Originally Posted by
ernestnywang
I missed the 2018 articles.
The 2 January 2018 filing referred to is here
https://di.hkex.com.hk/di/NSForm2.as...=MAIN&lang=EN&
The attachments are:
https://di.hkex.com.hk/di/report_ful...0000055384.pdf
https://di.hkex.com.hk/di/report_ful...0000055385.pdf
https://di.hkex.com.hk/di/report_ful...0000055386.pdf
55385 is the 2006 agreement, when CA established the cross-holding.
At the time the cross-holding was established, the shareholders' agreement was not disclosed, only summarised in page 11 of the link I provided above.
The 2 January 2018 is around the same time as the Qatar investment into CX.
I am not sure whether the investment triggered the filing.
Page 11 of the 2006 shareholders' agreement
di.hkex.com.hk/di/report_full/2018_01_02/CS20180102E00058/A0000000000000055385.pdf#page=11 established the shareholders' obligation not to invest in any other HK carrier.
Although it did give CA an exception - it can ignore the clause if the CPG requires CA to do so.
The investment in CA doesn't appear to be "required" by the CPG (not explicitly, anyway).
But I wonder what the consequences of the prohibition in investment in other airlines clause will be.
CX can certainly take legal action to block CA from doing so.
But will it?