THE SALE AND PURCHASE AGREEMENT. The principal terms of the Sale and Purchase Agreement are set out below:
THE SALE AND PURCHASE AGREEMENT. Date Parties
THE SALE AND PURCHASE AGREEMENT. The principal terms of the Sale and Purchase Agreement are set out as follows: 11 June 2019 (after trading hours)
THE SALE AND PURCHASE AGREEMENT. The Board of Directors announced that after the trading hours of 13 April 2011, the Company entered into the Sale and Purchase Agreement with the Purchaser pursuant to which the Company agreed to sell and the Purchaser agreed to purchase the entire issued share capital together with the Sale Loan of Xxxx Industries at a consideration of HK$1,500,000.
THE SALE AND PURCHASE AGREEMENT. On 11 October 2013, Leader Construction (a wholly-owned subsidiary of the Company) entered into the Sale and Purchase Agreement for the purchase of the Sale Shares by Leader Construction from Talent Ground. Completion took place immediately after the signing of the Sale and Purchase Agreement, whereupon Champ Foundation became a wholly-owned subsidiary of the Company. The principal terms of the Sale and Purchase Agreement are set out below: Date: 11 October 2013 Purchaser: Leader Construction Vendor: Talent Ground Assets being sold: Sale Shares representing 49% of the total issued share capital of Champ Foundation Consideration: HK$11,760,000, payable in cash on Completion The terms of the Sale and Purchase Agreement were arrived at after arm’s length negotiations between the parties. The Board believes that the terms of the Sale and Purchase Agreement are fair and reasonable and in the interests of the Company and the Shareholders as a whole. The consideration was determined by reference to the net asset value of Champ Foundation and potential synergetic effect on existing construction business. No independent valuation has been performed on Champ Foundation. The unaudited net asset value of Champ Foundation as at 31 August 2013 was HK$23,700,000. The audited net profits (losses) before and after taxation and extraordinary items attributable to owners of Champ Foundation for the financial years ended 31 December 2011 and 31 December 2012 were as follows: Net profits (losses) before taxation and extraordinary items attributable to owners of Champ Foundation 4,040,000 (293,000) Net profits (losses) after taxation and extraordinary items attributable to owners of Champ Foundation 3,370,000 (244,000)
THE SALE AND PURCHASE AGREEMENT. On 26 March 2004, the Company received notification from the Offeror that it had entered into an unconditional sale and purchase agreement with Kuwait Investment Office in relation to the purchase of 71,172,395 Ordinary Shares, representing approximately 21.63% of the issued share capital of the Company at a price of HK$58 per Ordinary Share. Completion of the Sale and Purchase Agreement is expected to take place on 6 April 2004.
THE SALE AND PURCHASE AGREEMENT. On 26 March 2004, the Company received notification from the Offeror that it had entered into an unconditional sale and purchase agreement with Kuwait Investment Office in relation to the purchase of 71,172,395 Ordinary Shares, representing approximately 21.63% of the issued share capital of the Company at a price of HK$58 per Ordinary Share. Completion of the Sale and Purchase Agreement is expected to take place on 6 April 2004. Further details relating to the Sale and Purchase Agreement are set out in the Offer Announcement. Upon completion of the Sale and Purchase Agreement, the Offeror Parties will own an aggregate of 215,581,614 Ordinary Shares representing approximately 65.52% of the entire issued share capital of the Company. Under Rule 26.1 of the Code, the Offeror would be required to make a mandatory unconditional cash offer for all the Ordinary Shares not already owned or agreed to be acquired by the Offeror Parties. As stated in the Offer Announcement, subject to completion of the Sale and Purchase Agreement having taken place, Standard Chartered Bank, for and on behalf of the Offeror, will make a mandatory unconditional cash offer for all the Ordinary Shares not already owned or agreed to be acquired by the Offeror on the following basis: Further details relating to the Offer are set out in the Offer Announcement.
