Examples of Samoa Group in a sentence
The Group has been purchasing tea leaves from Samoa Group as part of the ordinary and usual course of business.
The processing services provided by Samoa Group to the Group involve reprocessing the blended and aged tea leaves so as to enhance their quality.
Samoa Group, same as other suppliers of tea leaves, is under the bidding process, or procedures for obtaining quotations, to supply tea leaves to the Company and the Company confirmed that there is no any actual circumstance under which the supply of tea leaves to the Company by Samoa Group is not under bidding process, or procedures for obtaining quotations.
The processing service fee of RMB16.5 per kilogram under the Renewed Samoa Master Processing Agreement was agreed between the Group and Samoa Group after arm’s length negotiation and based on the market price charged by independent third parties for provision of similar services.
Reference is made to the Prospectus, the announcement of the Company dated 22 March 2012, the circular of the Company dated 12 April 2012 and the poll result announcement of the Company dated 27 April 2012 in respect of the continuing connected transactions under the Samoa Master Purchase Agreement in relation to the purchases of tea leaves from Samoa Group for the three years ending on 31 December 2013.
The Group has been purchasing tea leaves from Samoa Group as part of the ordinary and usual course of business, although the tea leaves can be easily sourced from other independent third parties even if there is no supply from Samoa Group, as the Company maintains a database of over four hundred independent third parties suppliers which the Group had purchased tea leaves historically.
As the 2016 Samoa Master Processing Agreement will expire on 31 December 2019, the Company has entered into the Renewed Samoa Master Processing Agreement with Samoa Company to renew the provision of processing services by Samoa Group for a period of three years commencing on 1 January 2020 to 31 December 2022.
On 11 December 2013, the Company entered into the Renewed Samoa Master Purchase Agreement with Samoa Company, pursuant to which the Company agreed to purchase or procure members of the Group to purchase tea leaves from Samoa Group for a period of three years commencing on 1 January 2014 to 31 December 2016, subject to the new annual cap not exceeding RMB70,000,000, RMB77,000,000 and RMB84,700,000 for the three years ending 31 December 2016, respectively.
On 11 December 2013, the Company entered into the Renewed Samoa Master Processing Agreement with Samoa Company, pursuant to which Samoa Group agreed to provide processing services to enhance the quality of tea leaves for a period of three years commencing on 1 January 2014 to 31 December 2016, subject to the new annual cap not exceeding RMB4,950,000, RMB5,445,000 and RMB5,989,500 for the three years ending 31 December 2016, respectively.
As Samoa Group is wholly owned by Xx. Xxx Xxxx Xxxx, a substantial shareholder and a Director, the entering into of the Renewed Samoa Master Processing Agreement and the transactions contemplated thereunder constitute continuing connected transactions for the Company under Chapter 14A of the Listing Rules.