REASONS FOR ENTERING INTO THE FRAMEWORK AGREEMENT Sample Clauses
The 'Reasons for Entering into the Framework Agreement' clause defines the underlying motivations and objectives that led the parties to formalize their relationship through the agreement. This section typically outlines the mutual benefits anticipated, such as streamlining procurement processes, establishing consistent terms for future transactions, or fostering a long-term partnership. By clearly stating these reasons, the clause ensures that both parties have a shared understanding of the agreement's purpose, which can help prevent misunderstandings and provide context for interpreting the contract's provisions.
REASONS FOR ENTERING INTO THE FRAMEWORK AGREEMENT. The Group is principally engaged in the retail of cosmetics and consumer goods, whereas Bonjour Technology mainly provides information technology support services for the Group’s online retail business. The Directors believe that the Framework Agreement can fully explore and utilize the superior resources of Bonjour Technology and China Mobile Hong Kong in their respective fields and improve the application level of products and services. The online eCommerce platform “HKMal（l 香港貓）” of Bonjour will leverage on the technological strengths of China Mobile Hong Kong and collaborate on resources to help small and medium enterprises and merchants in Hong Kong to open up sales channels in the Greater Bay Area and other cities in the Mainland. The Potential Business Cooperation can effectively improve the business performance of the Group, promote the diversification of its existing business portfolio and expand the sources of income.
REASONS FOR ENTERING INTO THE FRAMEWORK AGREEMENT. The Group is principally engaged in the businesses of manufacture and sales of wind turbines and blades, operation of wind farm, intelligent transportation systems, broadband wireless access systems and equipment, manufacture and sale of telecommunications products, and of hi-tech rare-earth permanent magnetic motors for elevators as well as investment in businesses of automotive components parts. By entering into the Framework Agreement, IM Turbine Manufacture will obtain its requisite supply of wind turbine blades with state-of-the-art composite materials of glass fabrics for manufacture and sales of its wind turbines as to 900KW and 2MW. The purchases and sales of wind turbine blades contemplated under the Framework Agreement are to be of a recurrent revenue nature that they will occur on a regular and continuing basis in the ordinary and usual course of businesses of the two subsidiaries. The Framework Agreement provides a framework for the supplies of wind turbine blades which are being made by IM Composite Material from time to time on a non-exclusive basis and regulates the future possible business relationship between the two subsidiaries in relation to supply of wind turbine blades. The Directors (excluding the independent non-executive Directors whose view will be given after taking into account the advice from the Independent Financial Adviser) are of the view that the terms of the purchases and sales of wind turbine blades under the Framework Agreement are fair and reasonable, and that the transactions are on normal commercial terms in the ordinary and usual course of businesses of the subsidiaries and in the interests of the subsidiaries and the Company’s Shareholders as a whole, and that it is beneficial to IM Turbine Manufacture to enter into the transactions. 29 December 2009 1. IM New Energy;
REASONS FOR ENTERING INTO THE FRAMEWORK AGREEMENT. Given the Group has successfully ventured into the car parking business, the Board considers that the cooperation with Nanjing Huitong through the Possible Investment will enable the Group to strengthen the operation and further expand its car parking business, thereby enhancing the profitability of the Group’s business as a whole. In view of the above, the Directors consider that entering into the Framework Agreement is in the interests of the Company and its shareholders as a whole. Hong Kong, 24 July 2017
REASONS FOR ENTERING INTO THE FRAMEWORK AGREEMENT. The Group is principally engaged in the businesses of manufacture and sales of wind turbines and blades, energy storage related products, operation of wind farm, broadband wireless access systems and equipment, manufacture and sale of telecommunications products, and of hi-tech rare-earth permanent magnetic motors for elevators as well as investment in businesses of automotive components parts. The entering into of the Framework Agreement represents a step for the Group to expand its principal business of energy storage in development of the tremendous market of new energy vehicles in Beijing, Tianjin and Hebei.
REASONS FOR ENTERING INTO THE FRAMEWORK AGREEMENT. The Group is primarily engaged in the provision of integrated healthcare marketing solutions, contract research organization services and internet hospital services. With its strong capabilities in management and innovation and the abundant resources of top-notch experts and associations in the medical industry, the Group provides medical services and chronic disease patient management services for the medical society, physicians and patients.
