PASSENGER AND CARGO SALES AND GROUND SERVICES FRAMEWORK AGREEMENT. As the Passenger and Cargo Sales Agency Services Framework Agreement shall soon expire by the end of 2016 and the transactions contemplated thereunder would continue to be entered into on a recurring basis between the parties, on 16 December 2016 (after trading hours), the Company and GSC have entered into a new Passenger and Cargo Sales and Ground Services Framework Agreement to revise and renew the continuing connected transactions contemplated therein for a fixed term of three years commencing from 1 January 2017 to 31 December 2019. Subject Matter Pursuant to the Passenger and Cargo Sales and Ground Services Framework Agreement, GSC agrees to provide certain services to the Group charging the agency fee and service fee, and the Company also agrees to lease certain assets such as vehicles and equipment together with working space to GSC charging the lease fee. GSC agrees to provide the following services to the Group:
PASSENGER AND CARGO SALES AND GROUND SERVICES FRAMEWORK AGREEMENT. Subject Matter
PASSENGER AND CARGO SALES AND GROUND SERVICES FRAMEWORK AGREEMENT. In order to comply with the various requirements under Chapter 14A of the Listing Rules in respect of continuing connected transactions of the Company, on 16 December 2016 (after trading hours), the Company (i) have renewed the Property and Land Lease Framework Agreement with CSAHC for a term of three years commencing from 1 January 2017 to 31 December 2019; (ii) have entered into the Supplemental Agreement with GSC to revise the annual cap for the year ending 31 December 2016 under the Passenger and Cargo Sales Agency Services Framework Agreement; and (iii) have renewed the Passenger and Cargo Sales And Ground Services Framework Agreement with GSC for a term of three years commencing from 1 January 2017 to 31 December 2019. As the applicable percentage ratios (other than the profits ratio) for each of the Continuing Connected Transaction Agreements are on an annual basis exceeding 0.1% and less than 5%, the transactions contemplated under each of the Continuing Connected Transaction Agreements are only subject to the reporting, announcement and annual review requirements and are exempt from the shareholders’ approval requirement under the Listing Rules. In order to comply with the various requirements under Chapter 14A of the Listing Rules in respect of continuing connected transactions of the Company, the Company revised and renewed several continuing connected transactions. Details of the same are set out below:
