Examples of General Lease Agreement in a sentence
Accordingly, the transactions under the General Lease Agreement and the Equipment Purchase Agreement constitute continuing connected transactions of the Company under the Listing Rules.
The relevant percentage ratios under the Listing Rules for each of the General Lease Agreement and the Equipment Purchase Agreement are individually, on an annual basis, more than 0.1% but less than 5%.
Accordingly, each of the General Lease Agreement and the Equipment Purchase Agreement, pursuant to Rule 14A.34 of the Listing Rules, are only subject to the reporting and announcement requirements but exempt from the independent shareholders’ approval requirements under Chapter 14A of the Listing Rules.
The General Lease Agreement was entered into with a view for the Group to take advantage of the strategic location of the accommodation and catering facilities of XLX Chem which is located near the Group’s production factories.
On 21 August 2013, the General Lease Agreement was entered into between Henan XLX and XLX Chem, pursuant to which XLX Chem has agreed to lease certain living quarters with an aggregate area of 138,134.89 square meters located at XLX Chem West Courtyard Living quarters, Xiaoji Town, Xinxiang City, Henan, China (中國河南新鄉市小冀鎮心連心化工西院生活區) to Henan XLX.
Save and except for Xx. Xxx Xxxxxx, Xx. Xxx Xxxxxx and Xx. Xx Xxxxx who had abstained from voting on the board resolutions in relation to the General Lease Agreement and the Equipment Purchase Agreement, no other director of the Company has a material interest in the General Lease Agreement and the Equipment Purchase Agreement or is required to abstain from voting at the board meetings of the Company.
The directors of the Company (including the independent non-executive directors of the Company) are of the view that the terms of the General Lease Agreement and the Equipment Purchase Agreement are fair and reasonable and in the interests of the shareholders of the Company as a whole.
The General Lease Agreement will provide the Group’s staff with convenient residential facilities and reduce time required for daily work commute.
The General Lease Agreement has a term of three years commencing with effect from 19 August 2013 up to and including 18 August 2016.
The monthly lease under the General Lease Agreement is RMB186,600 which shall be settled by payment in cash by Henan XLX prior to the 28th day of each calendar month using the Group’s internal financial resources.