Examples of Framework Agreement in a sentence
As one or more of the applicable percentage ratios calculated under Rule 14.07 of the Listing Rules in respect of the annual cap for the transactions contemplated under the Power Supply Framework Agreement exceed 0.1% but are less than 5%, the transactions contemplated under the Power Supply Framework Agreement are subject to the reporting and announcement requirements but exempt from the independent shareholders’ approval requirement under Chapter 14A of the Listing Rules.
Accordingly, the transactions under the Power Supply Framework Agreement constitute continuing connected transactions of the Company under Chapter 14A of the Listing Rules.
Having considered the foregoing, all Directors of the Company (including the independent non-executive Directors) consider that the transactions under the Power Supply Framework Agreement are on normal commercial terms or better and in the ordinary and usual course of business of the Group, and the terms of the Power Supply Framework Agreement are fair and reasonable and in the interests of the Company and its shareholders as a whole.
The Directors consider that the transactions contemplated under the Power Supply Framework Agreement will enable the Group to increase the power generation hours and utilization rate of its power plants, which will in turn maximize the plants’ turnover and enhance profitability and help improve the plants’ operating efficiency.
As such, Xxxxxx Xxxxxx is a connected person of the Company and the transactions contemplated under the Master Property Engineering Framework Agreement and the Master Property Management Framework Agreement constitute continuing connected transactions of the Company under Chapter 14A of the Listing Rules.