasing for a period of 36 months (the “Lease Term”) commencing from the date on which the Purchase Price is paid by Far Eastern Leasing. If any of the Conditions are not satisfied within one (1) month of the date of the Finance Lease Agreements, Far Eastern Leasing shall have the right to unilaterally terminate the Finance Lease Agreements.
FINANCE LEASE ARRANGEMENT. A1 WITH LESSOR A
(A) The Sale and Purchase Agreement
FINANCE LEASE ARRANGEMENT. Subject to the fulfilment of certain conditions as set out in the Finance Lease Agreement (including but not limited to the obtaining of all necessary approvals by the Lessee in relation to the Finance Lease Arrangement and the signing by the Guarantor and the coming into effect of the relevant guarantee agreement), Chengtong Financial Leasing will purchase the Facilities from the Lessee at the Purchase Price of RMB110 million (equivalent to approximately HK$123 million), and the Facilities will be leased back to the Lessee for a period of three (3) years (“Lease Term”) from the date on which the Purchase Price is paid by Chengtong Financial Leasing. If any of the conditions are not satisfied on or before 31 January 2017, Chengtong Financial Leasing shall have right to unilaterally terminate the Finance Lease Agreement. The Lessee is required to pay to Chengtong Financial Leasing a handling fee of RMB2.20 million (equivalent to approximately HK$2.46 million) (“Handling Fee”) under the Finance Lease Agreement within fifteen (15) working days after receiving the Purchase Price in full from Chengtong Financial Leasing.
FINANCE LEASE ARRANGEMENT. On 16 August 2018, Chengtong Financial Leasing, an indirect wholly-owned subsidiary of the Company, entered into the Finance Lease Agreement with the Lessee, pursuant to which Chengtong Financial Leasing will purchase the Facilities from the Lessee and will lease the Facilities back to the Lessee for a term of three (3) years. As the highest percentage ratio (as defined under the Listing Rules) in respect of the Finance Lease Arrangement exceeds 5% but is less than 25%, the Finance Lease Arrangement constitutes a discloseable transaction of the Company and is subject to the notification and announcement requirements under Chapter 14 of the Listing Rules. On 16 August 2018, Chengtong Financial Leasing, an indirect wholly-owned subsidiary of the Company, entered into the Finance Lease Agreement with the Lessee, the major terms of which are set out below. 16 August 2018
