ANNUAL CAPS. An aggregate of the annual caps, which represents the sum of (i) the rental payable by Nanyang Tobacco to Nanyang Enterprises under the Tuen Mun Lease Agreement for the period from 1 January 2021 to 31 December 2021 in the amount of HK$33,000,000, and (ii) the rental payable by the Company to International Hope under the Harcourt Tenancy Agreement for the period from 1 January 2021 to 31 December 2021 in the amount of HK$11,248,800, will be HK$44,248,800. The historical amount paid by Xxxxxxx Xxxxxxx to Nanyang Enterprises in respect of the lease of the Tuen Mun Property under the Existing Lease Agreement I for the year ended 31 December 2020 was HK$33,000,000. The historical amount paid by the Company to International Hope in respect of the lease of the Harcourt House Office under the Existing Lease Agreement II for the year ended 31 December 2020 was HK$11,248,800. The annual caps were determined with reference to (a) historical amounts paid by Nanyang Tobacco to Nanyang Enterprises and by the Company to International Hope under the Existing Lease Agreements, and (b) the rentals stipulated in the Lease Agreements.
ANNUAL CAPS. For the financial year ending 31 December 0000 0000 0000 Master ITOCHU Supply Agreement US$1.1 million (approximately HK$8.6 million) US$1.4 million (approximately HK$10.9 million) US$1.6 million (approximately HK$12.5 million) The above annual caps have been determined by reference to (i) the value of the historical purchases for the financial year ended 31 December 2022 and the seven months ended 31 July 2023; and (ii) the projected increase in the overall purchase volume of the CTEI Purchase Products from the ITOCHU Group for the remaining part of 2023 and for the financial years ending 31 December 2024 and 2025.
ANNUAL CAPS. The Directors of the Company propose the annual caps for the continuing connected transactions in respect of the mutual provision of securities and financial services between the Group and the Everbright Group and its associates for each of 2022, 2023 and 2024 as follows: Securities and Financial Services Proposed annual caps for the three years ending December 31, 2022 2023 (RMB million) 2024 Revenue to be generated by the Group from provision of securities and financial services to the Everbright Group and its associates 1,145 1,374 1,718 Fees to be paid by 849 1,019 1,274 the Group to the Everbright Group and its associates for their provision of securities and financial services
ANNUAL CAPS. The Board expects that the aggregate amounts of rentals (basic rent and anticipated maximum turnover rent), management fees, air-conditioning charges, promotion levy and other miscellaneous charges (exclusive of Government rates) receivable under the Tenancy Renewal Agreement and the licence fees receivable under the Licence Agreements will not exceed the following maximum figures (the “Annual Caps”): For the period from 1 July 2014 to 31 December 2014 HK$6,600,000 For the period from 1 January 2015 to 31 December 2015 HK$13,200,000 For the period from 1 January 2016 to 31 December 2016 HK$13,200,000 For the period from 1 January 2017 to 30 June 2017 HK$6,600,000 Based on historical figures under the 2011 Lease Agreement, the maximum turnover rent in respect of the Premises is anticipated not to exceed HK$175,000 per month, which is taken into account in arriving at the Annual Caps.
ANNUAL CAPS. The annual caps for the fees receivable by the Group with respect to the Power Purchases under the Rooftop Photovoltaic Power Generation Project Agreement are estimated amounts for each of the 20 financial years commencing from the Effective Date and up to 9 May 2042, details of which are set out below: Continuing Connected Transactions For the year ending 31 December 2022 (commencing from the Effective Date) For each of the financial years ending 31 December 2023 – 2041 For the period from 1 January 2042 and up to 9 May 2042 Electricity fees receivable by the Group under the Rooftop Photovoltaic Power Generation Project Agreement RMB3,233,000 RMB5,000,000 RMB1,767,000 In determining the annual caps for the electricity fees to be received by the Group with respect to the Power Purchases under the Rooftop Photovoltaic Power Generation Project Agreement, the Board based on information available on the (i) designed capacity of the rooftop solar photovoltaic power systems; (ii) the current unit price of electricity prescribed by the relevant power supply bureau; (iii) estimates of volume of electricity to be generated by the rooftop solar photovoltaic power systems; and (iv) the current development plan of the Group for the rooftop solar photovoltaic power systems at the leased rooftops from CMBL.
