Examples of Resumption Proposal in a sentence
On 4 December 2014, the Investor and the Company entered into the Exclusivity Agreement pursuant to which the Investor has been granted the Exclusivity Period to formulate the Resumption Proposal and to negotiate with the Company in good faith for entering into the Restructuring Documents with a view to the Resumption.
As at the date of this announcement, the resumption conditions imposed by the Stock Exchange in respect of the Resumption Proposal as stated in the announcement of the Company dated 18 February 2015 are yet to be fulfilled and the terms of the Proposed Restructuring are still under review.
The Company is preparing and updating its Resumption Proposal to the Stock Exchange and will keep the Shareholders and investors informed of the latest developments by making further announcements as and when appropriate.
As disclosed in the Company’s announcement dated 13 December 2017, the Listing (Review) Committee decided to set aside the cancellation of the Company’s listing status to enable the Company to proceed with implementing the Resumption Proposal and the transactions contemplated thereunder subject to the fulfilment of certain conditions.
During the Exclusivity Period, the parties shall use best endeavours to formulate the Resumption Proposal for the submission to the Stock Exchange with a view to the Resumption.
As disclosed in the Announcements, the transactions contemplated under the Resumption Proposal include, among other things, the Subscription, the disposal of certain equity interests of the subsidiaries of the Company and the Open Offer.
The EGM will be held by the Company for the Shareholders to consider and, if thought fit, pass the resolutions to approve all the transactions as contemplated under the Resumption Proposal, including but not limited to, the Subscription, the Whitewash Waiver and the Special Deal.
Fee Contribution Pursuant to the Exclusivity Agreement, the Investor has paid a total sum of HK$3,750,000 (the “Initial Fee Contribution”) to the Provisional Liquidators as an initial fee contribution towards settlement of the fees, charges, costs, expenses and disbursements of the Company and the Provisional Liquidators incurred in connection with the implementation of the Proposed Restructuring and the Resumption Proposal.
The Subscription, which forms part of the resumption plan contemplated under the Resumption Proposal, is subject to the fulfilment of certain conditions, and therefore may or may not materialise.
The Company considers that the Resumption Proposal is a viable one and addressed the resumption conditions imposed by the Stock Exchange.