Examples of Macau in a sentence
The New Service Agreement may be renewed by mutual agreement between the Company, CCAL and CCA Macau subject to compliance with the Listing Rules and all applicable law.
If the approval by the Independent Shareholders of the New Service Agreement is not obtained on or before 31 January 2017 (or such later date as may be agreed between the Company, CCAL and CCA Macau), the New Service Agreement will automatically be terminated and neither party to the New Service Agreement shall have any claim against the other parties by reason thereof.
The Annual Caps under the New Service Agreement are determined between the parties on an arm’s length basis by reference to factors such as the current market price of similar services available in the market, the prevailing market conditions and the Group’s various developments, particularly its existing property development projects in Hong Kong, the property development project in Macau and Malaysia and the proposed renovation projects for existing rental properties of the Group.
CCAL and CCA Macau are companies wholly owned by Xx. Xxxx, an executive Director and the controlling Shareholder.
Given that the maximum annual value of the Services to be provided by CCAL and CCA Macau under the New Service Agreement exceeds HK$10 million and the relevant percentage ratios (as defined in Rule 14.07 of the Listing Rules) also exceeds 5%, the New Service Agreement is subject to reporting, announcement and Independent Shareholders’ approval requirements under the Listing Rules.