Examples of Loan Arrangement in a sentence
As the highest applicable percentage ratio (as defined under the Listing Rules) in respect of the Loan Arrangement exceeds 0.1% but is less than 5%, the Loan Arrangement is subject to the reporting and announcement requirements but is exempt from the circular and shareholders’ approval requirements under Chapter 14A of the Listing Rules.
The Directors consider that the Loan Arrangement would be beneficial to the Group in terms of return and risk control.
For the sake of good corporate governance practices, Xx. Xxxx Xxxxxxx has abstained from voting on the Board resolutions approving the Loan Arrangement.
By virtue of the relationship between the parties as described above, the Borrower is a connected person of the Company and the Loan Arrangement constitutes a connected transaction for the Company under the Listing Rules.
In view of the above, the Directors (including the independent non-executive Directors) are of the opinion that although the Loan Arrangement is not in the ordinary and usual course of business of the Group, the terms of the Loan Arrangement are on normal commercial terms and are fair and reasonable and in the interests of the Company and its shareholders as a whole.