Examples of Continuing Connected Transactions in a sentence
Accordingly, the Company has made an application to the Stock Exchange for accepting the joint written shareholders’ approval from CPI Holding and CPDL in lieu of holding a physical shareholders’ meeting for the approval of the Coal Supply Framework Agreement, the Continuing Connected Transactions and the Proposed Annual Caps.
A circular containing, among other things, (i) further details of the Coal Supply Framework Agreement, the Continuing Connected Transactions and the Proposed Annual Caps; (ii) a letter from the independent financial advisor containing its advice to the Independent Board Committee and the Shareholders; and (iii) the recommendation of the Independent Board Committee to the Shareholders is expected to be dispatched by the Company to the Shareholders on or before 7 June 2013.
As the applicable percentage ratios as defined under Chapter 14 of the Listing Rules in respect of the Proposed Annual Caps of the Continuing Connected Transactions are more than 5%, they constitute non-exempt continuing connected transactions which are subject to the announcement, reporting and independent shareholders’ approval requirements under Chapter 14A of the Listing Rules.
The Company has obtained a joint written shareholders’ approval in accordance with Rule 14A.43 of the Listing Rules from CPI Holding and CPDL, which held 1,532,827,927 and 1,996,500,000 shares of the Company respectively (together representing approximately 62.80% of the total issued share capital of the Company as at the date of this announcement), approving the Coal Supply Framework Agreement, the Continuing Connected Transactions and the Proposed Annual Caps.
An Independent Board Committee comprising all the independent non-executive Directors will be established to advise the Shareholders and an independent financial advisor will be appointed to advise the Independent Board Committee and the Shareholders in relation to the Coal Supply Framework Agreement, the Continuing Connected Transactions and the Proposed Annual Caps.