{"component": "clause", "props": {"groups": [{"samples": [{"hash": "jL5j7U56ebS", "uri": "/contracts/jL5j7U56ebS#the-disposal", "label": "Disposal Agreement", "score": 22.9590943541, "published": true}], "snippet_links": [{"key": "december-2012", "type": "clause", "offset": [6, 19]}, {"key": "trading-hours", "type": "clause", "offset": [27, 40]}, {"key": "the-vendor", "type": "clause", "offset": [43, 53]}, {"key": "subsidiary-of-the-company", "type": "clause", "offset": [70, 95]}, {"key": "and-the-company", "type": "clause", "offset": [125, 140]}, {"key": "the-guarantor", "type": "clause", "offset": [144, 157]}, {"key": "entered-into", "type": "clause", "offset": [159, 171]}, {"key": "the-disposal-agreement", "type": "clause", "offset": [172, 194]}, {"key": "pursuant-to", "type": "definition", "offset": [195, 206]}, {"key": "to-sell", "type": "clause", "offset": [249, 256]}, {"key": "and-the-purchaser", "type": "clause", "offset": [258, 275]}, {"key": "to-acquire", "type": "definition", "offset": [301, 311]}, {"key": "sale-share", "type": "definition", "offset": [317, 327]}, {"key": "the-consideration", "type": "clause", "offset": [331, 348]}, {"key": "terms-of-the", "type": "clause", "offset": [417, 429]}, {"key": "set-out", "type": "definition", "offset": [453, 460]}], "snippet": "On 17 December 2012 (after trading hours), the Vendor (a wholly-owned subsidiary of the Company), the Purchaser as purchaser and the Company as the guarantor, entered into the Disposal Agreement pursuant to which the Vendor has conditionally agreed to sell, and the Purchaser has conditionally agreed to acquire, the Sale Share at the consideration of US$700,000 (equivalent to approximately HK$5,425,000). The major terms of the Disposal Agreement are set out below:", "size": 2, "hash": "3d53e482af71ccbae61f60e4ddc3dd9e", "id": 3}, {"samples": [{"hash": "heq1Auc29u9", "uri": "/contracts/heq1Auc29u9#the-disposal", "label": "Disposal Agreement", "score": 29.6464833524, "published": true}, {"hash": "9vfUIYUY81W", "uri": "/contracts/9vfUIYUY81W#the-disposal", "label": "Disposal Agreement", "score": 28.7760004619, "published": true}], "snippet_links": [{"key": "agreement-consideration", "type": "clause", "offset": [4, 27]}], "snippet": "The Agreement Consideration", "size": 2, "hash": "9d33967ba5bbb2d9d86b6920d2b7ade9", "id": 1}, {"samples": [{"hash": "kIdz2nAV7pc", "uri": "/contracts/kIdz2nAV7pc#the-disposal", "label": "Disposal Agreement", "score": 23.7666177903, "published": true}], "snippet_links": [{"key": "march-2020", "type": "clause", "offset": [6, 16]}, {"key": "and-the-purchaser", "type": "clause", "offset": [29, 46]}, {"key": "entered-into", "type": "clause", "offset": [47, 59]}, {"key": "in-relation-to", "type": "clause", "offset": [74, 88]}, {"key": "principal-terms-of-the-agreement", "type": "clause", "offset": [107, 139]}, {"key": "set-out", "type": "definition", "offset": [144, 151]}, {"key": "the-purchaser-shall", "type": "clause", "offset": [159, 178]}, {"key": "the-sale-shares", "type": "clause", "offset": [188, 203]}, {"key": "equity-interest", "type": "clause", "offset": [258, 273]}, {"key": "the-target", "type": "clause", "offset": [277, 287]}, {"key": "date-of-the-agreement", "type": "clause", "offset": [298, 319]}], "snippet": "On 23 March 2020, the Vendor and the Purchaser entered into the Agreement in relation to the Disposal. The principal terms of the Agreement are set out below. The Purchaser shall purchase the Sale Shares from the Vendor. The Sale Shares represent the