Examples of BCAC in a sentence
Hence, BCAC is a connected person of the Company under Chapter 14A of the Listing Rules.
Consideration and Payment The maintenance fee payable by the Company to BCAC for the provision of regular inspection and maintenance services is RMB2,500,000 which is determined according to the costs to be incurred and reasonable level of profit to be made by BCAC for the provision of such service and by arm’s length negotiation between the parties with reference to the historical transaction amount.
The fee payable by the Company to BCAC for the provision of emergency inspection and maintenance services is calculated according to the costs to be incurred and reasonable level of profit to be made by BCAC for the provision of such service basing on arm’s length negotiation between the parties taking into account the fee standard for provision of similar services in the market.
Pursuant to the Airfield Lights and Cable Maintenance Agreement, BCAC agreed to provide regular and emergency inspection and maintenance services on the lights and cable in the airfield area of the Beijing Airport.
BCAC possesses ample experience and appropriate qualification and expertise in the provision of inspection and maintenance services on the lights and cable in airport area.
The maintenance fee for the provision of regular and emergency inspection and maintenance services is payable by the Company to BCAC on a quarterly basis.
The engagement of BCAC for the provision of inspection and maintenance services on the lights and cable in the airfield area of the Beijing Airport during this transitional period can help to ensure the safety and reliability of the operation of lights and cable in the Beijing Airport.
AIRFIELD LIGHTS AND CABLE MAINTENANCE AGREEMENT The Board announces that on 16 September 2013, the Company and BCAC entered into the Airfield Lights and Cable Maintenance Agreement in relation to the maintenance of lights and cable in the airfield area of the Beijing Airport for a term commencing from 1 July 2013 to 30 November 2013.
Further, BCAC has provided satisfactory inspection and maintenance services to the Company in the past few years.
The engagement of BCAC for the provision of maintenance services under the Airfield Lights and Cable Maintenance Agreement is therefore a transitional arrangement, pending for the implementation of the new arrangement.