REASONS FOR AND BENEFITS OF ENTERING INTO THE NEW FINANCE LEASE FRAMEWORK AGREEMENT Sample Clauses

REASONS FOR AND BENEFITS OF ENTERING INTO THE NEW FINANCE LEASE FRAMEWORK AGREEMENT. The transactions contemplated under the New Finance Lease Framework Agreement are beneficial to the Group in expanding leasing channel, lowering investment risks and reducing financial pressure. Through tailor-made finance lease services solution provided to the Group, it can effectively increase the mobility of the assets of the Group and optimise its asset structure. The Directors (including the independent non-executive Directors but excluding the Connected Directors) consider that the terms of the New Finance Lease Framework Agreement are fair and reasonable and in the interest of the Company and the Shareholders as a whole. The Directors (excluding the Connected Directors) are further of the view that the transactions contemplated under the New Finance Lease Framework Agreement are beneficial to the reasonable allocation and full utilisation of the assets of the Group and Shenzhen Finance Leasing Group, which provides for the sharing of resources and supplement of advantages between each other and are beneficial in improving the Company’s overall efficacy. The independent non-executive Directors are of the view that the transactions contemplated under the New Finance Lease Framework Agreement can resolve the Company’s demand for funds, satisfy its needs in, among others, production equipment, and also take full advantage of the resources and business advantages of Shenzhen Finance Leasing Group to promote the production, operation and business development of the Company. The independent non-executive Directors further consider that the transactions contemplated thereunder are on normal commercial terms and in the ordinary and usual course of business of the Group. As the pricing and terms thereunder are fair and reasonable and the procedure is legal, the interests of the minority Shareholders are not prejudiced, the transactions contemplated thereunder are fair and reasonable to the Company and all the Shareholders and in the interest of the Company and the Shareholders as a whole. Save for Xx. Xxxx Xxxxxx, Xx. Xxxxx Xxxxxxx, Mr. Xxxx Xx, Xx. Xxxx Xxxxxx and Xx. Xx Xxxx who are the Connected Directors and have abstained from voting on the Board resolutions on 30 December 2019 relating to the New Finance Lease Framework Agreement, none of the Directors have a material interest in the New Finance Lease Framework Agreement or is required to abstain from voting on the Board resolutions.
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Related to REASONS FOR AND BENEFITS OF ENTERING INTO THE NEW FINANCE LEASE FRAMEWORK AGREEMENT

  • REASONS FOR AND BENEFITS OF THE TRANSACTION The New Transportation Contract has been entered into for the purpose of transportation. The Company considers that the transactions contemplated under the New Transportation Contract are for the benefit of the Company, as the services provided are required in the production process of the Group and the service provider offered a competitive price and are capable of meeting the Group’s transportation needs. The Directors (including the independent non-executive Directors) consider that the New Transportation Contract is on normal commercial terms which are fair and reasonable and the transactions contemplated under the New Transportation Contract are in the ordinary and usual course of business of the Group and in the interests of the Company and its shareholders as a whole. None of the Directors has a material interest in the transactions contemplated under the New Transportation Contract, save for Xx. Xxxxxxx Xxxxxxxxx, who is general director of JSC EuroSibEnergo, a company which is owned by En+, and deputy general director — financial director of En+; and Mr. Xxxxxxxx Xxxxxxxxxx, who is the first deputy chief executive officer for technical policy and executive officer of International limited liability company En+ Holding, and deputy CEO — executive officer of En+, being the holding company of KraMZ-Auto LLC. Mr. Xxxxxxxx Xxxxxxxxxx is also the head of technical supervision of JSC EuroSibEnergo, a company which is owned by En+. Accordingly, Xx. Xxxxxxx Xxxxxxxxx and Mr. Xxxxxxxx Xxxxxxxxxx did not vote on the Board resolution approving the New Transportation Contract.

  • REASONS FOR AND BENEFITS OF THE TRANSACTIONS Jiaogong Maintenance and Zhejiang Shunchang fully understand business and operating needs of LongLiLiLong Co, and maintain effective communication to provide more quality services to LongLiLiLong Co. Both Jiaogong Maintenance and Zhejiang Shunchang has the relevant qualifications and experience to provide the Maintenance Services to LongLiLiLong Co. In addition, LongLiLiLong Co went through a tender process and obtained the relevant quotations from other independent service providers to select the service provider of the Maintenance Services. Zhejiang Shunchang and Jiaogong Maintenance finally won the respective tenders. The transactions contemplated under the Agreements are and will be conducted in the ordinary and usual course of business of the Group, and the consideration paid by LongLiLiLong Co to Jiaogong Maintenance and Zhejiang Shunchang, respectively, will not be higher than the average market price and will not be less favourable than those provided by other independent service providers to LongLiLiLong Co for similar services. Given the above, the Directors (including the independent non-executive Directors) are of the view that the terms of the Agreements are on normal commercial terms, in the ordinary and usual course of business of the Group and are fair and reasonable and in the interests of the Company and the Shareholders as a whole. As at the date of this announcement, LongLiLiLong Co is a wholly owned subsidiary of the Company. As at the date of this announcement, Communications Group holds approximately 67% of the issued share capital of the Company. By virtue of this shareholding interest, Communications Group is a controlling shareholder (as defined under the Listing Rules) of the Company. As at the date of this announcement, each of Jiaogong Maintenance and Zhejiang Shunchang is an indirect subsidiary of Communications Group. Therefore, Zhejiang Shunchang and Jiaogong Maintenance are connected persons of the Company and as a result, the respective transactions contemplated under the Dedicated Road Maintenance Agreements constitute continuing connected transactions for the Company under Chapter 14A of the Listing Rules. Pursuant to Rule 14A.81 to Rule 14A.83 of the Listing Rules, the respective transactions contemplated under the Dedicated Road Maintenance Agreements are required to be aggregated with the respective transactions contemplated under the Previous Road Maintenance Agreements which were continuing connected transactions entered into with the same connected persons. As the applicable percentage ratios in respect of the aggregated annual cap for transactions contemplated under the Dedicated Road Maintenance Agreements and the Previous Road Maintenance Agreements are more than 0.1% but less than 5%, the transactions contemplated under the Dedicated Road Maintenance Agreements and the Previous Road Maintenance Agreements will be subject to the reporting, announcement and annual review requirements but exempt from the independent Shareholders’ approval requirement under Chapter 14A of the Listing Rules. Xx. Xx Xxxxxxx, Xx. Xxx Xxxxxxx, Xx. Xxxx Xxxxxxx and Mr. Xxx Xx, being Directors, are deemed to have material interests in the Dedicated Road Maintenance Agreements as they are also employed by the Communications Group as at the date of Board meeting on April 30, 2021 and have abstained from voting on the relevant Board resolutions. Other than those Directors mentioned above, none of the Directors have a material interest in the transactions contemplated under the Dedicated Road Maintenance Agreements, and none are required to abstain from voting on the relevant resolutions of the Board.

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