OPINION OF THE BOARD. In view of the above reasons and benefits and given the Parking Space Agency Framework Agreement (Phase II) and the transactions contemplated thereunder (including the Annual Caps) are conducted in the ordinary and usual course of business of the Company and on normal commercial terms or better, the Board is of the view that the Parking Space Agency Framework Agreement (Phase II) and the transactions contemplated thereunder (including the Annual Caps) are fair and reasonable and in the interests of the Company and the Shareholders as a whole. None of the Directors has any material interest in the transactions contemplated under the Parking Space Agency Framework Agreement (Phase II). Considering that Xx. Xxxxx Xxx is the secretary of the board and the officer of the board of directors of Poly Developments and Holdings, Xx. Xxx Xxxx is the chairman and a director of Poly Developments and Holdings and Xx. Xx Xxxxxx is a director and the deputy secretary of the party committee of Poly Developments and Holdings, all of them have abstained from voting on the Board resolution approving the Parking Space Agency Framework Agreement (Phase II).
OPINION OF THE BOARD. In light of the above reasons and benefits, on the basis that the 2024-2026 Framework Agreements and the transactions contemplated thereunder (including the annual caps) are conducted in the ordinary and usual course of business of the Company and on normal commercial terms or better, the Board (including the independent non-executive Directors) considers that the 2024-2026 Framework Agreements and the transactions contemplated thereunder (including the annual caps) are fair and reasonable and in the interests of the Company and the Shareholders as a whole.
OPINION OF THE BOARD. Having considered the nature of the transaction of the Capital Increase (including the basis of determination for the amount of the Capital Increase), and the reasons for and benefits of entering into the Capital Increase Agreement stated above, the Directors (excluding connected Directors, but including the independent non-executive Directors) are of the view that, notwithstanding that the Capital Increase is not conducted in the ordinary and usual course of business of the Company, the terms of the Capital Increase Agreement are fair and reasonable and the Capital Increase is on normal commercial terms as well as in the interests of the Company and the Shareholders as a whole. Directors Xx. Xx Xxx, Xx. Xx Xxxxxx, Xx. Xxx Xxx, Xx. Xxxx Xxxxxxxx and Xx. Xxx Xxxx, being the connected Directors by virtue of their positions in CDC Group, have abstained from voting on the relevant Board resolution in respect of considering and approving the transaction contemplated under the Capital Increase Agreement at the Board meeting. Save as disclosed above, none of the Directors has any material interest in the transaction contemplated under the Capital Increase Agreement and was required to abstain from voting on the relevant Board resolution.
OPINION OF THE BOARD. In view of the above reasons and benefits, given the transactions contemplated under the Deposit Service Framework Agreement are in the ordinary and usual course of business of the Company and are under normal commercial terms or better, the Board (including the independent non-executive Directors) are of the view that the terms of the Deposit Service Framework Agreement and the Annual Cap are fair and reasonable and are in the interests of the Company and the Shareholders as a whole. None of the Directors had any material interests in the transactions contemplated under the Deposit Service Framework Agreement and no Director was required to abstain from voting on the Board resolution approving the Deposit Service Framework Agreement.
OPINION OF THE BOARD. In view of the above reasons and benefits, given that the transaction contemplated under the Contract is conducted in the ordinary and usual course of business of the Company and is on normal commercial terms or better, the Board (including the independent non- executive Directors) is of the view that the terms of the Contract are fair and reasonable and are in the interests of the Company and the Shareholders as a whole. None of the Directors had any material interests in the transaction contemplated under the Contract. Considering that Xx. Xxxxx Xxx is the secretary of the board and officer of the board of directors of Poly Developments and Holdings, Xx. Xxx Xxxx is a director and the general manager of Poly Developments and Holdings and Xx. Xx Xxxxxx is the deputy secretary of the committee of Communist Party of China of Poly Developments and Holdings, all of them abstained from voting on the Board resolution approving the Contract.
OPINION OF THE BOARD. The Directors (including the independent non-executive Directors) are of the view that: The terms of the Property Leasing Agreement (2015) and the transaction contemplated thereunder are entered into after arm’s length negotiations in the ordinary and usual course of business based on normal commercial terms. The terms of the agreement and the annual rental are fair and reasonable and in the interests of the Company and its Shareholders as a whole. Other than Xxxxx Xx Xxxx who, as a director of Wumei Holdings, has abstained from voting in respect of the relevant Board resolutions, none of the Directors are materially interested in the Property Leasing Agreement (2015) which would otherwise require them to abstain from voting.