ANNUAL CAPS. As this is the first time that the Company and the Bus Company have entered into the Landside Shuttle Bus Services Agreement, there are no historical annual caps available. The Company expects that the annual caps of the total service fee payable by the Company to the Bus Company during the term of the Landside Shuttle Bus Services Agreement are as follows: From From 15 December For the For the 1 January 2021 to year ending year ending 2024 to 2021 (RMB million) 2023 (RMB million) 2024 (RMB million) 2024 (RMB million) Annual caps 3.6 21.3 21.3 18 The above annual caps are determined based on the following factors:
ANNUAL CAPS. Based on the estimate of the Directors of the Company, the annual caps under the 2021 Everbright Group Property Leasing Framework Agreement for each of 2022, 2023 and 2024 are set out below. These caps are inclusive of management fees relating to the relevant leased properties (if any): Property Leasing Rental income to be received by the Group from the Everbright Group and its associates for the leased property Rental expenses paid by the Group to the Everbright Group and its associates for the leased property/total value of right-of-use assets involved Proposed Annual caps for the year ending December 31, 2022 2023 (RMB million) 2024 8.0 8.0 9.2 118.0Note 1 184.0Note 1 207.0Note 1 Note:
ANNUAL CAPS. Due to the nature of the securities and financial products transactions as described below, the Company considers that it is impracticable to set a maximum aggregate annual value for each category of these transactions:
ANNUAL CAPS. In accordance with the Listing Rules, we have set annual caps for the maximum aggregate engagement fee payable by us to Sum Technic for the financial years ending 31 December 2020 and 2021 at RM0.7 million (i.e. RMB1.2 million) and RM2.0 million (i.e. RMB3.3 million), respectively. The abovementioned annual caps are determined taking into account (i) the expected amount and project progress of variation work for the Relevant Project based on our experience; and (ii) the total engagement fee payable by us to Sum Technic for project/construction management service for the Relevant Project Phase 2 of RM2.0 million. Our Directors consider that the abovementioned annual caps are reasonably determined pursuant to the Listing Rules. Listing Rules implications As each of the applicable percentage ratios (as defined in Rule 14.07 of the Listing Rules) calculated for the purpose of Chapter 14A of the Listing Rules will be more than 0.1% but less than 5%, the transactions contemplated under the Project Management Service Contracts will constitute continuing connected transactions exempt from the circular and independent shareholders’ approval requirements but subject to the announcement requirement under Chapter 14A of the Listing Rules. WAIVER
ANNUAL CAPS. In relation to the total annual amount payable by Richcoast Group to Yida Group for the Construction Services provided by Yida Group in accordance with the Original Agreement, the Annual Caps for the two years ending 31 December 2010 as disclosed in the Previous Announcement are considered to be no longer sufficient. Therefore, the Company seeks to revise such Annual Caps for the two years ending 31 December 2010 and to set the new Annual Cap for the year ending 31 December 2011 as follows: 2009 2010 2011 RMB RMB RMB The existing Annual Caps 91,400,000 91,400,000 — The new Annual Caps 200,000,000 250,000,000 250,000,000 In determining the revised and the new Annual Caps, the Directors of the Company have taken into account the latest development plan, the estimated site formation and construction works progress on the Land and the quality, capability and the scope of services that can be provided by Yida Group as compared with other contractors of similar rank. The total amount paid or payable by Richcoast Group to Yida Group for the Construction Services for the six months ended 30 June 2009 is approximately RMB27.11 million. Richcoast Group is in discussion with Yida Group on several material agreements in relation to Construction Services and it is anticipated that the total annual amount payable by the Richcoast Group for the Continuing Connected Transactions will exceed the existing Annual Caps for the two years ending 31 December 2009 and 31 December 2010. Under the current planning, the Group will expedite the progress on the development of Xxxxxx Xxxxxx • Software Hub. The Directors are of the view that, in terms of the strength, expertise and experience of Yida Group in large-scale integrated project development and based on the Group’s smooth and close working experience with Yida Group in the past, Yida is one of the few competent contractors which has adequate capacity and strong local experience to cope with the Group’s expedited development in Dalian.