entire equity interest of the Target as at the date of the Agreement.", "size": 2, "hash": "07b30a91f59dd8c6175bdf7a6c90df7c", "id": 2}, {"samples": [{"hash": "8scK817Hcxi", "uri": "/contracts/8scK817Hcxi#the-disposal", "label": "Preliminary Sales and Purchase Agreement", "score": 24.6570841889, "published": true}], "snippet_links": [{"key": "the-preliminary", "type": "clause", "offset": [23, 38]}, {"key": "sales-and-purchase-agreement", "type": "definition", "offset": [39, 67]}, {"key": "february-2019", "type": "clause", "offset": [155, 168]}, {"key": "date-of-the-agreement", "type": "clause", "offset": [169, 190]}, {"key": "march-2019", "type": "clause", "offset": [195, 205]}, {"key": "company-purchasers", "type": "definition", "offset": [253, 271]}, {"key": "the-directors", "type": "clause", "offset": [316, 329]}, {"key": "property-agent", "type": "definition", "offset": [456, 470]}, {"key": "and-the-purchasers", "type": "clause", "offset": [472, 490]}, {"key": "parties-independent", "type": "clause", "offset": [530, 549]}, {"key": "connected-persons", "type": "clause", "offset": [596, 613]}, {"key": "the-gem-listing-rules", "type": "clause", "offset": [629, 650]}], "snippet": "The principal terms of the Preliminary Sales and Purchase Agreement and the Agreement are as follows: Date of Preliminary Sales and Purchase Agreement: 25 February 2019 Date of the Agreement: 11 March 2019 Vendor: Host Luck Limited, a subsidiary of the Company Purchasers: \u2587\u2587\u2587 \u2587\u2587 \u2587\u2587\u2587 and \u2587\u2587\u2587 \u2587\u2587\u2587\u2587 Sun To the best of the Directors\u2019 knowledge, information and belief after having made all reasonable enquiries, the Purchasers were introduced through a local property agent, and the Purchasers and the local property agent are third parties independent of and not connected with the Company and its connected persons (as defined in the GEM Listing Rules).", "size": 1, "hash": "a016c9379e75aa1fc9bfd732c4d24370", "id": 4}, {"samples": [{"hash": "3F0UX5NKFYh", "uri": "/contracts/3F0UX5NKFYh#the-disposal", "label": "Intellectual Property Disposal Agreement (Ascent Solar Technologies, Inc.)", "score": 26.1622176591, "published": true}], "snippet_links": [{"key": "effective-as-of-the", "type": "clause", "offset": [4, 23]}, {"key": "and-transfers", "type": "clause", "offset": [65, 78]}, {"key": "applicable-affiliates", "type": "definition", "offset": [144, 165]}, {"key": "legal-right", "type": "clause", "offset": [168, 179]}, {"key": "title-and-interest", "type": "clause", "offset": [181, 199]}, {"key": "economic-benefits", "type": "clause", "offset": [204, 221]}, {"key": "the-intellectual-property", "type": "clause", "offset": [236, 261]}, {"key": "schedule-a", "type": "clause", "offset": [277, 287]}, {"key": "the-price", "type": "clause", "offset": [297, 306]}, {"key": "section-21", "type": "clause", "offset": [338, 349]}, {"key": "direct-tax", "type": "definition", "offset": [447, 457]}, {"key": "sales-tax", "type": "definition", "offset": [466, 475]}, {"key": "value-added-tax", "type": "clause", "offset": [477, 492]}, {"key": "transfer-tax", "type": "definition", "offset": [502, 514]}, {"key": "necessary-for", "type": "definition", "offset": [515, 528]}, {"key": "no-representation-or-warranty", "type": "clause", "offset": [615, 644]}, {"key": "this-agreement", "type": "clause", "offset": [667, 681]}, {"key": "with-respect-to", "type": "clause", "offset": [710, 725]}, {"key": "sale-and-transfer", "type": "clause", "offset": [772, 789]}], "snippet": "2.1 Effective as of the Disposal Time, Ascent Solar hereby sells and transfers and Sun Pleasure hereby purchases all of Ascent Solar\u2019s (and its applicable affiliates\u2019) legal right, title and interest and economic benefits associated to the Intellectual Property as outlined in Schedule A (1).\n2.2 The price of disposal by Ascent Solar in Section 2.1 shall be as outlined in Schedule A (2) (the \u201cConsideration\u201d).\n2.3 Sun Pleasure shall not pay any direct tax such as sales tax, value added tax or other transfer tax necessary for disposal in Section 2.1.\n2.4 SUN PLEASURE HEREBY ACKNOWLEDGES THAT ASCENT SOLAR MAKES NO REPRESENTATION OR WARRANTY TO SUN PLEASURE UNDER THIS AGREEMENT, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE INTELLECTUAL PROPERTY, AND THAT THE ABOVE SALE AND TRANSFER IS MADE TO SUN PLEASURE ON AN \u201cAS IS\u201d BASIS.", "size": 1, "hash": "754a314684eded9386761e002fabd2c5", "id": 5}, {"samples": [{"hash": "bphrYNN0KmB", "uri": "/contracts/bphrYNN0KmB#the-disposal", "label": "Disposal Agreement", "score": 21.6396831805, "published": true}], "snippet_links": [{"key": "hours-of", "type": "clause", "offset": [34, 42]}, {"key": "the-stock-exchange", "type": "definition", "offset": [43, 61]}, {"key": "and-the-purchaser", "type": "clause", "offset": [76, 93]}, {"key": "entered-into", "type": "clause", "offset": [94, 106]}, {"key": "the-disposal-agreement", "type": "clause", "offset": [107, 129]}, {"key": "pursuant-to", "type": "definition", "offset": [131, 142]}, {"key": "to-sell", "type": "clause", "offset": [182, 189]}, {"key": "sale-share", "type": "definition", "offset": [247, 257]}, {"key": "the-consideration", "type": "clause", "offset": [261, 278]}, {"key": "or-equivalent", "type": "definition", "offset": [290, 303]}, {"key": "net-asset-value", "type": "clause", "offset": [321, 336]}, {"key": "june-2017", "type": "clause", "offset": [368, 377]}, {"key": "as-shown", "type": "definition", "offset": [378, 386]}, {"key": "appendix-ii", "type": "clause", "offset": [390, 401]}, {"key": "the-circular", "type": "clause", "offset": [405, 417]}, {"key": "substantial-disposal", "type": "definition", "offset": [472, 492]}, {"key": "term-defined", "type": "clause", "offset": [502, 514]}, {"key": "for-the-company", "type": "clause", "offset": [558, 573]}, {"key": "information-on", "type": "clause", "offset": [583, 597]}, {"key": "implications-under-the-gem-listing-rules", "type": "clause", "offset": [697, 737]}], "snippet": "On 24 October 2017 (after trading hours of the Stock Exchange), the Company and the Purchaser entered into the Disposal Agreement, pursuant to which the Company conditionally agreed to sell, and the Purchaser conditionally agreed to purchase, the Sale Share at the Consideration of HK$1.00 or equivalent to the unaudited net asset value of the Disposed Group as at 30 June 2017 as shown in Appendix II to the Circular, whichever is higher. The Disposal constitutes a very substantial disposal (as such term defined under Chapter 19 of the GEM Listing Rules) for the Company. Further information on the implications of the Disposal under the GEM Listing Rules is set forth in the paragraphs under \u201cImplications under the GEM Listing Rules\u201d below.", "size": 1, "hash": "ed7037221e434bb65cf85a4b6b470399", "id": 6}, {"samples": [{"hash": "9tXw56d78ri", "uri": "/contracts/9tXw56d78ri#the-disposal", "label": "Disposal Agreement", "score": 31.3025907384, "published": true}], "snippet_links": [{"key": "the-board", "type": "clause", "offset": [0, 9]}, {"key": "hours-of", "type": "clause", "offset": [64, 72]}, {"key": "the-stock-exchange", "type": "definition", "offset": [73, 91]}, {"key": "the-vendor", "type": "clause", "offset": [94, 104]}, {"key": "subsidiary-of-the-company", "type": "clause", "offset": [141, 166]}, {"key": "entered-into", "type": "clause", "offset": [168, 180]}, {"key": "pursuant-to", "type": "definition", "offset": [196, 207]}, {"key": "to-sell", "type": "clause", "offset": [232, 239]}, {"key": "and-the-purchaser", "type": "clause", "offset": [240, 257]}, {"key": "to-acquire", "type": "definition", "offset": [265, 275]}, {"key": "the-vessel", "type": "definition", "offset": [277, 287]}, {"key": "principal-terms-of-the-agreement", "type": "clause", "offset": [371, 403]}, {"key": "set-out", "type": "definition", "offset": [408, 415]}], "snippet": "The Board hereby announces that on 22 April 2021 (after trading hours of the Stock Exchange), the Vendor, being an indirect non-wholly owned subsidiary of the Company, entered into the Agreement, pursuant to which the Vendor agreed to sell and the Purchaser agreed to acquire, the Vessel at a consideration of US$3,591,880.60 (equivalent to approximately HK$27,909,000). Principal terms of the Agreement are set out below:", "size": 1, "hash": "266629d9570c81ce578a42ad360e1a94", "id": 7}, {"samples": [{"hash": "feeMVahizWn", "uri": "/contracts/feeMVahizWn#the-disposal", "label": "Disposal Agreement", "score": 26.4136522403, "published": true}], "snippet_links": [{"key": "the-seller-and-the-purchaser", "type": "clause", "offset": [16, 44]}, {"key": "entered-into", "type": "clause", "offset": [45, 57]}, {"key": "in-relation-to", "type": "clause", "offset": [72, 86]}, {"key": "principal-terms-of-the-agreement", "type": "clause", "offset": [105, 137]}, {"key": "set-out", "type": "definition", "offset": [142, 149]}], "snippet": "On 13 May 2024, the Seller and the Purchaser entered into the Agreement in relation to the Disposal. The principal terms of the Agreement are set out below: 13 May 2024", "size": 1, "hash": "bb1c4fed0d4c71498cc73942a813fc79", "id": 8}, {"samples": [{"hash": "a85ZVicY640", "uri": "/contracts/a85ZVicY640#the-disposal", "label": "Sale and Purchase Agreement", "score": 32.3099420079, "published": true}], "snippet_links": [{"key": "april-2022", "type": "clause", "offset": [6, 16]}, {"key": "trading-hours", "type": "clause", "offset": [24, 37]}, {"key": "the-vendor", "type": "clause", "offset": [40, 50]}, {"key": "entered-into", "type": "clause", "offset": [51, 63]}, {"key": "the-sale-and-purchase-agreement", "type": "clause", "offset": [64, 95]}, {"key": "to-sell", "type": "clause", "offset": [151, 158]}, {"key": "and-the-purchaser", "type": "clause", "offset": [159, 176]}, {"key": "to-acquire", "type": "definition", "offset": [184, 194]}, {"key": "the-sale-shares", "type": "clause", "offset": [195, 210]}, {"key": "total-cash-consideration", "type": "definition", "offset": [217, 241]}, {"key": "the-purchaser-is-a", "type": "definition", "offset": [337, 355]}, {"key": "british-virgin-islands", "type": "definition", "offset": [384, 406]}, {"key": "limited-liability", "type": "clause", "offset": [412, 429]}, {"key": "engaged-in", "type": "definition", "offset": [449, 459]}, {"key": "investment-holdings", "type": "definition", "offset": [460, 479]}, {"key": "date-of", "type": "clause", "offset": [491, 498]}, {"key": "the-holder", "type": "clause", "offset": [549, 559]}, {"key": "convertible-bonds", "type": "definition", "offset": [567, 584]}, {"key": "the-promissory-note", "type": "clause", "offset": [589, 608]}, {"key": "the-directors", "type": "clause", "offset": [625, 638]}, {"key": "ultimate-beneficial-owner", "type": "definition", "offset": [716, 741]}, {"key": "of-the-purchaser", "type": "clause", "offset": [742, 758]}, {"key": "independent-third-parties", "type": "definition", "offset": [836, 861]}, {"key": "subsidiary-of-the-company", "type": "clause", "offset": [892, 917]}, {"key": "twelve-months", "type": "definition", "offset": [1138, 1151]}, {"key": "no-material", "type": "clause", "offset": [1229, 1240]}, {"key": "loan-arrangement", "type": "definition", "offset": [1241, 1257]}, {"key": "directors-and", "type": "clause", "offset": [1296, 1309]}, {"key": "legal-representatives", "type": "clause", "offset": [1310, 1331]}, {"key": "the-transaction", "type": "clause", "offset": [1416, 1431]}, {"key": "connected-person", "type": "definition", "offset": [1458, 1474]}, {"key": "pursuant-to-the", "type": "clause", "offset": [1585, 1600]}, {"key": "issued-share-capital", "type": "clause", "offset": [1782, 1802]}, {"key": "the-target-company", "type": "clause", "offset": [1806, 1824]}], "snippet": "On 25 April 2022 (after trading hours), the Vendor entered into the Sale and Purchase Agreement with the Purchaser pursuant to which the Vendor agreed to sell and the Purchaser agreed to acquire the Sale Shares for a total cash consideration of HK$840,000,000. Date: 25 April 2022 (after trading hours) Parties: (1) Vendor (2) Purchaser The Purchaser is a company incorporated in the British Virgin Islands with limited liability and is principally engaged in investment holdings. As at the date of the Sale and Purchase Agreement, the Purchaser is the holder of the Convertible Bonds and the Promissory Note. To the best of the Directors\u2019 knowledge, information and belief having made all reasonable enquiries, the ultimate beneficial owner of the Purchaser is Mr. \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 and the Purchaser and its ultimate beneficial owner are Independent Third Parties. The Vendor is a wholly owned subsidiary of the Company incorporated in the British Virgin Islands and is principally engaged in investment holdings. To the best of the Directors\u2019 knowledge, information and belief having made all reasonable enquiry, there is, and in the past twelve months, (except for the Convertible Bonds and the Promissory Note), there has been, no material loan arrangement between (a) the Purchaser, any of its directors and legal representatives and/or any ultimate beneficial owner(s) of the Purchaser who can exert influence on the transaction; and (b) the Company, any connected person at the Company\u2019s level and/or any connected person of the Company\u2019s subsidiaries involved in the transaction. Pursuant to the Sale and Purchase Agreement, the Purchaser has conditionally agreed to acquire and the Vendor has conditionally agreed to sell the Sale Shares. The Sale Shares represent the entire issued share capital of the Target Company.", "size": 1, "hash": "f6372d96da1deaa1ca31737273423cbc", "id": 9}, {"samples": [{"hash": "5AYlBgzB8Hl", "uri": "/contracts/5AYlBgzB8Hl#the-disposal", "label": "Disposal Agreement", "score": 20.3011104338, "published": true}], "snippet_links": [{"key": "november-2014", "type": "clause", "offset": [6, 19]}, {"key": "hours-of", "type": "clause", "offset": [35, 43]}, {"key": "the-stock-exchange", "type": "definition", "offset": [44, 62]}, {"key": "the-vendor", "type": "clause", "offset": [80, 90]}, {"key": "and-the-purchaser", "type": "clause", "offset": [92, 109]}, {"key": "entered-into", "type": "clause", "offset": [110, 122]}, {"key": "the-agreement", "type": "clause", "offset": [123, 136]}, {"key": "the-company-has", "type": "definition", "offset": [156, 171]}, {"key": "to-sell", "type": "clause", "offset": [193, 200]}, {"key": "the-sale-shares", "type": "clause", "offset": [256, 271]}, {"key": "and-the-shareholder", "type": "clause", "offset": [272, 291]}, {"key": "the-consideration", "type": "clause", "offset": [302, 319]}, {"key": "upon-completion", "type": "clause", "offset": [384, 399]}, {"key": "the-company-will", "type": "clause", "offset": [401, 417]}, {"key": "disposal-group", "type": "definition", "offset": [452, 466]}, {"key": "the-companies", "type": "definition", "offset": [471, 484]}, {"key": "subsidiaries-of-the-company", "type": "clause", "offset": [528, 555]}, {"key": "percentage-ratios", "type": "clause", "offset": [582, 599]}, {"key": "of-the-listing-rules", "type": "clause", "offset": [626, 646]}, {"key": "in-respect-of", "type": "clause", "offset": [648, 661]}, {"key": "major-transaction", "type": "clause", "offset": [732, 749]}, {"key": "the-announcement", "type": "clause", "offset": [793, 809]}, {"key": "approval-requirements", "type": "clause", "offset": [838, 859]}, {"key": "pursuant-to-chapter", "type": "clause", "offset": [860, 879]}], "snippet": "On 10 November 2014 (after trading hours of the Stock Exchange), the Company as the vendor, and the Purchaser entered into the Agreement, pursuant to which the Company has conditionally agreed to sell and the Purchaser has conditionally agreed to purchase the Sale Shares and the Shareholder\u2019s Loan at the Consideration of RMB200,000,000 (equivalent to approximately HK$254,000,000). Upon Completion, the Company will cease to have any interest in the Disposal Group and the companies within the Disposal Group will cease to be subsidiaries of the Company. As two of the applicable percentage ratios (as defined in Rule 14.07 of the Listing Rules) in respect of the Disposal exceed 25% but less than 75%, the Disposal constitutes a major transaction of the Company and is therefore subject to the announcement, circular and shareholders\u2019 approval requirements pursuant to Chapter 14 of the Listing Rules.", "size": 1, "hash": "d5c69a5d1bf8194a70dc69da970cca68", "id": 10}], "next_curs": "ClUST2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjELEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhV0aGUtZGlzcG9zYWwjMDAwMDAwMGEMogECZW4YACAA", "clause": {"parents": [["sun-pleasure-co", "SUN PLEASURE CO"], ["information-on-nitgen", "INFORMATION ON NITGEN"], ["disposal-of-properties", "DISPOSAL OF PROPERTIES"]], "title": "THE DISPOSAL", "size": 35, "children": [["conditions-precedent", "Conditions precedent"], ["consideration-and-payment", "Consideration and payment"], ["subject-matter", "Subject matter"], ["advanced-monies-and-am-conversion-shares", "Advanced Monies and AM Conversion Shares"], ["completion", "Completion"]], "id": "the-disposal", "related": [["garbage-disposal", "Garbage Disposal", "Garbage Disposal"], ["slash-disposal", "Slash Disposal", "Slash Disposal"], ["trash-disposal", "Trash Disposal", "Trash Disposal"], ["disposal", "Disposal", "Disposal"], ["waste-disposal", "Waste Disposal", "Waste Disposal"]], "related_snippets": [], "updated": "2025-07-07T12:37:53+00:00"}, "json": true, "cursor": ""}}