OPINION OF THE BOARD. Taking into account the factors mentioned above, the Directors (including the independent non-executive Directors) consider that it is in the best interests of the Company and its shareholders as a whole to enter into the Music Copyright Licensing Cooperation Framework Agreement (and the transactions contemplated thereunder) and the terms of the Music Copyright Licensing Cooperation Framework Agreement and the proposed annual caps thereunder are fair and reasonable and the transactions contemplated thereunder are on normal commercial terms and in the ordinary and usual course of business of the Company. As Xx. Xxxxx Xx, being our Director, holds senior management positions in the Tencent Group, he has therefore abstained from voting on the relevant Board resolutions approving the Music Copyright Licensing Cooperation Framework Agreement. Save as disclosed above, none of the other Directors has material interests in the transactions contemplated thereunder. As at the date of this announcement, Tencent, through its wholly-owned subsidiary, Image Flag Investment (HK) Limited held more than 10% of the total issued share capital of the Company and is one of the substantial Shareholders. As TME is a subsidiary of Tencent, the transactions contemplated under the Music Copyright Licensing Cooperation Framework Agreement constitute continuing connected transactions of the Company. As the highest applicable percentage ratio in respect of the transactions contemplated thereunder is more than 0.1%, but below 5%, the transactions contemplated are therefore subject to annual reporting and announcement requirements, but exempt from circular (including independent financial advice) and independent shareholders’ approval requirements under Chapter 14A of the Listing Rules.
OPINION OF THE BOARD. Having considered the abovementioned pricing policies and basis for determination of proposed annual caps and reasons for and benefits of the Factoring Business Cooperation Agreement, Directors (excluding connected directors but including the independent non-executive Directors) are of the view that the terms of the Factoring Business Cooperation Agreement are fair and reasonable and the transactions contemplated thereunder are conducted in the ordinary course of business of the Company on normal commercial terms and in the interests of the Company and its Shareholders as a whole. Directors Xx. Xxxx Xxxxx, Xx. Xx Xxxxxxx, Xx. Xx Xxxxxxx, Xx. Xxx Xxxxxx and Xx. Xxx Xxxxxxxxx, being the connected directors, have abstained from voting on the resolution in relation to considering and approving the transactions contemplated under the Factoring Business Cooperation Agreement and its proposed annual caps at the Board meeting of the Company. Save as disclosed above, none of the Directors has any material interest in the transactions contemplated under the Factoring Business Cooperation Agreement and its proposed annual caps.
OPINION OF THE BOARD. None of the Directors of the Company has any material interests in the transactions contemplated under the Combination Agreement and the PSA Share Repurchase Agreement, thus none of the Directors shall abstain from voting on the relevant resolutions. Taking into account the factors mentioned above, the Directors (including the independent non- executive Directors) consider that the terms of the Combination Agreement and Share Repurchase Agreement are fair and reasonable and the transactions contemplated thereunder are on normal commercial terms or better and in the ordinary and usual course of business of the Company, and it is in the best interests of the Company and its shareholders as a whole to vote in favour of the execution of the Combination Agreement and the PSA Share Repurchase Agreement and the transactions contemplated thereunder. The Directors (including the independent non-executive Directors) also consider that it is in the best interests of the Company and its shareholders as a whole to enter into the Strategic Cooperation Agreement.
OPINION OF THE BOARD. The Transactions are conducted in the ordinary and usual course of business of the Group, and the Transactions are negotiated on an arm’s length basis. The entering into of the Sale and Purchase Framework Agreement and the Transactions are in line with the business strategies of the Group, and it will be beneficial to the future development of the Group and enable the Group to fully utilise its strengths and achieve better operating results. With the internal control measures disclosed below, the terms of the Transactions are on normal commercial terms, in line with prevailing market terms and are no less favourable to the Group than the terms available to or from independent third parties. In view of the reasons and benefits set out above, the Board (including the independent non-executive Directors) considers that the Transactions are conducted in the ordinary course of business of the Group on normal commercial terms or better terms, the terms are fair and reasonable and are in the interests of the Company and the Shareholders as a whole. None of the Directors has any material interest in the Transactions. Having considered that Xx. Xx Xxxxxx, Xx. Xx Xxxxxxxx, Xx. Xxxx Xxxxxxx, Xx. Xxxxx Xxx, Mr. Xxx Xxxxxxx and Xx. Xx Xxxxxxx, the non-executive Directors, were nominated by Jingcheng Machinery Electric and serve as senior management of Jingcheng Machinery Electric and/or its subsidiaries (other than the Group), Xx. Xx Xxxxxx, Xx. Xx Xxxxxxxx, Xx. Xxxx Xxxxxxx, Xx. Xxxxx Xxx, Mr. Xxx Xxxxxxx and Xx. Xx Xxxxxxx have abstained from voting on the Board resolution in relation to the approval of the Product Sale and Purchase Framework Agreement and the Transactions.
