Examples of Equipment Sales in a sentence
Since the applicable percentage ratios set out in Rule 14.07 of the Listing Rules in respect of the transactions contemplated under the Equipment Sales Agreements 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.
The Directors, including the independent non-executive Directors, consider that the Equipment Sales Agreements will enable the Group to further develop Hambantota International Port and maintain the Group’s sustainable growth.
The consideration payable by HIPG under the Equipment Sales Agreements was determined between the parties on an arm’s length basis with reference to type, specifications, quantity of equipment under the Equipment Sales Agreements and prevailing market price of similar equipment sold by Independent Third Parties vendors or by DTBP and DCT to other Independent Third Parties.
As the Equipment Sales (4 Quay Cranes and 8 Yard Cranes) Agreement and the Equipment Sales (5 Yard Cranes) Agreement are of a similar nature or otherwise connected, these transactions will need to be aggregated as if they are one transaction.
None of the Directors have a material interest in the Qianhai Bay Garden Lease Agreements, the Equipment Modification Agreements, the Equipment Sales Agreements, nor are they required to abstain from voting in the relevant Board resolutions.
On 27 September 2024, HIPG entered into the Equipment Sales (4 Quay Cranes and 8 Yard Cranes) Agreement and the Equipment Sales (5 Yard Cranes) Agreement with DTBP and DCT respectively.
Accordingly, DTBP, DCT and DUKP are connected persons of the Company and the transactions contemplated under both the Equipment Sales (4 Quay Cranes and 8 Yard Cranes) Agreement and the Equipment Sales (5 Yard Cranes) Agreement constitute connected transactions of the Company under the Listing Rules.
HIPG shall accept the delivery of equipment on site at the Container Terminal Dayaowan Port in “as is” condition on the date of signing of the Equipment Sales (5 Yard Cranes) Agreement.
Delivery HIPG shall accept the delivery of equipment on site at the Taiping Bay Port Container Terminal in “as is” condition on the date of the signing of the Equipment Sales (4 Quay Cranes and 8 Yard Cranes) Agreement.