PROPOSED DISPOSAL. The Company is not a party to any outstanding agreement to acquire or dispose of land or Properties or any interest in land or Properties.
PROPOSED DISPOSAL. The proposed disposal of 40% equity interest in Kumpulan Voir by Vertice to Distinct Seasons for a total cash consideration of approximately RM9.0 million, subject to the terms and conditions as set out in the Disposal SSA RCPS : 2% cumulative redeemable convertible preference shares in Vertice issued and/or to be issued pursuant to the Issuance of RCPS RM and sen : Ringgit Malaysia and sen respectively Shareholders : Registered holders of Vertice Shares SIS : Employees’ share issuance scheme of the Company which took effect on 18 December 2017 and unless extended, is effective for a period of 5 years SIS Options : SIS options that may be granted to eligible persons during the duration of the SIS, where each holder of the options can subscribe for 1 new Share for every 1 option held in accordance with the terms and provisions of the by-laws Subscription : The subscription of 14,880,000 and 22,320,000 new ordinary shares in Kumpulan Voir by Xxxxxxx and Seow Khim Soon respectively, which was completed on 21 October 2021 Subscription Agreement : Subscription agreement dated 27 September 2021 entered into between Vertice, Seow Khim Soon and Kumpulan Voir for the Subscription Supplemental Principal SSA : Supplemental share sale agreement dated 21 October 2020 entered into between Vertice and Seow Khim Soon for the Initial 60% Disposal Vertice or the Company or the Vendor : Vertice Berhad (200701007217 (765218-V)) Vertice Group or the Group : Collectively, the Company and its subsidiaries Vertice Shares or Shares : Ordinary shares in the Company Warrants A : Existing warrants 2014/2024 of the Company. Each warrant holder is entitled the right to subscribe for 1 Share at an exercise price of RM0.50
PROPOSED DISPOSAL. No member of the Company Group is party to any outstanding agreement to acquire or dispose of land or Properties or any interest in land or Properties.
PROPOSED DISPOSAL. 14.1 The Collection-Owning Body may not dispose of the Collection within twenty-five (25) years of the date of this agreement to anyone other than the Collection- Operating Body, unless this agreement has been terminate under clause 15.
14.2 In the event of the Collection-Owning Body wishing to dispose of the Collection the Collection-Owning Body shall make a financial offer at market value, to the Collection-Operating Body in the first instance, in accordance with the Harrow Museum Collection Policy, by way of gift or sale.
14.3 In the case of the Collection-Operating Body not wishing to acquire the Collection, the Collection can then be offered to another Accredited Museum.
14.4 In the event of the closure of the Museum Service by the Collection-Operating Body, the Collection-Owning Body must be given a minimum of three (3) months written notice from the date of the final Cabinet decision.
14.5 In the event of such a decision (14.3), the Collection-Owning Body must follow the disposal protocol set out in Sections B, D and F of the Harrow Museum Collection Policy.
