Examples of CCT Agreements in a sentence
Pursuant to the New CCT Agreements, the Group shall engage in products procurement in respect of health supplements, commodities and food with the connected parties.
As the applicable percentage ratios in respect of the transactions contemplated under each of the CCT Agreements and the Supplemental Agreement are on an annual basis more than 0.1% but less than 5%, such transactions are subject to the reporting, annual review and announcement requirements, but exempt from the independent shareholders’ approval requirement under the Listing Rules.
As certain subsidiaries of the Group have been using the properties historically, the Directors are of the view that it is in the interest of the Group in terms of cost, time and stability to enter into the above Renewed CCT Agreements instead of finding and relocating to alternative properties.
Therefore, TPG, TPL and TPR are connected persons of the Company under the Listing Rules and the transactions contemplated under the CCT Agreements constitute continuing connected transactions of the Company.
According to the Hong Kong Listing Rules, an Independent Board Committee has been established to consider and advise the Independent Shareholders in respect of the Non-exempt CCT Agreements.