INFORMATION ON THE TARGET AND THE PURCHASER Sample Clauses

INFORMATION ON THE TARGET AND THE PURCHASER. 2.1. Information on the Target As at the date of this announcement, the Target is a wholly-owned subsidiary of the Vendor and the Vendor is, in turn, a wholly-owned subsidiary of the Company. Pursuant to State Lease No. 26375 between the President of the Republic of Singapore and the Target dated 9 May 2007 (as amended and modified by its four supplemental leases) (the “State Lease”) in respect of the premises at 00 Xxx Xxxx Xxxx 2, #01-05, Singapore 718813 (the “Premises”), the Target is the legal owner of a 20 years leasehold “Agri-tainment Farm Resort” operating under the name “Gallop Kranji Farm Resort” (previously known as “D’Kranji Farm Resort”) (the “Farm Resort”) located at the Premises. Pursuant to a lease agreement between the Target and Blue Dolphin Gallery (Singapore) Pte. Ltd. (“Blue Dolphin”) dated 16 May 2018 (the “Lease Agreement”), the Premises are currently leased by Blue Dolphin from the Target for a period of three (3) years, commencing on 1 July 2018 and expiring on 30 June 2021. Blue Dolphin has been the appointed managing agent of the Farm Resort since 1 July 2018. As at the date of this announcement, the Target has collected, in aggregate, S$2,990,000 in rental fees pursuant to the Lease Agreement.
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