FINANCIAL SERVICES FRAMEWORK AGREEMENT. (i) Date
FINANCIAL SERVICES FRAMEWORK AGREEMENT. The principal terms of the Financial Services Framework Agreement are set out as follows:
FINANCIAL SERVICES FRAMEWORK AGREEMENT. On 18 December 2012, the Company and the Finance Company entered into the Financial Services Framework Agreement, the principal terms of which are set out below:
FINANCIAL SERVICES FRAMEWORK AGREEMENT. The Board hereby announces that on 26 January 2024, the Company entered into the Financial Services Framework Agreement with Shougang Finance Company in relation to the provision of the Credit Services, Deposit Services and Other Financial Services by Shougang Finance Company to the Group on a non-exclusive basis during the Term. 26 January 2024
FINANCIAL SERVICES FRAMEWORK AGREEMENT. Pursuant to the 2021 Financial Services Framework Agreement, COSCO SHIPPING shall procure COSCO SHIPPING Finance, a company controlled by COSCO SHIPPING, to provide the Group with a range of financial services. Pursuant to the 2021 Shipping Materials and Services Framework Agreement, the 2021 Sea Crew Framework Agreement and the 2021 Services Framework Agreement, the Company and COSCO SHIPPING agreed to provide each other’s group (and/or the associates of COSCO SHIPPING) with the Shipping Materials and Services, and the COSCO SHIPPING Group and/or its associates may provide the Group with the Crew Services and the Miscellaneous Services.
FINANCIAL SERVICES FRAMEWORK AGREEMENT. The Board announces that on September 28, 2021, the Company entered into the Financial Services Framework Agreement with Yili Finance Company, pursuant to which Yili Finance Company agreed to provide a range of financial services to the Group, including the Deposit Services, the Settlement Services, and the Other Financial Services, for a term commencing from September 28, 2021 to December 31, 2023. The principal terms of the Financial Services Framework Agreement are set out as follows: September 28, 2021
FINANCIAL SERVICES FRAMEWORK AGREEMENT. On 27 October 2014, the Company entered into the Financial Services Framework Agreement with CIMC Finance as service provider and CIMC as guarantor under which CIMC Finance agreed to provide various financial services to the Group for a term commencing on 27 October 2014 and expiring on 31 December 2016. The principal terms of the Financial Services Framework Agreement are set out below: Date : 27 October 2014 Parties : 1. the Company (as services user); 2. CIMC Finance (as services provider); and 3. CIMC (as guarantor) Term : 27 October 2014 to 31 December 2016 Nature of Services : Provision of financial services by CIMC Finance to members of the Group, including acceptance of deposits; provision of loans and finance leases; commercial notes acceptance and discounting; sale and purchase of spot foreign currencies; assistance to payment and receipt of transaction monies; provision of financial and financing consultation, credit reference and related consultation and agency services; provision of guarantee; arrangement of entrusted loans; settlement of internal transfers and designing related settlement and clearing scheme; underwriting corporate bonds; and other businesses as permitted by CBRC and other financial regulatory authorities. Basis of interest, fees and financial charges
(a) Interest receivable from deposits : The interest rates offered by CIMC Finance for deposits placed by the Group must not be lower than (i) the relevant benchmark interest rates set by PBOC; and (ii) the interest rates provided by other independent commercial banks in the PRC for deposits of similar nature and of similar term.
(b) Interest payable on loans : The interest rates chargeable by CIMC Finance for borrowings by the Group must not be higher than (i) the relevant benchmark interest rates set by PBOC; and (ii) the interest rates charged by other independent commercial banks in the PRC for borrowings of similar nature and of similar term.
FINANCIAL SERVICES FRAMEWORK AGREEMENT. In respect of the Deposit Services under the Financial Services Framework Agreement, as one or more of the applicable percentage ratios under the Listing Rules exceeds 5% but is less than 25%, the provision of the Deposit Services by Yili Finance Company to the Group under the Financial Services Framework Agreement constitutes a discloseable transaction of the Company and is subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules. The Deposit Services under the Financial Services Framework Agreement also constitute a continuing connected transaction of the Company and is subject to the reporting, annual review, announcement and Independent Shareholders’ approval requirements under Chapter 14A of the Listing Rules. The Settlement Services and the Other Financial Services to be provided by Yili Finance Company to the Group under the Financial Services Framework Agreement will be carried out on normal commercial terms or better and the aggregate annual fees to be paid by the Group to Yili Finance Company for each of the three years ending December 31, 2024, 2025 and 2026 are expected to fall below the de minimis threshold as stipulated under Rule 14A.76(1) of the Listing Rules. Accordingly, such transactions are fully exempt from the reporting, annual review, announcement and independent Shareholders’ approval requirements under Chapter 14A of the Listing Rules. The Board announces that on April 24, 2023, the Company renewed:
FINANCIAL SERVICES FRAMEWORK AGREEMENT. In respect of the Deposit Services under the Financial Services Framework Agreement, as one or more of the applicable percentage ratios under the Listing Rules exceeds 5% but is less than 25%, the provision of the Deposit Services by Yili Finance Company to the Group under the Financial Services Framework Agreement constitute a discloseable transaction of the Company and is subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules. The Deposit Services under the Financial Services Framework Agreement also constitute a continuing connected transaction of the Company and is subject to the reporting, annual review, announcement and Independent Shareholders’ approval requirements under Chapter 14A of the Listing Rules. The Settlement Services and the Other Financial Services to be provided by Yili Finance Company to the Group under the Financial Services Framework Agreement will be carried out on normal commercial terms or better and the aggregate annual fees to be paid by the Group to Yili Finance Company for each of the three years ending December 31, 2024, 2025 and 2026 are expected to fall below the de minimis threshold as stipulated under Rule 14A.76(1) of the Listing Rules. Accordingly, such transactions are fully exempt from the reporting, annual review, announcement and independent Shareholders’ approval requirements under Chapter 14A of the Listing Rules. Both Xx. Xxxxx Xxxxx (“Xx. Xxxxx”), the Chairman and a non-executive Director, who is an assistant to the president of Yili and a general manager of the liquid milk division of Yili, and Xx. Xx Xxx (“Xx. Xx”), a non-executive Director, who is an assistant to the president of Yili, are deemed to have a material interest in each of the Raw Milk Purchase and Sale Framework Agreement, the Dairy Products Purchase Framework Agreement and the Financial Services Framework Agreement. Therefore, Xx. Xxxxx and Xx. Xx have abstained from voting on the Board resolutions in relation to the Raw Milk Purchase and Sale Framework Agreement, the Dairy Products Purchase Framework Agreement and the Financial Services Framework Agreement. Save as disclosed above, none of the Directors had a material interest in the matters contemplated therein nor was any of them required to abstain from voting on the relevant Board resolutions approving the Raw Milk Purchase and Sale Framework Agreement, the Dairy Products Purchase Framework Agreement and the Financial Services Framework Agreement and t...
FINANCIAL SERVICES FRAMEWORK AGREEMENT. Principal terms
