SERVICES FRAMEWORK AGREEMENT. Reference is made to the 2021 Announcement in relation to, inter alia, the 2022 CMPG Servies Framework Agreement. On 18 December 2023, in view of the expiry of the 2022 CMPG Services Framework Agreement on 31 December 2023, CMPG and the Company entered into the 2024 CMPG Services Framework Agreement for a term of three years commencing on 1 January 2024 and ending on 31 December 2026 to set out the framework for future transactions in relation to
SERVICES FRAMEWORK AGREEMENT. As China Datang directly held approximately 78.96% of the issued share capital of the Company as at the date of this announcement, it is a controlling shareholder of the Company. Datang Capital is a wholly-owned subsidiary of China Datang. Pursuant to Chapter 14A of the Listing Rules, Datang Capital is therefore a connected person of the Company. Accordingly, the Renewed Financial Services Framework Agreement and the transactions thereunder constitute continuing connected transactions of the Company under the Listing Rules. Given that one or more of the relevant percentage ratios (as defined in Rule 14.07 of the Listing Rules) of the transactions (including financial leasing service and commercial factoring service) calculated with reference to the relevant proposed annual caps under the Renewed Financial Services Framework Agreement are more than 5%, the Renewed Financial Services Framework Agreement, the transactions contemplated thereunder and the proposed annual caps thereunder are subject to the reporting, announcement and Independent Shareholders’ approval requirements under Chapter 14A of the Listing Rules. Further, given that one or more of the relevant percentage ratios (as defined in Rule 14.07 of the Listing Rules) of the transactions (including commercial factoring service, financial leasing service and entrusted loan service) calculated with reference to the relevant proposed annual caps under the Renewed Financial Services Framework Agreement exceed 25% but less than 100%, the transactions contemplated under the Renewed Financial Services Framework Agreement constitute a major transaction of the Company under Chapter 14 of the Listing Rules. Regarding the Other FSFA Financial Services to be provided by Datang Capital to the Group, each of the percentage ratio(s) is below the de minimis threshold set out in Rule 14A.76 of the Listing Rules, therefore the provision of the Other FSFA Financial Services by Datang Capital to the Group is exempt from the reporting, announcement and Independent Shareholders’ approval requirements of the Listing Rules. The Company will comply with the reporting, announcement and Independent Shareholders’ approval requirements of the Listing Rules, where applicable, if the transaction amount of the Other FSFA Financial Services to be provided by Datang Capital to the Group under the Renewed Financial Services Framework Agreement exceeds the de minimis threshold stipulated in Rule 14A.76 of the Listing Rules. Xx. Xx Xx...
SERVICES FRAMEWORK AGREEMENT. Date: 28 April 2017 Parties: The Company and the Finance Company Term: Subject to the approval from the Independent Shareholders being obtained at the EGM, the 2018 Financial Service Framework Agreement shall be for a term of three years commencing from 1 January 2018 and ending 31 December 2020.
SERVICES FRAMEWORK AGREEMENT. Date: 3 December 2021 Parties: i. The Company; and
SERVICES FRAMEWORK AGREEMENT. On 24 December 2021, in view of the expiry of the 2019 Sinotrans Services Framework Agreement on 31 December 2021, Sinotrans & CSC and the Company entered into the 2022 Sinotrans Services Framework Agreement for a term of three years commencing on 1 January 2022 and ending on 31 December 2024. For the purpose of Rule 14A.53 of the Listing Rules, on 24 December 2021, the Directors resolved to set the annual caps in respect of the service fees for port-related services receivable by the Group from Sinotrans & CSC and its associates for each of the three years ending 31 December 2022, 2023 and 2024 as RMB26 million (equivalent to approximately HK$31.71 million), RMB34 million (equivalent to approximately HK$41.46 million) and RMB45 million (equivalent to approximately HK$54.88 million). Since the applicable percentage ratios set out in Rule 14.07 of the Listing Rules in respect of the annual caps for the service fees receivable for port-related services exceed 0.1% but are below 5%, these transactions are exempt from the circular (including independent financial advice) and shareholders’ approval requirements under Chapter 14A of the Listing Rules. In respect of the service fees for agency services payable by the Group to Sinotrans & CSC and its associates for each of the three years ending 31 December 2022, 2023 and 2024, the applicable percentage ratios set out in Rule 14.07 of the Listing Rules are less than 0.1% and therefore, these transactions constitute de minimis continuing connected transactions pursuant to Rule 14A.76(1) of the Listing Rules and are fully exempt from the shareholders’ approval, annual review and all disclosure requirements under Chapter 14A of the Listing Rules.
