Proposed Annual Cap. The proposed annual cap for the transactions under the Power Supply Framework Agreement for the year ending 31 December 2017 is expected to be RMB1,200 million (equivalent to approximately HK$1,368 million). The proposed annual cap for the transactions under the Power Supply Framework Agreement has been determined after arm’s length negotiation with reference to
Proposed Annual Cap. It is estimated that the maximum aggregate amount of servicing fees payable by SIFS to the service provider under the Master Services Agreement will not exceed the Annual Caps set out below. Financial year ending 2011 Maximum annual value of HK$2,000,000 Financial year ending 2012 Maximum annual value of HK$2,750,000 Financial year ending 2013 Maximum annual value of HK$3,200,000 The Annual Caps are calculated based on the historial amounts and the agreed scope of services to be provided to SIFS, the increasing rental fees for offices in Hong Kong and taking into account the possible office space which may be taken up by SIFS in offices presently occupied by the Group in the PRC. The Group is engaged in providing financial services in Hong Kong and making proprietary investments, including investments in various listed and unlisted assets for short to medium term capital gains. Kingsway Services and Billion On are, primarily engaging in the provision of management services to the Group. SIFS is primarily engaged in private equity investment and the provision of administration services to the SWH Group (excluding the Company). Kingsway Services and Billion On have been providing the Services to SIFS on an annual basis under an arrangement between the parties. As service fee payable under the prior arrangement did not exceed 5% under the applicable percentage ratio and total consideration was less than HK1,000,000, it was exempt from all reporting, announcement and independent shareholders’ approval requirements. Given the increase in lease costs on the Premises and staff costs payable by Kingsway Services and Billion On, the Master Services Agreement has been entered into to record the increased Service Fee. SIFS is an indirect wholly-owned subsidiary of SWH, the ultimate controlling shareholder of the Company. In the circumstances, SIFS is a connected person of the Company and the transactions contemplated under the Master Services Agreement constitute a continuing connected transaction for the Company under the Listing Rules. Given that the annual amount of the service fee payable under the Master Services Agreement is expected to be more than 0.1% but less than 5% under the applicable percentage ratio, the Master Services Agreement is subject to the reporting and announcement requirements but is exempt from the independent shareholders’ approval requirement under the Listing Rules.
Proposed Annual Cap. The proposed annual cap for the continuing connected transactions under the 2020 Supplemental Trademark Licence Agreement is RMB10,000,000 for each of 2021, 2022 and 2022.
Proposed Annual Cap. The proposed annual cap for the transactions contemplated under the Framework Lease Agreement for the year ending 31 December 2023 is RMB65,400,000 (equivalent to HK$73,248,000). The proposed annual cap is determined after taking into account (i) the 2022 Theoretical Annualized Rents; (ii) the expected Related Property Service Fees that are payable by the Subsidiary Lessees to Lessor (in its capacity as lessor/service provider) relating to the use of the leased properties in 2023;
Proposed Annual Cap. The proposed annual cap for the transactions contemplated under the 2023 Electricity Supply Agreement for the year ending 31 December 2023 and 31 December 2024 are as follows: Proposed annual cap 65,000,000 65,000,000 The annual caps for the 2023 Electricity Supply Agreement as set out above are determined with reference to (i) the average tariffs and the historical consumption by Baikai Wrap Knitting for the period between January 2022 and November 2022; (ii) the estimation of the electricity to be consumed by Baikai Wrap Knitting during the term of the 2023 Electricity Supply Agreement; and (iii) the current government prescribed unit price for electricity.
Proposed Annual Cap. The proposed annual cap under the Procurement Framework Agreement for the year ending 31 December 2016 is set out below:
Proposed Annual Cap. The annual cap for the Brand License Agreement from July 31, 2023 to December 31, 2023 is US$3.0 million. The estimated annual cap for the Brand License Agreement for the year ending December 31, 2024 is US$10.0 million, which was principally determined based on:
Proposed Annual Cap. The proposed annual cap of the brand promotion fees (exclusive of tax) payable by CDOT Huizhou under the Agreement for the year ending 31 December 2021 is RMB8,000,000. The Group has not entered into similar brand promotion agreement as the Agreement with TCL Technology historically. The above annual cap for the brand promotion fees under the Agreement is determined based on the maximum annual brand promotion fees payable (exclusive of tax) as stipulated under the Agreement, which has taken into account factors as set out in the paragraph headed “Pricing policy and basis of price determination” in the section “Brand Promotion Agreement” above.
Proposed Annual Cap. The proposed annual cap of the rental amount payable by the Group under the New Framework Property Lease Agreement for each of the years ending 31 December 2017 and 2018 is NTD5,814,610. Such annual cap is determined by the Company based on the expected floor areas to be leased from CTV and the rental rates with reference to the market rental rates for the Premises as at 14 December 2016 as recommended by independent professional valuers. The Board, including the independent non-executive Directors, considers that the terms of the New Framework Property Lease Agreement have been negotiated and arrived at on arm’s length basis and on normal commercial terms, and that such terms are fair and reasonable and are in the interests of the Company and its Shareholders as a whole and that the New Framework Property Lease Agreement was entered into in the ordinary and usual course of the Company’s business, and the proposed annual cap is fair and reasonable.
Proposed Annual Cap. The proposed annual cap for the transactions contemplated under the Sales Framework Agreement for the period from 22 September 2022 to 31 December 2022 is HK$74,000,000. The proposed annual cap set out above is determined based on the following factors which are applicable to the Sales Framework Agreement:
