PROPERTY MANAGEMENT FRAMEWORK AGREEMENT. Reference is made to the announcement of the Company dated 19 December 2017 where the Company announced that the Company and CSAGPMC entered into the Existing Property Management Framework Agreement. As the Existing Property Management Framework Agreement shall expire soon and the transactions contemplated thereunder will continue to be entered into on a recurring basis, the Company has entered into the new Property Management Framework Agreement with CSAGPMC on 21 December 2020 (after trading hours) for a term of three years from 1 January 2021 to 31 December 2023 to renew the property management and maintenance transactions originally covered under the Existing Property Management Framework Agreement and to enter into property management and maintenance transactions in relation to additional properties of the Company.
PROPERTY MANAGEMENT FRAMEWORK AGREEMENT. References are made to the announcements of the Company dated 28 December 2012, 11 January 2013 and 31 December 2013 as regards the New Airport Property Management Framework Agreement and the Old Airport Property Management Framework Agreement and the revision of the annual caps under the above-mentioned agreements. As the New Airport Property Management Framework Agreement and the Old Airport Property Management Framework Agreement shall expire soon and the transactions contemplated under the above-mentioned agreements will continue to be entered into on a recurring basis. In compliance with Rule 14A.54 of the Listing Rules, the Company has entered into the new Property Management Framework Agreement with CSAGPMC on 29 December 2014 (after trading hours) to renew the property management transactions originally covered under the New Airport Property Management Framework Agreement and the Old Airport Property Management Framework Agreement for a term of three years from 1 January 2015 to 31 December 2017. Subject Matter Pursuant to the Property Management Framework Agreement, the Company has renewed the appointment of CSAGPMC for the provision of property management and maintenance services for the Company's properties at the old Baiyun Airport and the new Baiyun International Airport and surrounding in Guangzhou, the Company's leased properties in the airport terminal at New Baiyun International Airport, the base and the 110KV transformer substation at the new Baiyun International Airport to ensure the ideal working conditions of the Company's production and office facilities and physical environment, and the normal operation of equipment. In addition, CSAGPMC has also been appointed for the provision of the property management and maintenance services for the power transformation and distribution equipment at Guangzhou cargo terminal, and the provision of the electricity charge agency services to the Group, which is newly added services to be provided by CSAGPMC to the Group. The management and maintenance services fee shall be determined at an arm's length basis between both parties and according to the market prices, which shall be determined with the consultation by the Company in the property management market, taking into account the location, areas and types of the properties of the Company at the new Baiyun Airport and old Baiyun International Airport. The management and maintenance services fee charged should not be higher than the one charged by ...
