REASONS FOR AND BENEFITS OF ENTERING INTO THE NEW FINANCIAL ASSISTANCE AGREEMENT Sample Clauses

REASONS FOR AND BENEFITS OF ENTERING INTO THE NEW FINANCIAL ASSISTANCE AGREEMENT. JCC Group will transfer net deposit (i.e. excess of the total daily deposit balance of JCC Group over the total daily loan balance to JCC Group) to JCC Financial, which forms actual financial assistance to JCC Financial, supplements the available financial resources of JCC Financial, enhances the profitability of JCC Financial and hence enhances the profitability of the Company. The risk control measures adopted by JCC Financial and the Company are sufficient such that their assets would not suffer any loss from the transactions contemplated under the New Financial Assistance Agreement. The Directors (including the independent non-executive Directors but excluding the Connected Directors) consider that the terms of the New Financial Assistance Agreement are fair and reasonable, and in the interest of the Company and the Shareholders as a whole. The Directors (excluding the Connected Directors) are further of the view that the transactions contemplated under the New Financial Assistance Agreement are beneficial to the reasonable allocation and full utilisation of the assets of the Group and JCC Group, which provides for the sharing of resources and supplement of advantages between each other and are beneficial in improving the Company’s overall efficacy. The independent non-executive Directors are of the view that the transactions contemplated under the New Financial Assistance Agreement are on normal commercial terms and in the ordinary and usual course of business of the Group. As the pricing and terms thereunder are fair and reasonable and the procedure is legal, the interests of the minority Shareholders are not prejudiced, and the transactions contemplated thereunder are fair and reasonable to the Company and all the Shareholders and in the interest of the Company and the Shareholders as a whole. Save for Xx. Xxxx Xxxxxx, Xx. Xxxxx Xxxxxxx, Mr. Xxxx Xx, Xx. Xxxx Xxxxxx and Xx. Xx Xxxx who are the Connected Directors and have abstained from voting on the Board resolutions on 30 December 2019 relating to the New Financial Assistance Agreement, none of the Directors has a material interest in the New Financial Assistance Agreement or is required to abstain from voting on the Board resolutions in relation to the New Financial Assistance Agreement.
Sample 1
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Related to REASONS FOR AND BENEFITS OF ENTERING INTO THE NEW FINANCIAL ASSISTANCE AGREEMENT

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