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Old Mar 9, 2020, 3:03 pm
  #6  
percysmith
Ambassador, Hong Kong and Macau
 
Join Date: May 2009
Location: HKG
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Posts: 19,775
Originally Posted by ernestnywang
The agreement I mentioned was reported today by Apple Daily and also previously by hk01 and Mingpao.

Apple Daily on 09MAR2020 (https://hk.appledaily.com/finance/20...V4QOVG3MYMYIM/):


hk01 on 03JAN2018 (https://www.hk01.com/財經快訊/146216/國泰股...38480;制):


Mingpao on 03JAN2018 as well (https://m.mingpao.com/fin/daily2.php...issue=20180103):


Indeed the page you referenced didn't mention this, although I was unable to read through the entire document. Could it be a separate agreement?
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?
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