Reasons for the Packaging Paper Supply Agreement Sample Clauses

Reasons for the Packaging Paper Supply Agreement. The Group has been selling packaging paperboard products in its ordinary course of business to Dongguan Longteng since 2006. As the existing agreement with Dongguan Longteng for the supply of paperboard products is due to expire on 30 June 2023, the Packaging Paper Supply Agreement is entered into to facilitate the continuous sale of the packaging paperboard products to Dongguan Longteng. As the Packaging Paper Supply Agreement is entered into in the usual and ordinary course of business of the Company and the terms have been negotiated on an arm’s length basis and on normal commercial terms, the Directors, including the independent non-executive Directors but excluding the Interested Directors who have abstained from voting for the resolution to approve the Packaging Paper Supply Agreement, consider that the transactions between the Company and Dongguan Longteng and the proposed annual caps for the transactions under the Packaging Paper Supply Agreement are fair and reasonable and in the interest of the Company and the Shareholders as a whole.
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Related to Reasons for the Packaging Paper Supply Agreement

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