PROPOSED DISPOSAL. As disclosed in the announcements of the Company dated 3 January 2022, 28 January 2022, 28 February 2022, 31 March 2022, 29 April 2022 and 31 May 2022, Jiangxi Shunfeng, Shanghai Shunneng and the Vendor (as vendors) have entered into four sale and purchase agreements with Xinjiang Silu Qianyuan Energy Co., Ltd.*（新疆絲路乾元能源有限任公司, as the purchaser) pursuant to which the vendors agreed to sell 100% equity interest in Xinjiang Pu Xxx Xxxxx Da, Hainan Xinsheng New Energy Technology Co. Ltd.*（海南州鑫昇新能源科技有限公司）, Tongwei Solar Power Qiemo Co., Ltd*（通威太陽能且末有限公司）and Xinjiang Xxxxxx Xxxx Solar Technology Co., Ltd*（新疆天利恩澤太陽能科技有限公司）. As disclosed in the announcement dated 8 June 2022, as there remained conditions which had not been satisfied, the vendors and the purchaser entered into termination agreements on 8 June 2022 to terminate the sale and purchase agreements in relation to the 2022 First Proposed Disposal. However, although the completion of the 2018 Disposal, the 2019 Disposal, the 2020 Disposal and the Lattice Power Disposal had significantly reduced the Group’s highly indebted position and finance costs, it was insufficient for the Group to meet its immediate financing needs. Therefore, the Group has continued to implement a series of development plans (the “Development Plans”) which comprise, among other things, (i) progressing the collection of the remaining sale proceeds in respect of the 2019 Disposal, the 2020 Disposal, the 2021 First Disposal, the 2021 Second Disposal and the 2021 Third Disposal; (ii) the Disposal; (iii) seeking extension of due dates of the relevant debts and/or alternative refinancing; and (iv) further disposal(s) of the remaining solar power plants in respect of the 2022 First Proposed Disposal which has been terminated. The Company has recorded a negative net cash position of RMB8,563.7 million as at 31 December 2019, RMB6,360.8 million as at 31 December 2020 and RMB3,607.2 million as at 31 December 2021. In particular, the Group’s negative net cash position of RMB3,607.2 million as at 31 December 2021 included cash and cash equivalents of RMB55.7 million, bank and other borrowings of RMB1,914.9 million, convertible bonds of RMB563.3 million, bonds payable of RMB585.4 million and loan from a related company of RMB599.3 million. As at the date of this announcement, the Company has the following major debts due on or before 31 May 2022: No. Creditor Principal amount in thousands of Due date HK$ RMB 1. the Purchaser 661,000 — 31 December...
PROPOSED DISPOSAL. NewCo proposes to dispose the entire issued and paid-up share capital of Antah comprising 169,815,233 Antah Shares (after the Proposed Scheme of Arrangement with Shareholders) to the Antah Group Purchaser for a nominal cash consideration of RM1.00 ("Proposed Disposal"). On 8 May 2006, NewCo and the Antah Group Purchaser had entered into the Disposal SPA for the Proposed Disposal. The Proposed Disposal is to facilitate the realisation of Xxxxx's surplus assets as envisaged under the Proposed Scheme of Arrangement with Creditors. The proceeds from these assets net of operational and administrative expenses of Antah and all other incidental charges as may be incurred pursuant to the day to day running of the business operations of Antah and the implementation of the Proposed Restructuring Scheme shall be set aside for distribution to the Scheme Creditors. NewCo will not assume any liabilities arising from the Proposed Disposal.
PROPOSED DISPOSAL. No Group Company is a party to any outstanding agreement to acquire or dispose of land or Properties or any interest in land or Properties.
PROPOSED DISPOSAL. Pursuant to the terms and subject to the conditions of the SPA, LCCE shall sell as beneficial owner and the Purchaser shall purchase the entire issued and paid-up capital of LCDPL comprising 8,732,306 issued and paid-up ordinary shares (the “Sale Shares”) free from all Encumbrances (as defined in the SPA) and together with all rights attaching thereto or accruing thereto, as at the Completion Date (as defined below) and thereafter.
PROPOSED DISPOSAL. Pursuant to the terms and subject to the conditions of the SPA, SY Concrete and Assetgold shall sell and Shanghai Jiangong and Shanghai Construction shall purchase 75% and 25% equity interest respectively in the registered capital of SIP Yongsheng (collectively, the “Disposal Shares”).
PROPOSED DISPOSAL. The Purchase Consideration is based on the net book value of the leasehold property together with machinery and equipment held by ASE which was valued at S$7,942,532 as at 30 June 2018. The Purchase Consideration which was arrived at on a willing buyer willing seller basis will be satisfied by the Purchaser by way of cash. The Purchase Consideration shall be paid to ASE in the following manner: -
(i) Deposit of S$1,400,000 was paid upon signing the non-binding term sheet on 14 August 2018; and
(ii) Final payment of S$12,600,000 on completion of the SPA. The Proposed Disposal is expected to be completed on the 10th business day after fulfilment or waiver of all the conditions precedent stated in the SPA (“Completion Date”).
