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Transfer Of Ownership Of The Trustee-Manager Approved

BackApr 29, 2020
Announcement Title General Announcement
Date & Time of Broadcast Apr 29, 2020 20:23
Status New
Announcement Sub Title TRANSFER OF OWNERSHIP OF THE TRUSTEE-MANAGER APPROVED
Announcement Reference SG200429OTHREJ1Z
Submitted By (Co./ Ind. Name) BRIAN MCKINLEY
Designation CHIEF EXECUTIVE OFFICER
Effective Date and Time of the event 29/04/2020 20:20:00
Description (Please provide a detailed description of the event in the box below) Transfer of Mr Terry Gou's 20% interest in Dynami to Mr Lu Fang-Ming, announced on 14 May 2019, has received regulatory approvals in Taiwan. Please refer to the attached document for more details.

Attachments

  1. Attachment 1 (Size: 71,926 bytes)
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No PRC Person shall hold or control Units in Asian Pay Television Trust in breach of the PRC Investment Restrictions and no Restricted Party shall hold or control Units in breach of the Taiwan Government Ownership Restrictions. The Trustee-Manager may, in the case of a breach of the PRC Investment Restrictions and/or the Taiwan Government Ownership Restrictions and/or where a corporate entity which provides cable television services in Taiwan (as determined by the Trustee-Manager in its sole discretion) holds or acquires more than one-third of the total issued Units, take all steps and do all things as they may in their absolute discretion deem necessary to ensure that the restrictions thereunder are complied with. In particular, the Trust Deed provides that the Trustee-Manager has the power to require the relevant Unitholders to dispose of their Units and, if such request is not complied with within 21 days after such request (or such shorter period as the Trustee-Manager shall consider reasonable), the power to arrange for the sale of the Units. Pending such sale, the Trustee-Manager has the power to suspend the voting rights of such Units and/or to restrict the transfer of such Units. The Trustee-Manager shall not be required to give any reason for, and shall not under any circumstances be liable to or be responsible for any losses incurred by, any person as a result of, any decision, declaration or action taken or made in this regard.