DISPOSAL COMPLETION. Purchaser shall remove organic debris from the road surface, ditchlines, and culvert inlets and outlets. Purchaser shall complete all disposal of organic debris before the application of rock.
DISPOSAL COMPLETION. All disposal of organic debris, shall be completed before the application of rock.
DISPOSAL COMPLETION. Contractor shall remove organic debris from the road surface, ditchlines, and culvert inlets and outlets. Contractor shall complete all disposal of organic debris before subgrade compaction, the application of rock, and timber haul.
DISPOSAL COMPLETION. Subject to the satisfaction or (if applicable) waiver of the Disposal Conditions as set out above, Disposal Completion will take place on the Disposal Completion Date. The Share Agreement and the Disposal Agreement are inter-conditional upon each other. The Completion is intended to take place simultaneously with Disposal Completion. Information of SomaFlex Holdings and the Disposal Company SomaFlex Holdings is a company incorporated in the BVI with limited liability and as at the date of this joint announcement, SomaFlex Holdings is beneficially owned as to approximately 98.27% by the Vendor, as to approximately 0.76% by Mr. So, as to approximately 0.76% by Xx. Xxxx and as to approximately 0.21% by Xx. Xxxxx. The Vendor, Mr. So and Xx. Xxxx are executive Directors while Xx. Xxxxx is the company secretary and the qualified accountant of the Company. The principal activity of SomaFlex Holdings is investment holding. The Disposal Company, a company incorporated in the BVI with limited liability, is a direct wholly-owned subsidiary of the Company as at the date of this joint announcement. Upon completion of the Reorganisation, the Disposal Company will become the holding company of the Disposal Group and will be principally engaged in, through the Disposal Group, the Disposal Business. In addition, the unaudited turnover and profit before and after tax of the Disposal Group for each of the two years ended 31 March 2010 were as follows: Year ended 31 March 2009 2010 HK$’000 HK$’000 Turnover 85,784 75,893 Gross profit 63,870 51,196 (Loss)/profit before tax 3,877 (11,992) (Loss)/profit after tax 4,079 (11,957) The unaudited total assets and the net liabilities of the Disposal Group as at 30 September 2010 were approximately HK$53 million and approximately HK$49 million respectively. Each member of the Disposal Group will cease to be a subsidiary or an associated company of the Company upon Disposal Completion. Use of proceeds and financial effect of the Disposal The Company estimates that the net proceeds from the Disposal is approximately HK$36 million. The Company intends to apply such net proceeds for the payment of Distribution. Rule 19.60(3)(a) of the GEM Listing Rules requires disclosure of details of the gain or loss expected to accrue to the Group and the basis for calculating such gain or loss as a result of the Disposal (the “Required Financial Information”) in this announcement. In connection with this requirement, an application for waiver has been m...
DISPOSAL COMPLETION. Purchaser shall remove organic debris from the road surface, ditchlines, and culvert inlets and outlets. Purchaser shall complete all disposal of organic debris before the application of rock 3-22 DESIGNATED WASTE AREA FOR ORGANIC DEBRIS Waste areas for organic debris are located within the cleared right-of-way or in natural openings as designated at areas approved in writing by the Contract Administrator.
DISPOSAL COMPLETION. The Disposal Completion shall take place on the date falling on the 60th day after the fulfilment or waiver of the Disposal Conditions or 31 March 2023, whichever is earlier (or on such other date as the HK Vendor and the HK Purchaser may agree in writing). Upon the Disposal Completion, the HK PropCo will be held as to 20% by the HK Vendor (thereby ceasing to be a subsidiary of the Company) and 80% by the HK Purchaser, and the respective rights and obligations of, among others, the HK Vendor and the HK Purchaser in relation to the Proposed Joint Venture will be governed by the Shareholders’ Deed. The Shareholders’ Deed Since after the Disposal Completion the HK PropCo will be owned by the HK Purchaser and the HK Vendor, in order to regulate their respective rights and obligations in respect of the Proposed Joint Venture, pursuant to the HK PropCo Agreement, the HK Purchaser and the HK Vendor shall agree that upon the Disposal Completion, the HK Vendor, the HK Purchaser, the HK PropCo, Xx. Xxxx and Xxx. Xxxx will enter into the Shareholders’ Deed in relation to the HK PropCo. The principal terms of the Shareholders’ Deed are summarised below:
DISPOSAL COMPLETION. All disposal of organic debris, shall be completed before approval of final maintenance>.
DISPOSAL COMPLETION. Purchaser shall remove organic debris from the road surface, ditchlines, and culvert inlets and outlets. Purchaser shall complete all disposal of organic debris before subgrade compaction on new construction or before rock application on existing road maintenance. 0-00 XXXXXXXXXX XXXXX XXXX FOR ORGANIC DEBRIS Waste areas for organic debris are located as listed below and within the cleared right−of−way or in natural openings, or at areas approved in writing by the Contract Administrator. Road Disposal Location Requirements V−6600 Ext. 5+85 Place debris along ridgetop. No debris closer than 10 feet from slope break.
DISPOSAL COMPLETION. Subject to satisfaction of all the Disposal Closing Conditions in full, the Disposal Completion shall take place on the Disposal Completion Date.
DISPOSAL COMPLETION. The sale and purchase of the Allywing Sale Share and the assignment of the benefits and interests of the Allywing Sale Loan shall be completed simultaneously. Disposal Completion shall fall on the fifth Business Day (or such other Business Day agreed in writing by the parties to the Disposal Agreement or deferred by the non-defaulting party pursuant to the relevant provisions of the Disposal Agreement) after the date on which the conditions set out above (except conditions precedent in paragraphs (j) and (k) above which may be satisfied simultaneously upon Disposal Completion) have been satisfied (or waived as the case may be). Information of Allywing Group Allywing is incorporated in the BVI on 12 April 2007 with limited liability. As at the date of this announcement, Allywing is an indirect wholly owned subsidiary of the Company as an investment holding company. Xi’an Yuansheng is a company incorporated in the PRC with limited liability with a registered capital of RMB120,000,000 and is owned as to 60% by Allywing and as to 40% by Xingchuang. It is principally engaged in development and sale of real estate and property management and owns the land use and development rights of the Xi’an Land which is located at Caotan Nongchang Dong Qu, Weiyang District, Xi’an City, the PRC. The Xi’an Land covers a site area of approximately 134,357 square meters for residential use with a land use right of 70 years and a site area of approximately 19,739 square meters for commercial use with a land use right of 40 years. According to the latest development plan of Xi’an Project, the Xi’an Land would be developed into a residential and commercial area comprising approximately 653,727 square meters which include 19 blocks of residential buildings and 2 blocks of commercial buildings. The Xi’an Project will be developed in several phases, of which, the major construction of the first phase with a gross floor area of approximately 114,005 square meters has commenced in the second quarter of 2012 while the pre-sale is expected to be commenced in September 2013. The capital expenditure for the Xi’an Project is expected to be RMB560 million. As at the date hereof, certificate for the use of state-owned land, the planning permit for construction use and approval for the phase 1 of the project have been obtained. The unaudited financial results of the Allywing Group for the two years ended 31 December 2012 are respectively summarised as follows: Net loss before taxation and extr...
