Examples of Bridging Period in a sentence
All Shares purchased or borrowed under both agreements will be repurchased by or returned to Triumph Power not later than 15 Business Days after the expiry of the Bridging Period, thereby ensuring that the end-result of the shareholding of Triumph Power in our Company remains the same before and after the arrangements contemplated under the Stock Borrowing and Lending Agreements and the Sale and Repurchase Agreement.
All Shares purchased or borrowed under both agreements will be repurchased by or returned to Mr. Zhang Wei not later than 25 Business Days after the expiry of the Bridging Period, thereby ensuring that the end-result of the shareholding of Mr. Zhang Wei in our Company remains the same before and after the arrangements contemplated under the Stock Borrowing and Lending Agreements and the Sale and Repurchase Agreement.
Although the Stock Borrowing and Lending Agreements contemplated in the Listing do not fall within the ambit of Rule 10.07(3), there is no breach of Rule 10.07 of the Hong Kong Listing Rules as the purposes of the Stock Borrowing and Lending Agreements contemplated are to allow the Designated Dealer or the Alternate Designated Dealer (as appropriate) to use the borrowed Shares purely for settlement in connection with the arbitrage trades carried out by them in Hong Kong during the Bridging Period.
As explained in section 2 of the report, there are two distinct periods in the Availability Term: 1) the Bridging Period; and 2) the Services Period.
Conditional upon the CS Affiliate acquiring our Shares under the Sale and Repurchase Agreement, the CS Affiliate shall sell, and the Vendor shall repurchase, the equivalent number of Shares the Vendor sold under the Sale and Repurchase Agreement, at the same price as such Shares were sold, shortly after the expiry of the Bridging Period.
This repayment period is called the Availability Term (the Availability Term).There are two periods in the Availability Term: The Bridging Period and the Services Period.
Amounts include Bridging Period and Services Period Availability Payments.
The bridging arrangements and the role of the Bridging Dealer will terminate and cease at the expiry of the Bridging Period.
The Bridging Period started at the beginning of the Availability Term, with the first GU/LL Asset coming in service as noted above and ended at Service Commencement (Service Commencement) in June 2019.
Given the size of our Controlling Shareholders’ shareholding in our Company compared to other Shareholders in Singapore, and the alignment of our Controlling Shareholders’ interest with that of our Company’s in the successful outcome of the Listing, both the Stock Borrowing and Lending Agreements and the Sale and Repurchase Agreement represent the most conducive and cost-effective way of ensuring trading liquidity of Shares in the Hong Kong market during the Bridging Period.