RENEWAL OF EXISTING CONTINUING CONNECTED TRANSACTIONS. Reference is made to the Company’s announcements dated 31 March 2021, 3 November 2021 and 31 March 2022, respectively, and the Company’s circular dated 21 May 2021, in respect of, inter alia, certain Continuing Connected Transactions of the Company where the existing annual caps for such Continuing Connected Transactions were set. Each of the 2023 CNHTC CCT Agreements and the 2023 MTB Parts Sales Agreement is due to expire on 31 December 2023.
RENEWAL OF EXISTING CONTINUING CONNECTED TRANSACTIONS. Reference is made to the announcements of the Company dated 22 January 2019 and 30 December 2019 in relation to certain continuing connected transactions between the Group and its connected person, Xxxxxx Xxxxxxx. On 29 December 2020 (after trading hours), Xxxxxx Xxxxxxxxx and Xxxxxx Xxxxxxx entered into the 2020 Ningbo Port Loading, Discharging and Storage Agreement (Renewed). Ningbo Port Loading, Discharging and Storage Agreement and 2019 Ningbo Port Loading, Discharging and Storage Agreement (Renewed) On 22 January 2019, Xxxxxx Xxxxxxxxx and Xxxxxx Xxxxxxx entered into the Ningbo Port Loading, Discharging and Storage Agreement pursuant to which Ningbo Zhenhai agreed to provide Ningbo Ningxiang with loading, discharging and storage services at the terminal in Ningbo for the period from 22 January 2019 to 31 December 2019. On 30 December 2019, Xxxxxx Xxxxxxxxx and Xxxxxx Xxxxxxx entered into the 2019 Ningbo Port Loading, Discharging and Storage Agreement (Renewed) pursuant to which Xxxxxx Xxxxxxx agreed to provide Ningbo Ningxiang with loading, discharging and storage services at the terminal in Ningbo for the period from 1 January 2020 to 31 December 2020. 2020 Ningbo Port Loading, Discharging and Storage Agreement (Renewed) On 29 December 2020 (after trading hours), Xxxxxx Xxxxxxxxx and Xxxxxx Xxxxxxx entered into the 2020 Ningbo Port Loading, Discharging and Storage Agreement (Renewed), pursuant to which Ningbo Zhenhai agreed to provide Ningbo Ningxiang with loading, discharging and storage services at the terminal in Ningbo. The term of the 2020 Ningbo Port Loading, Discharging and Storage Agreement (Renewed) is for the period from 1 January 2021 to 31 December 2021. Ningbo Port is a substantial shareholder of Xxxxxx Xxxxxxxxx and Xxxxxx Xxxxxxxx, owning 40% equity interests in Ningbo Ningxiang and Xxxxxx Xxxxxxxx. Each of Ningbo Ningxiang and Ningbo Xinxiang is deemed to be a subsidiary of the Company under the Listing Rules by virtue of being a subsidiary undertaking as defined in schedule 1 to the Companies Ordinance (Cap 622). Ningbo Port, being a substantial shareholder of subsidiaries of the Company, is considered as a connected person of the Company under the Listing Rules. Xxxxxx Xxxxxxx, being a branch company of Ningbo Port, is also considered as a connected person of the Company under the Listing Rules. The principal business of Ningbo Zhenhai includes the development, operation and management of terminal; loading and discharging, storage, ...
RENEWAL OF EXISTING CONTINUING CONNECTED TRANSACTIONS. Reference is made to the announcements of the Company dated 3 December 2012, 16 July 2013, 27 October 2014 and 25 January 2016 (the “Announcements”) in relation to certain continuing connected transactions between the Group and certain connected persons of the Company. On 28 December 2018 (after trading hours), the Company entered into the 2018 Ningbo Storage Agreement (Renewed). Ningbo Storage Agreement and 2016 Ningbo Storage Agreement (Renewed) On 3 December 2012, Xxxxxx Xxxxxxxxx and Ningbo FTZ Dragon Crown entered into the Ningbo Storage Agreement, pursuant to which Ningbo Ningxiang agreed to provide Ningbo FTZ Dragon Crown with terminal and storage services at the Group’s terminal in Ningbo for the three years ended 31 December 2015. On 25 January 2016, Xxxxxx Xxxxxxxxx and Ningbo FTZ Dragon Crown entered into the 2016 Ningbo Storage Agreement (Renewed), pursuant to which Ningbo Ningxiang agreed to provide Ningbo FTZ Dragon Crown with terminal and storage services at the Group’s terminal in Ningbo for the period of three years from 1 January 2016 to 31 December 2018. 2018 Ningbo Storage Agreement (Renewed) On 28 December 2018 (after trading hours), Xxxxxx Xxxxxxxxx and Ningbo FTZ Dragon Crown entered into the 2018 Ningbo Storage Agreement (Renewed), pursuant to which Ningbo Ningxiang agreed to provide Ningbo FTZ Dragon Crown with terminal and storage services at the Group’s terminal in Ningbo. The term of the 2018 Ningbo Storage Agreement (Renewed) is for the period of three years from 1 January 2019 to 31 December 2021. Ningbo FTZ Dragon Crown is a wholly-owned subsidiary of DC Investments which in turn is owned as to 98% by Xx. Xx, a Director and a Controlling Shareholder and as to 2% by Xx. Xxxxx Xxx Xxxx, a Director. It is principally engaged in trading of chemicals. According to the Listing Rules, Ningbo FTZ Dragon Crown is an associate of Xx. Xx and thus a connected person. As Ningbo FTZ Dragon Crown is a connected person of the Company, the transactions contemplated under the 2018 Ningbo Storage Agreement (Renewed) will constitute continuing connected transactions of the Company under Rule 14A.31 of the Listing Rules. As each of Xx. Xx and Xx. Xxxxx Xxx Xxxx has an indirect and material interest in the proposed transaction, they have abstained from voting on the relevant board resolutions approving the 2018 Ningbo Storage Agreement (Renewed) and the transactions contemplated thereunder. The fees payable by Ningbo FTZ Dragon Crown to the Group ...
RENEWAL OF EXISTING CONTINUING CONNECTED TRANSACTIONS. Reference is made to the prospectus of the Company dated December 6, 2021 in respect of the 2021 CCT Agreements. As the term of each of the 2021 CCT Agreements is due to expire on December 31, 2023, the Company had on October 17, 2023 (after trading hours), entered into the 2023 Property Leasing and Administrative Services Framework Agreement and the 2023 Game Cooperation Framework Agreement to continue the transactions contemplated thereunder, respectively.
