The non-cash consideration is to be satisfied with the following taking place at completion
i)a seller promissory loan note of HKD2.68 billion will be issued by the Seller to HKE in respect of the net inter-company balances owed by the Seller to HKE;
(ii)a purchaser promissory loan note of HKD2.68 billion will be issued by Cathay Pacific to the Seller in respect of the non-cash consideration; and
(iii)the seller promissory loan note will be novated by the Seller to Cathay Pacific in discharge of all obligations and liabilities of Cathay Pacific under the purchaser promissory loan note.