Raw Materials Procurement definition

Raw Materials Procurement the procurement of the Raw Materials by the Group from the Royale Home Group pursuant to the Master Raw Materials Procurement Agreement “RMB” Renminbi, the lawful currency of the PRC “Royale Home” Royale Home Holdings Limited, a company incorporated in the Cayman Islands with limited liability and whose Shares are listed on the Main Board of the Stock Exchange (stock code: 1198) “Royale Home Group” Royale Home and its subsidiaries “Share(s)” ordinary shares with a par value of US$0.001 each in the share capital of the Company “Shareholder(s)” holder(s) of the Shares
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Examples of Raw Materials Procurement in a sentence

  • As one or more of the applicable percentage ratios (as defined under Rule 14.07 of the Listing Rules) in respect of the annual cap for the Raw Materials Procurement exceed 0.1% but all are below 5%, the Raw Materials Procurement constitutes a continuing connected transaction for the Company and is subject to the reporting, announcement and annual review requirements but is exempt from the circular and independent shareholders’ approval requirements under Chapter 14A of the Listing Rules.

  • The Raw Materials Procurement would allow the Group with stable supply of raw materials required for the manufacturing of its products on reasonable terms which will be no less favourable to the Group than those available from independent third parties.

  • The continuing relationships are expected to bring synergies to the Group and the Royale Home Group, which is expected to benefit both parties as the terms of the Raw Materials Procurement would be on normal commercial terms and with reference to the prevailing market terms, and the Raw Materials Procurement will be conducted after arm’s length negotiations.

  • The Directors (including the independent non-executive Directors) are of the view that the Master Raw Materials Procurement Agreement and the transactions contemplated thereunder are entered into in the ordinary and usual course of business of the Group, on normal commercial terms (which were arrived at after arm’s length negotiations) and are fair and reasonable and in the interests of the Company and the Shareholders as a whole.

  • As such, the Raw Materials Procurement Services Agreement and the transactions contemplated thereunder constitute continuing connected transactions of the Company under Chapter 14A of the Listing Rules.

  • The Master Raw Materials Procurement Agreement shall be effective for a term commencing from the date of the Master Raw Materials Procurement Agreement (i.e. 9 December 2022) and ending on 31 December 2022 (both days inclusive).

  • The Board announces that on 9 December 2022, the Company has entered into the Master Raw Materials Procurement Agreement with Royale Home, pursuant to which members of the Group will purchase the Raw Materials from members of the Royale Home Group for a term commencing on the date of the Master Raw Materials Procurement Agreement (i.e. 9 December 2022) and ending on 31 December 2022.

  • Upon obtaining the quotations, the procurement department of the Group will review and compare such quotations with the prices available to the Group under the Master Raw Materials Procurement Agreement before the entering into of individual contracts pursuant to the Master Raw Materials Procurement Agreement.

  • In the event that the prices of the Raw Materials available to the Group from the Royale Home Group are less favourable to the Group than the price quotations offered by independent third party suppliers to the Group for comparable raw materials of similar quality, type and quantity, the Group will not enter into such Raw Materials Procurement.

  • The purchase price payable under the Master Raw Materials Procurement Agreement will be settled in cash or by way of bank transfer.