CANTEEN OUTSOURCING SERVICE CONTRACT Sample Clauses
CANTEEN OUTSOURCING SERVICE CONTRACT. The principal terms of the Canteen Outsourcing Service Contract are set out below:
(1) The Company; and
(2) Xinglu Property Management. staff canteen with the necessary special technical and service personnel to carry out labor services. The service fee under the Canteen Outsourcing Service Contract shall be RMB0.384 million per annum (tax inclusive), which includes staff salaries and benefits, administrative expenses, equipment maintenance expenses and taxes, and shall be paid by the Company on a monthly basis. Xinglu Property Management warrants that the aforementioned service fee is not more than that it charges any other Independent Third Parties for services of similar nature.
CANTEEN OUTSOURCING SERVICE CONTRACT. On 16 August 2024 (after trading hours), the Company entered into a canteen business outsourcing service contract (the “Canteen Outsourcing Service Contract”) (collectively with the Property Service Contract, the “Service Contracts”) with Xinglu Property Management, pursuant to which, Xinglu Property Management agreed to provide the Company with canteen management services (including the provision of special technical and service personnel required for the catering of the Group’s canteens to carry out labor services) for a term of one year. As at the date of this announcement, Xinglu Property Management is a wholly owned subsidiary of Xinglu Assets, the Controlling Shareholder of the Company. Accordingly, Xinglu Property Management is a connected person of the Company as defined under Chapter 14A of the Listing Rules and the transactions contemplated under the Service Contracts constitute continuing connected transactions of the Company. Pursuant to Rules 14.07 and 14A.81 of the Listing Rules, as the applicable percentage ratios (other than the profits ratio) in respect of the transactions contemplated under the Service Contracts are more than 0.1% but less than 5% calculated based on the historical aggregate transaction amount in the past 12 months, the transactions contemplated under the Service Contracts are subject to the reporting and announcement requirements but exempt from the circular and independent shareholders’ approval requirements under Chapter 14A of the Listing Rules.