Restructuring Exercise definition
Examples of Restructuring Exercise in a sentence
Ltd who is the independent financial advisor and scheme manager for the Restructuring Exercise, and Scheme Creditors, and will only be finalised upon approval of the Scheme.
The Convertible Loans shall be used by the Borrower for the acquisition of relevant assets of Shengda Nano and Shengda Chem pursuant to the Asset Acquisition Agreements as part of the Restructuring Exercise for the Initial Public Offering on the SGX-ST.
In addition to entering into the Implementation Agreement with the Investor, the Company is working with the Investor to address any other going concern issues that may arise during the course of the Restructuring Exercise, with the intention of enabling the Company to have sufficient working capital and to operate as a going concern pursuant to the Investment.
The Full Investment Amount is intended to provide the Company with sufficient funds for working capital purposes, to settle its liabilities upon the successful implementation of the Restructuring Exercise and to operate as a going concern.
CYI acknowledges and accepts, however, that the successful implementation of the Restructuring Exercise will require the continued uninterrupted involvement and participation of Yuchai's current Chief Executive Officer on and subject to the terms (including remuneration) of his employment agreement.
The Vendors shall, upon completion of the Presale Restructuring Exercise, be the legal and beneficial owners of all the shares representing the entire issued and paid-up capital of the Target Company.
The Full Investment Amount shall be utilised by the Company for its working capital requirements, staff salaries and settlement of liabilities upon successful implementation of Restructuring Exercise, subject to the terms of the Scheme to be proposed and sanctioned by the Court.
As such and as set out in Paragraph 2 of this announcement, the proceeds from the Investment are intended to provide the Company with the required funds for working capital purposes and to settle its liabilities upon the successful implementation of the Restructuring Exercise.
Accordingly, CYI agrees that it will not, and will procure that its appointees to the Board of Directors of Yuchai do not, take any action prior to the completion of the Restructuring Exercise that will interfere with, or cause the termination of, the employment of Yuchai's current Chief Executive Officer except if he were to be prosecuted or convicted for any activities of a criminal nature.
The financial sub-committee and the Board of Directors of Yuchai shall unless there is a conflict with the Articles of Association of Yuchai be guided by the financial advisor to the Restructuring Exercise jointly engaged by CYI and Yuchai as described in clause 2.8 below as to the reasonableness of the amount of the working capital proposed by Yuchai to meet its on-going requirements for its businesses at the date of this Agreement.