Examples of New Lease in a sentence
Since the relevant percentage ratios (as defined under the GEM Listing Rules) in respect of the rent payable by the Company to BICD under the New Lease Agreement are less than 2.5%, the transactions contemplated under the Lease Agreement is subject to only reporting and announcement requirements in accordance with Rules 20.45 to 20.
In addition, the Directors have also confirmed that the Company will comply with the annual review requirement under Rules 20.37 and 20.38 of the GEM Listing Rules in respect of the transaction contemplated under the New Lease Agreement.
The Directors propose the caps of RMB4.2 million (equivalent to approximately HK$4.49 million) and RMB2.0 million (equivalent to approximately HK$2.14 million) for the rent payable to BICD under the New Lease Agreement for each of the two years ending 31 December 2008 and 2009, respectively.
Date 31 March 2008 Parties to the New Lease Agreement Landlord : BICD Tenant : the Company Location The New Office Premises with an aggregate floor area of 2,940 sq.m., being units 1202 to 1214 and 1501 to 0000 xx Xxxxxxx Xxxxxx Xxxxx, 00 Xxxxxxx Xxxx, Xxxxxxx Xxxxxxxx, Xxxxxxx, XXX.
The Directors confirmed that the terms under the New Lease Agreement were determined after arm’s length negotiation between the Company and BICD, with reference to, among other things, the market rental rate of other office premises of comparable quality in the same region.