SERVICES FRAMEWORK AGREEMENT. On 4 September 2024 (after trading hours), CNTIC as the supplier and the Company as the purchaser entered into the EPC Services Framework Agreement, pursuant to which, subject to the EPC Proposed Caps and the transactions contemplated under the EPC Services Framework Agreement having been approved by the Independent Shareholders by way of poll at the EGM in compliance with the Listing Rules, and at the request of the Company (by itself or on behalf of members of the Group), CNTIC (for itself or on behalf of the other members of the CNTIC Group) agreed to provide, and the Company (for itself and on behalf of the Group) has agreed to procure the EPC Services from time to time. ETS SUPPLY FRAMEWORK AGREEMENT Reference is made to the announcement of the Company dated 23 May 2024 in relation to, among other things, the Gen-sets Supply Framework Agreement entered into between VH and CNTIC for the supply of the gen-sets by VH to CNTIC for the twelve months ending 22 May 2025. For the better management of the transactions between the Group and CNTIC Group and in view of the CNTIC’s demand for procurement of equipment and related accessories and technical services in relation to its engineering project business, on 4 September 2024 (after trading hours), CNTIC (as purchaser), the Company (as supplier) and VH (as former supplier) entered into the ETS Supply Framework Agreement, pursuant to which (i) subject to the ETS Proposed Caps and the transactions contemplated under the ETS Supply Framework Agreement having been approved by the Independent Shareholders by way of poll at the EGM in compliance with the Listing Rules, the Company (for itself and on behalf of the Group) may provide the Equipment and Technical Services to the CNTIC Group from time to time; and (ii) VH and CNTIC agreed to terminate the Gen-sets Supply Framework Agreement on the Date of Shareholders’ Approval for ETS. LISTING RULES IMPLICATIONS As at the date of this announcement, as CNTIC is the controlling Shareholder and CNTIC Capital is a 95% owned subsidiary of CNTIC, and therefore an associate of CNTIC under Rule 14A.13(1) of the Listing Rules, both CNTIC and CNTIC Capital are connected persons of the Company under the Listing Rules. As such, the transactions contemplated under the Equipment Purchase Agreement constitute connected transactions under Chapter 14A of the Listing Rules and the transactions contemplated under and the Equipment Lease Framework Agreement, the EPC Services Framework Agr...
SERVICES FRAMEWORK AGREEMENT. Principal terms
SERVICES FRAMEWORK AGREEMENT. Pursuant to the Services Framework Agreement, the Company will and will procure that other members of the Enlarged Group will provide certain services to the Parent Company and its subsidiaries.
SERVICES FRAMEWORK AGREEMENT. REVISION OF ANNUAL CAP
SERVICES FRAMEWORK AGREEMENT. The 2022 Services Framework Agreement was entered into between Xxxxxxx Xxxxxxxxxxx and Xx. Xxxx Xxxxxxxx (as attorney for and on behalf of Xx. Xxxx) on 28 October 2021 (after trading hours) in relation to provision of certain property related services to Xx. Xxxx’x Associated Companies (including the Seazen Group), for a term of one year from 1 January 2022 to 31 December 2022 subject to the Annual Cap. The principal terms of the 2022 Services Framework Agreement are set out below: