CCT Approval definition
Examples of CCT Approval in a sentence
The Independent Board Committee has been established to provide a recommendation to the Independent Shareholders in respect of the terms of the Master Agreement based on the advice of an independent financial adviser of the Company to be appointed to advise the Independent Board Committee and the Independent Shareholders in respect of the terms of the Master Agreement and of the CCT Approval.
The approval and ratification of the entering into of the respective Master Agreements and the CCT Approval will be sought from the Independent Shareholders at the AGM.
Any acquisition of Connected Debt Securities will also constitute a “transaction” within the meaning ascribed to that term in Listing Rule 14.04(1)(a) and the transactions contemplated under the Master Agreement may, on an aggregate basis, constitute a “major transaction” as defined under the Listing Rules if the Directors exercise in full the power granted to them pursuant to the CCT Approval in the Term.
These Master Agreements are entered into in anticipation of the expiry of the 2009 CCT Approval at the AGM and to allow the Company the flexibility to invest in debt securities issued by corporations which may be classified as connected persons of the Company on a fair and reasonable basis and in the interest of the Shareholders as a whole.
By virtue of their respective interests in the Master Agreements described above, CKH, Messrs ▇▇ ▇▇-▇▇▇▇▇ and ▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇ and their respective associates will abstain from voting at the AGM on the relevant resolution proposed to be passed to approve and ratify the relevant Master Agreement and grant the CCT Approval.
As the 2009 Master Agreement shall expire on 13th May, 2010, being one year from the date on which the 2009 Master Agreement was approved by the Independent Shareholders, the Company wishes to renew the transactions as set out in the Master Agreement and seek the CCT Approval from the Independent Shareholders at the AGM.
As it would be imprudent to put all or even a majority of Group’s liquidity into such debt securities, protections and limitations are proposed in the Master Agreement and in the resolution for granting the CCT Approval to be sought from the Independent Shareholders with a view to setting a sound framework for a liquidity investment policy applicable to Connected Debt Securities which may be acquired in the Term, which should improve the Group’s returns while keeping increased risks within prudent limits.
The CCT Approval will be sought from the Independent Shareholders at the AGM.
The AGM will be convened to obtain, among other things, the CCT Approval from the Independent Shareholders.