Technological and Calibration and Testing Services Agreement. On 16 December 2019, YTO, on behalf of YTO Group, as the purchaser, and the Company, on behalf of the Group, as the supplier, entered into the Technological and Calibration and Testing Services Agreement, pursuant to which the Group has agreed to provide the Technological Services and Calibration Services to YTO Group. As at the date of this announcement, YTO beneficially owns approximately 41.66% equity interest in the Company and is the immediate controlling shareholder of the Company. Accordingly, YTO is a connected person of the Company and the transactions contemplated under the Technological and Calibration and Testing Services Agreement constitute continuing connected transactions of the Company under the Listing Rules.
Technological and Calibration and Testing Services Agreement. INTRODUCTION On 16 December 2019, YTO, on behalf of YTO Group, as the purchaser, and the Company, on behalf of the Group, as the supplier, entered into the Technological and Calibration and Testing Services Agreement, pursuant to which the Group agreed to provide the Technological Services and Calibration Services to YTO Group. THE TECHNOLOGICAL AND CALIBRATION AND TESTING SERVICES AGREEMENT Details of the principal terms of the Technological and Calibration and Testing Services Agreement and its proposed Annual Cap amount are set out below: Date 16 December 2019 Parties
Technological and Calibration and Testing Services Agreement. In order to ensure that the transactions under the Technological and Calibration and Testing Services Agreement meet the pricing terms as agreed in the Technological and Calibration and Testing Services Agreement, the Company has established the following internal control measures, which are implemented and monitored by the finance department, the office of the Board, and the audit and legal department of the Company:
Technological and Calibration and Testing Services Agreement. The businesses of the Group cover the provision of Technological and Calibration and Testing Services for YTO. Provision of such services by the Company to YTO Group will help the Company to give full play to its technological advantages in respect of process research and development and improve the utilization of relevant resources, which is in the interests of the Company and its Shareholders as a whole. The terms of the Technological and Calibration and Testing Services Agreement were determined after arm’s length negotiations between the parties thereto. The Directors (including the independent non-executive Directors) consider that the terms of the Technological and Calibration and Testing Services Agreement are on normal commercial terms and in the ordinary and usual course of business of the Group, fair and reasonable and in the interests of the Group and the Shareholders.
Technological and Calibration and Testing Services Agreement. As at the date of this announcement, YTO beneficially owns approximately 41.66% equity interest in the Company and is the immediate controlling shareholder of the Company. Accordingly, YTO is a connected person of the Company and the transactions contemplated under the Technological and Calibration and Testing Services Agreement constitute continuing connected transactions of the Company under the Listing Rules. As the applicable percentage ratios for the Technological and Calibration and Testing Services Agreement are more than 0.1% but less than 5%, the provision of services under the Technological and Calibration and Testing Services Agreement is subject to the reporting and announcement requirements but is exempt from the independent shareholders’ approval requirement pursuant to Chapter 14A of the Listing Rules. The Technological and Calibration and Testing Services Agreement and the transactions contemplated under the Technological and Calibration and Testing Services Agreement have been approved by the Board. Xx Xxxxxx, Xxx Xxxx, Xx Xxxxxx, Xxx Xxxxxxxx and Xxxx Xxxxxxx, all being Directors, have abstained from voting at the Board meeting, as they are connected to YTO and are regarded as being unqualified to make any independent recommendation to the Board.
