Platinum Securities definition
Examples of Platinum Securities in a sentence
Platinum Securities Company Limited has been appointed as the independent financial adviser to advise the Independent Board Committee and the Independent Shareholders regarding the terms of the Agreement and the transactions contemplated thereunder.
Platinum Securities Company Limited has been appointed as the independent financial adviser to advise the Independent Board Committee and the Independent Shareholders in this regard.
Pursuant to Rule 14A.52 of the Listing Rules, Platinum Securities has been engaged by ▇▇▇▇▇▇▇▇ as its independent financial adviser to give advice and explanation on why a longer period (more than three years) for the Renewal Agreement is required and to confirm that it is the normal business practice for agreements of this type to be of such duration.
The Company has appointed Platinum Securities as the independent financial adviser to advise the Independent Board Committee and the Shareholders in respect of the Supplemental Agreement.
Platinum Securities has reviewed, among other things, the Renewal Agreement and also the Previous Agreement for the premises.
Therefore, Platinum Securities is of the view that the duration of the Master Hotel Leasing Agreement is within the range of durations of the lease agreements of the above market comparables, justifiable and it is the normal business practice for agreements of this type to be of such duration.
Platinum Securities noted that owing to the unique nature of the hotel industry, hotel leasing contracts are commonly long term transactions and a contract of three-year duration is not practical and commercially sensible because from the perspective of the hotel tenants, they usually incur substantial initial outlay for the marketing and branding of new hotels and it may take several years to establish systems which fit in particular requirements of the hotels to achieve the desired results.
Furthermore, Platinum Securities has reviewed several existing agreements of Other Relevant Group’s Tenancies and Other Relevant CS Tenancies, together with copies of the Outside Parties’ Leases, all being in relation to retail and/or supermarket premises of comparable size and for durations of more than three years.
Platinum Securities noted that owing to the unique nature of the hotel industry, hotel management contracts are commonly long term transactions.
Therefore, Platinum Securities is of the view that the duration of the Master Hotel Management Services Agreement is justifiable and it is normal business practice for agreements of this type to be of such duration.