Examples of Eastern Logistics in a sentence
Upon completion of the disposal of Eastern Logistics, the Bellyhold Space freight business of the Company will be in competition with the all-cargo aircraft freight business of China Cargo Airlines, a 83%-owned subsidiary of Eastern Logistics and in turn a subsidiary of CEA Holding.
The provision of the air freight logistics system services under the China Cargo Technology Services Provision Agreement and the Eastern Logistics Technology Services Provision Agreement is in the ordinary and usual course of business of the Group.
Information on China Cargo and Eastern Logistics Both China Cargo and Eastern Logistics are principally engaged in the provision of cargo carriage services.
The Directors (including the independent non-executive Directors) are of the view that the transactions under the China Cargo Technology Services Provision Agreement and the Eastern Logistics Technology Services Provision Agreement will be conducted in the ordinary and usual course of business of the Group and on normal commercial terms, and that the terms of the transactions and the relevant annual caps are fair and reasonable and in the interests of the Company and the Shareholders as a whole.
Non-Vessel-Operating Common Carrier—Ocean Transportation Intermediary Applicants: Eastern Logistics LLC, 0 Xxxx Xx., Bayonne, NJ 07002.
As at the date of this announcement, China Cargo Airlines is a non-wholly owned subsidiary of Eastern Logistics, which in turn is a non-wholly owned subsidiary of CEA Holding (the controlling Shareholder of the Company) and thus China Cargo Airlines is a connected person of the Company as defined under the Hong Kong Listing Rules.
As at 8 February 2017, the Company had transferred 100% equity interest in Eastern Logistics to Eastern Airlines Industry Investment and the industrial and commercial registration of such transfer had been completed.
As such, since 8 February 2017, Eastern Logistics has ceased to be a subsidiary of the Company and has become a subsidiary of CEA Holding.
IMPLICATIONS UNDER THE LISTING RULES China Cargo and Eastern Logistics are both subsidiaries of Eastern Airlines as at the date of this announcement.
On 29 November 2016, the Company entered into the Disposal Agreement with Eastern Airlines Industry Investment, a wholly-owned subsidiary of CEA Holding, the controlling Shareholder of the Company, pursuant to which the Company had disposed the entire equity interest in Eastern Logistics to Eastern Airlines Industry Investment.