Examples of Proposed Disposal in a sentence
As such, each of the Proposed Acquisition, the Proposed Disposal and the Proposed Joint Venture also constitutes a connected transaction of the Company and is subject to the reporting, announcement, circular (including independent financial advice) and Independent Shareholders’ approval requirements under Chapter 14A of the Listing Rules.
The EGM will be held for the Independent Shareholders to consider and, if thought fit, approve the Master Agreement and the transactions contemplated thereunder (including the Proposed Acquisition, the Proposed Disposal, the Proposed Joint Venture and the Possible Unwinding Transaction).
As one of the applicable percentage ratios (as defined in Rule 14.07 of the Listing Rules) in respect of the Proposed Disposal exceeds 25% but all of them are less than 75%, the Proposed Disposal constitutes a major transaction of the Company.
The net sale proceeds from the Proposed Disposal (after deducting related transaction costs) are estimated to be approximately HK$106,721,000 (assuming that there is no material difference in the amount of NAV arrived at based on the consolidated management accounts of the HK PropCo as at 31 March 2022 and the Completion Accounts).
Shareholders should note that the actual gain or loss arising from the Proposed Disposal can only be determined when the net gain or loss on the Proposed Disposal, taking into account (i) the final amount of the Disposal Consideration to be ascertained after considering necessary adjustments (if any) to be made as described above and (ii) the relevant transaction costs and tax (if any) in connection with the Proposed Disposal, can be determined after Disposal Completion has taken place.