Examples of CCT Agreements in a sentence
In view of the connected relationship between Xx. Xxx Xxx, the chairman of the Board and a non- executive Director, and Xxxxxx Xxxxxx, Xx. Xxx Xxx has abstained from voting on the relevant board resolutions approving the CCT Agreements and the proposed annual caps thereunder.
The renewal of the CCT Agreements will therefore give the Group flexibility to purchase the raw materials it requires from Suzhou Hengli or sell its products to Suzhou Hengli if it so wishes at competitive market prices.
Accordingly, the Directors (excluding Xx. Xxx Xxx and the independent non-executive Directors) consider that the terms of each of the CCT Agreements (including the proposed annual caps) are fair and reasonable and the entering into of each of the CCT Agreements is in the interests of the Company and the Shareholders as a whole.
In compliance with Chapter 14A of the Listing Rules, the respective annual caps under the CCT Agreements are aggregated for the purpose of calculating the percentage ratios.
In view of the interests of Xx. Xxx Xxx in the CCT Agreements, Kingever and its associates will abstain from voting on the resolutions in relation to the CCT Agreements and the proposed annual caps thereunder at the EGM.