Xayaburi Power Company Limited Sample Clauses

Xayaburi Power Company Limited. (“XPCL”) The Company invested in XPCL, a company which was awarded the concession from the Government of the Lao People’s Democratic Republic for design, development, construction and operation of the Xayaburi Hydroelectric Power Project, with a 29-year concession period from the Commercial Operation Date. The expected benefits to be derived by the Company shall be in the form of dividend from investment. The Company, as a shareholder, assigned its representative to be a member of the board of directors of XPCL. As at December 31, 2017, the Company held shares in XPCL representing 7.50 percent of its registered capital. All ordinary shares in XPCL held by the Company have been pledged as security of long-term loan of XPCL.
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