THE SALE AND PURCHASE AGREEMENT. On 1 November 2022 (after trading hours), CSCII (a direct wholly-owned subsidiary of CSC) (as vendor) and GWAP (an indirect wholly-owned subsidiary of COGO) (as purchaser) entered into the Sale and Purchase Agreement for the sale and purchase of the Sale Interest following a public tender process in the CBEX. The principal terms of the Sale and Purchase Agreement are summarised as follows:
THE SALE AND PURCHASE AGREEMENT. The Vendor: Emperor Property The Purchaser: New Global Pursuant to the Sale and Purchase Agreement, the Vendor has conditionally agreed to sell and the Purchaser has conditionally agreed to purchase (a) the Sale Share; and (b) the Sale Loan. The consideration for the Disposal payable by the Purchaser to the Vendor is approximately HK$1,137.3 million (subject to adjustments) and shall be settled by the Purchaser by cash transfer to the designated bank account of the Vendor or such other method as mutually agreed by the Vendor and Purchaser upon Completion. The consideration was arrived at arm’s length negotiations between the Vendor and the Purchaser on normal commercial terms with reference to the Management Accounts mainly: (i) the fair market valuation of the Property of HK$1,160.0 million as at 23 December 2022 as indicated by an independent professional valuer; (ii) the loan due from the Target Company to the Vendor of approximately HK$77.9 million as at 30 November 2022; and (iii) the unaudited combined net asset value of the Target Group of approximately HK$1,059.4 million as at 30 November 2022 after adjustment on the book value of the Property to HK$1,160.0 million. The consideration is subject to the following adjustments by reference to the Completion Accounts:
THE SALE AND PURCHASE AGREEMENT. On 26 March 2004, the Offeror entered into a sale and purchase agreement with Kuwait Investment Office for the acquisition of the Sale Shares details of which are as follows: Offeror Parties hold, and will hold, the following Company Securities as at the date of this announcement and immediately following Completion. Buyer: Guoline Overseas Limited. Equity derivatives 1,433,848 (0.44%) 1,433,848 (0.44%) The Sale Shares will be acquired free from all liens, charges, encumbrances, equities and MPI (BVI) Limited (Note 1) Ordinary Shares 327,575 (0.10%) 327,575 (0.10%) adverse interests and with all rights attached or accruing thereto at date of Completion Inala Group Limited (Note 2) Ordinary Shares 2,261,862 (0.69%) 2,261,862 (0.69%) excluding the right to receive the Interim Dividend. Quek Xxxx Xxxx (Note 3) Ordinary Shares 1,656,325 (0.50%) 1,656,325 (0.50%) Offeror Ordinary Shares 137,046,740 (41.65%) 208,219,135 (63.28%) Kwek Lay Kuan (Note 4) Ordinary Shares 70,000 (0.02%) 70,000 (0.02%) Completion: It is expected that completion of the Sale and Purchase Agreement will take place on 6 April Quek Leng Chye (Note 5) Ordinary Shares 16,822 (0.01%) 16,822 (0.01%) 2004. There are no conditions to completion of the Sale and Purchase Agreement. Hong Xxxxx (Netherlands Antilles) N.V. (Note 6) Equity derivatives 7,320,359 (2.22%) 7,320,359 (2.22%) Xxxx Xxxx Hai (Note 3) Ordinary Shares 2,820,775 (0.86%) 2,820,775(0.86%) Xxxx Xxxx San (Note 3) Ordinary Shares 209,120 (0.06%) 209,120 (0.06%) The purchase price of HK$58 per Ordinary Share represents a discount of approximately 5.7% to the closing price of HK$61.50 per Ordinary Share as quoted on the Stock Exchange on 25 March 2004, being the last trading day prior to the date of this announcement. The consideration amounts to HK$4,127,998,910 and will be paid in cash by the Offeror on Completion. In addition to the HK$58 per Sale Share the Offeror has agreed to pay the following amounts to Kuwait Investment Office in respect of the Sale Shares:
