Smart Port definition
Examples of Smart Port in a sentence
However, as each 2022 Mawan Smart Port Technology Services Agreement entered into with Chiwan Container Terminal, Chiwan Port Container and Mawan Port are of similar nature or otherwise connected, these transactions will need to be aggregated as if they are one transaction.
Since the applicable percentage ratios set out in Rule 14.07 of the Listing Rules in respect of the annual cap for the services fees receivable by Shekou Container Terminal from Haixing under the respective 2022 Mawan Smart Port Technology Services Agreement for the year ending 31 December 2021 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.
For the purpose of Rule 14A.53 of the Listing Rules, on 24 December 2021, the Directors resolved to set the annual caps in respect of the service fees payable by Haixing to each of Chiwan Container Terminal, Chiwan Port Container and Mawan Port under each of the respective 2022 Mawan Smart Port Technology Services Agreement.
The applicable percentage ratios set out in Rule 14.07 of the Listing Rules in respect of each 2022 Mawan Smart Port Technology Services Agreement, on a standalone basis, are less than 0.1% and therefore, these transactions, on a standalone basis, constitute de minimis continuing connected transactions pursuant to Rule 14A.76(1) of the Listing Rules and are fully exempt from the shareholders’ approval, annual review and all disclosure requirements under Chapter 14A of the Listing Rules.
Since the applicable percentage ratios set out in Rule 14.07 of the Listing Rules in respect of the annual cap for the aggregate services fees payable by Haixing to Chiwan Container Terminal, Chiwan Port Container and Mawan Port under the 2022 Mawan Smart Port Technology Services Agreements for the year ending 31 December 2021 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.
Accordingly, the transaction contemplated under the 2022 Mawan Smart Port Technology Services Agreements constitutes a continuing connected transaction of the Company under Chapter 14A of the Listing Rules.
The Directors, including the independent non-executive Directors, are of the view that the 2022 Mawan Smart Port Technology Services Agreement was entered into on normal commercial terms and in the ordinary and usual course of business of the Company.
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 23 December 2021, the Directors resolved to set the annual caps in respect of the service fees receivable by Shekou Container Terminal from Haixing under the respective 2022 Mawan Smart Port Technology Services Agreement as RMB10,811,300 (equivalent to approximately HK$13,184,512) for the year ending 31 December 2021 and RMB3,602,200 (equivalent to approximately HK$4,392,927) for the year ending 31 December 2022.
AFSCME shall provide COB with a list of AFSCME members eligible for the payment within thirty (30) calendar days of the final execution of this Agreement.