Common Contracts
1 similar Framework Sale and Purchase Agreement contracts
THE FRAMEWORK SALE AND PURCHASE AGREEMENTFramework Sale and Purchase Agreement • October 15th, 2022
As market demands for well completion products, production enhancement products and drilling products offered by the Group are expected to grow in the foreseeable future, the Board envisages that the Existing Annual Caps in respect of the transactions contemplated under the Framework Sale and Purchase Agreement for each of the three financial years ending 31 December 2022, 2023 and 2024 will not be sufficient, and that the purchase amount of the abovementioned products by the PRC Subsidiaries from the Petro-king Huizhou Group for the financial year ending 31 December 2022 may soon exceed the Existing Annual Cap in 2022. As such, on 12 October 2022 (after trading hours), the PRC Subsidiaries entered into the Supplemental Framework Agreement with the Petro-king Huizhou Group, to increase the Existing Annual Caps for the three financial years ending 31 December 2022, 2023 and 2024.
