Alliance International Education Leasing (01563) surged more than 15% in early trading. As of press release, it rose 13.98% to HK$1.06, with a turnover of HK$7.4 million.
The Zhitong Finance App learned that Youlian International Education Leasing (01563) surged more than 15% in early trading. As of press release, it had risen 13.98% to HK$1.06, with a turnover of HK$7.4 million.
According to the news, Alliance International Education Leasing announced that on August 21, 2023, SPV1, a wholly-owned subsidiary of the fund, signed the first memorandum of agreement with Xiehai Explorers. SPV1 (as the buyer) agreed to buy, while Xiehai Explorers (as the seller) agreed to sell the first ship, subject to the terms and conditions contained therein; and entered into a bareboat lease I with XH Union Shipping (as a charterer), relating to SPV1 as the shipowner's first bareboat charter. As of the date of this announcement, the acquisition of the first ship has been completed.
On February 27, 2024, SPv2, a wholly-owned subsidiary of the fund, entered into a replacement agreement with Xiehai Pilot and Fond Marine, including: SPV2 (as the new lessee) shall assume all the obligations and responsibilities of the Xiehai Pilot (as the original lessee) and enjoy all rights and claims under the original charter of the second ship; and with Xiehai Pilots (as the charterer) entered into a bareboat lease II for the second ship. SPV2 was granted a put option on the second day of the agreement lease term The ship was sold to the Association sea pilot; and preparation of relevant documents relating to the second ship.
The Group believes that the acquisition of these vessels will expand and strengthen the Group's revenue base. Furthermore, the conclusion of a replacement agreement and bareboat lease II is a leasing arrangement for the second ship. The company believes this is beneficial to the group because the group can obtain stable working capital while maintaining proper rights to the second ship, which will also have a positive impact on the group's cash flow.