Background of Property Leasing Framework Agreement. In the course of ordinary business of the Group, the Group have leased certain properties from the Everbright Group and its associates for the Group’s offices and business uses. The Everbright Group and its associates have also leased certain properties from the Group mainly for their business operations. Reference is made to the announcement of the Company dated August 28, 2018, which disclosed that the Company and the Everbright Group entered into a property leasing framework agreement (the “2018 Everbright Group Property Leasing Framework Agreement”) for a term of three years commencing from January 1, 2019 to December 31, 2021. Taking into account the expiry of the 2018 Property Leasing Framework Agreement on December 31, 2021, the Company proposes to renew the property leasing framework agreement between the Company and the Everbright Group (the “2021 Everbright Group Property Leasing Framework Agreement”) on the basis of the 2018 Property Leasing Framework Agreement for a term of three years commencing from January 1, 2022 to December 31, 2024.
Background of Property Leasing Framework Agreement. In the course of ordinary business of the Group, the Group have leased certain properties from the Everbright Group and its associates for the Group’s offices and business uses. The Everbright Group and its associates have also leased certain properties from the Group mainly for their business operations. To comply with the requirements of the Hong Kong Listing Rules, the Company and the Everbright Group entered into a property leasing framework agreement (the “2016 Everbright Group Property Leasing Framework Agreement”) in August 2016 prior to the listing of H Shares on the Hong Kong Stock Exchange. The 2016 Everbright Group Property Leasing Framework Agreement shall be valid until December 31, 2018. The Company expects that the Group will continue to lease certain properties from the Everbright Group and its associates, and the Everbright Group and its associates will also continue to lease certain properties from the Group. In view of this and taking in to account the expiry of the 2016 Everbright Group Property Leasing Framework Agreement on December 31, 2018, the Company proposes to renew the property leasing framework agreement between the Company and the Everbright Group on the basis of the 2016 Everbright Group Property Leasing Framework Agreement (the “New Everbright Group Property Leasing Framework Agreement”) for a term of three years commencing from January 1, 2019 to December 31, 2021.
