Examples of TCL Holdings in a sentence
As TCL Holdings is the holding company of TCL Industries, it is an associate of TCL Industries and therefore also a connected person of the Company under Chapter 14A of the Listing Rules.
As at the date of this announcement, 1,235,272,639 Shares of the Company, representing approximately 52.33% of the total number of issued Shares of the Company, are held by TCL Industries, which in turn is held as to 100% by TCL Holdings.
TCL Holdings, TCL Associates will abstain from voting in respect of the Non-exempt Transactions to be put forward at the EGM.
The terms of the Master Services (2019-2021) Agreement are substantially incorporated from the Master Services (2019) Agreement, save for (i) the change of counterparty from TCL Industries and various other TCL Associates to TCL Holdings (for itself and on behalf of its associates); and (ii) the change of the duration of the agreement.
As at the date of this announcement, TCL Holdings is an associate of Xx. XX Xxxxxxxxx under Chapter 14A of the Listing Rules.
In view of Xx. XX Xxxxxxxxx’s indirect interests in TCL Holdings, he did not participate in nor vote in the board meeting during which the Board approved the Non-exempt Transactions and the Master Rental (2019-2021) Agreement to avoid any potential conflict of interests, and that he will abstain from voting in respect of the Non-exempt Transactions to be put forward the EGM.
As the spin-off by TCL Corporation of all its ownership interest in, among others, TCL Industries to TCL Holdings had been completed by 31 March 2019, TCL Corporation ceased to be a connected person of the Company since then.
Out of the other Directors, Xx. XXXX Xxxxx is also the chief executive officer of TCL Holdings, whereas Mr. XXXX Xx is also a vice- president of TCL Holdings.
In the first quarter of 2019, a restructuring (the “Restructuring”) involving certain then subsidiaries and associates of TCL Corporation occurred, whereby TCL Corporation spun off, among others, all its equity interests in TCL Industries, together with its equity interests in various of its associates (including those with which the Group had been conducting continuing connected transactions) to TCL Holdings.
As at the date of this announcement: (i) 1,235,272,639 Shares are held by TCL Industries, which in turn is held as to 100% by TCL Holdings; (ii) a total of 58,075,494 Shares are held directly by Xx. XX Xxxxxxxxx and his spouse.