Berthing Services definition
Examples of Berthing Services in a sentence
Since the applicable percentage ratios set out in Rule 14.07 of the Listing Rules in respect of the annual cap for the ship berthing fees payable under the 2016 Ship Berthing Services Agreement for the year ending 31 December 2016 exceed 0.1% but are below 5%, it is exempt from the circular (including independent financial advice) and shareholders’ approval requirements under Chapter 14A of the Listing Rules.
None of the Directors have a material interest in the Lease Agreements and the 2012 Ship Berthing Services Agreement, nor are they required to abstain from voting in the relevant board resolutions.
Accordingly, ▇▇▇ ▇▇▇▇ is a connected person of the Company and the transactions contemplated under the 2022 Ship Berthing Services Agreement constitute a continuing connected transaction of the Company.
For the purpose of Rule 14A.35(2) of the Listing Rules, the cap in respect of the fees to be paid by CMCS to ▇▇▇ ▇▇▇▇ for the ship berthing services under the 2011 Ship Berthing Services Agreement for the year ending 31 December 2011 is HK$6,000,000.
Pursuant to the 2021 Ship Berthing Services Agreement, ▇▇▇ ▇▇▇▇ agreed to provide barges for bringing ships into and from the Tsing Yi Terminal.
None of the Directors have a material interest in the 2022 Ship Berthing Services Agreement, the 2022 CMPG Services Framework Agreement, the 2022 Sinotrans Services Framework Agreement, the 2022 CMHIT Comprehensive Services Framework Agreement, the 2022 Djibouti Cooperation Agreement, the 2022 Mawan Smart Port Technology Services Agreements and the Haixing IT System Framework Agreement nor are they required to abstain from voting in the relevant board resolutions.
For the purpose of Rule 14A.53 of the Listing Rules, on 17 December 2020, the Directors resolved to set the annual cap in respect of the aggregate ship berthing fees payable under the 2021 Ship Berthing Services Agreement for the year ending 31 December 2021 at HK$14,500,000, which is the same as the annual cap for the 2020 Ship Berthing Services Agreement.
Since 2002, the Group has continuously received ship berthing services from ▇▇▇ ▇▇▇▇ through a number of successive ship berthing services agreements entered into between CMCS and ▇▇▇ ▇▇▇▇ to govern the provision of berthing services by ▇▇▇ ▇▇▇▇ to CMCS, including most recently the 2021 Ship Berthing Services Agreement.
Since the applicable percentage ratios set out in Rule 14.07 of the Listing Rules in respect of the transactions contemplated under the lease agreements (as disclosed above) as aggregated and in respect of the transaction contemplated under the 2012 Ship Berthing Services Agreement are below 5%, these transactions are therefore exempt from the independent shareholders’ approval requirement.
Accordingly, the transaction contemplated under the 2012 Ship Berthing Services Agreement also constitutes a continuing connected transaction for the Company under the Listing Rules.