Purchase Agency definition
Examples of Purchase Agency in a sentence
Therefore, Zouping Power is a connected person of the Company under Chapter 14A of the Listing Rules and the transactions contemplated under the Electricity Purchase Agency Agreement constitute continuing connected transactions of the Company.
As the highest of the applicable percentage ratios (as defined under Rule 14.07 of the Listing Rules) in respect of the Prepaid Electricity Charge Annual Caps under the Electricity Purchase Agency Agreement exceeds 25% but less than 100%, the Electricity Purchase Agency Agreement and the transactions contemplated thereunder constitute a major transaction of the Company under Chapter 14 of the Listing Rules, which are subject to the reporting, announcement, circular and Shareholders’ approval requirements.
The Group has established a series of internal control measures in order to ensure that the terms of the transactions under the Electricity Purchase Agency Agreement are fair and reasonable and conducted on normal commercial terms so as to ensure that they serve the interest of the Group and the shareholders as a whole.
Purchase Agency Agreement of 12 February 1999 between GE Capital Services (EEF) Limited, Cantor ▇▇▇▇▇▇▇▇▇▇ International and Cantor ▇▇▇▇▇▇▇▇▇▇ ▇.▇..
The Company will also disclose relevant details of the Electricity Purchase Agency Agreement in its next published annual report and accounts in accordance with the relevant requirements as set out in Rule 14A.49 of the Listing Rules.
An independent board committee comprising all the independent non-executive Directors (who have no material interest in the Electricity Purchase Agency Agreement) will be formed to advise the Independent Shareholders on (i) the Electricity Purchase Agency Agreement and the transactions contemplated thereunder; and (ii) the Electricity Purchase Annual Caps and the Prepaid Electricity Charge Annual Caps.
On 21 August 2020 (after trading hours of the Stock Exchange), the Electricity Purchase Agency Agreement was entered into between Zouping Power (a connected person of the Company) and Xiwang Metal (a wholly-owned subsidiary of the Company), pursuant to which, Xiwang Metal contracted Zouping Power to provide agency services in relation to the Electricity Purchase from Binzhou Power through Zouping Power.
The proposal in respect of the entry into the Electricity Purchase Agency Agreement was approved at the Board meeting held by the Company.
Purchase Agency Agreement of 12 February 1999 between GE Capital Services (EEF) Limited, Cantor Fitzgerald International and Cantor Fitzgerald L.P..
Save as disclosed above, none of the Directors have a material interest in the transactions under the Electricity Purchase Agency Agreement.