Examples of Five Vessels in a sentence
Simultaneously with the signing of the 1 MOA, the Bareboat Charterers, each being a wholly-owned subsidiary of the Company, entered into five bareboat charterparties as described herein with the Purchasers to charter the Five Vessels back into the Company’s * For identification purposes onlychartered fleet at agreed charter rates for a fixed period of ten years.
In addition, no third party valuation has been performed on any of the Five Vessels.
This document constitutes the circular which the Company is required to send to you pursuant to the Listing Rules in relation to the sale and bareboat charter back of the Five Vessels.
Value of the Five Vessels:The carrying value of the Five Vessels in the Company’s accounts as at 31 August 2005 was US$96,636,482 (approximately HK$753,764,560).
Payment terms: The consideration for the sale of the Five Vessels was US$100,000,000 (approximately HK$780,000,000), which was received upon signing of the 1 MOA.
Under the five bareboat charterparties each of the Bareboat Charterers has the option to individually re-purchase each of the Five Vessels at any time with three months notice during each bareboat charterparty.
However, as is commonly the case in the dry bulk carrier market, there have not been any recently published sale and charter backs by third party vendors of vessels of the exact size of the Five Vessels from which to make a direct comparison.
The existing SCE Antelope 220 kV Substation is located on historical grazing land.
Net Profits attributable to the Five Vessels:The Five Vessels were all acquired by the Company on 31 March 2004.
On 18 August 2005, the Directors announced that the Sellers, each being an indirect wholly-owned subsidiary of the Company entered into the 1 MOA with the Purchasers (each being owned by the same ultimate beneficial owner), to sell to them the Five Vessels as described herein for a consideration of US$100,000,000 (approximately HK$780,000,000).