REASONS FOR ENTERING INTO THE FRAMEWORK AGREEMENT. The Group is principally engaged in businesses which include rural financial services, trading in agricultural means of production, urbanisation planning, operating and management, and the development, production and sale of IT products in the financial sector. The Company is of the view that the cooperation with Dalian Exchange will further enhance the usage and development of the Agripay system and could help the Company to realize its objectives of developing the agricultural finance sector. Having considered the above, the Directors are of the view that the Possible Cooperation is in the interests of the Company and the shareholders of the Company (the “Shareholders”) as a whole.
REASONS FOR ENTERING INTO THE FRAMEWORK AGREEMENT. Houyi Brand represents itself as having sales channels for marketing of products. The Group operates the e-commerce business through its subsidiaries and can have synergy with the sales channels of Houyi Brand. The proposed joint venture company can provide sales channels and sales strategy to market the products of the Group’s clients.
REASONS FOR ENTERING INTO THE FRAMEWORK AGREEMENT. The Jinda Land has been left vacant after the Group’s Shenzhen manufacturing plant was relocated to Ningbo in late 2012 and since then, the Group has considered various options in connection with the Jinda Land including, among others, offer for sale and further development in accordance with the relevant laws and regulations. As at the date of this announcement, there is no immediate plan to develop the Jinda Land. Recently, the Group has been in contact with various PRC property developers who expressed interest in purchasing the Jinda Land. Taking into account the gain that will be recorded as a result of the disposal of the Jinda Land, the Board considers that the Proposed Relocation Compensation Arrangement under the Framework Agreement represents a very good opportunity for the Group to realise its investment in the Jinda Land. Further, the proceeds generated from the Proposed Relocation Compensation Arrangement can strengthen the cash flow of the Group and will allow the Group to reallocate its resources for future development. Based on the aforesaid, the Directors consider the terms of the Framework Agreement are in the interests of the Company and the Shareholders as a whole.
REASONS FOR ENTERING INTO THE FRAMEWORK AGREEMENT. The CRH Group, together with its fellow subsidiaries, has five business areas, including consumer products, healthcare, energy services, urban construction and operation, technology and finance. Given its wide scope of business, the CRH Group owns a significant amount of real properties including commercial and retail premises and offices in the PRC and Hong Kong. To accommodate the business needs of the Group, the Company continuously and actively considers different means to control the Group’s operating costs in order to maintain the Group’s competitiveness. Due to the relationship between the Group and the CRH Group and the proximity of offices of the Group and the CRH Group, the Directors (including the independent non- executive Directors) considered that it would be commercially beneficial for the Company to enter into the Framework Agreement. The Directors (including the independent non-executive Directors) considered that terms of the Framework Agreement and the transactions contemplated thereunder, including the proposed annual caps, are fair and reasonable; and the Framework Agreement and the transactions contemplated thereunder are on normal commercial terms or better, in the ordinary and usual course of business of the Group and in the interests of the Group and its shareholders as a whole. As none of the Directors has any material interest in the Framework Agreement and the transactions contemplated thereunder, no Directors were required to abstain from voting on the relevant Board resolutions passed. In addition to compliance with the requirements on annual review by external auditors and independent non-executive Directors under the Listing Rules in respect of the Group’s continuing connected transactions, the Company has set up relevant departments in charge of internal control and risk management to perform internal review and control over the continuing connected transactions of the Company, including reviewing contracts signed between the Company and connected persons, reviewing the performance of procedures prior to signing of contracts as well as the fulfilment of transactions thereunder, regularly inspecting the specific terms of the Company’s transactions with connected persons and comparing it with the terms of the same type of transactions of the Company entered into with third parties who are not connected persons, to ensure that the pricing and other contract terms for the Group’s continuing connected transactions are on normal ...
REASONS FOR ENTERING INTO THE FRAMEWORK AGREEMENT. The Group has been proactively identifying potential investment opportunities for building a stronger business foundation, broadening its source of income and improving its overall financial results. The challenges associated with increasing demand for energy, sustainable development and the increased environmental concern have led the PRC government to pay greater attention to environmental protection and energy issues. As the urban standard of living in China continues to improve and the economy continues to grow, the volume of municipal waste will increase steadily. Encompassing the characteristics of energy-saving and environmental friendly power generation as well as new energy power generation, garbage incineration-power generation is a dominant way for garbage treatment that captures an enormous market with vast prospects, delivers good social efficiency and provides stable cash flow. Accordingly, with substantial support and great attention from the state and local governments, subsidies and preferential tax treatments and stable on-grid tariffs, the Company believes that garbage power generation projects have promising growth prospects with growth potential in terms of scale and stability in terms of revenue. Under the full support of its parent company which enjoys competitive advantages and after making ample consideration, the Company will enter the environmental protection industry, and secure and explore platforms of suitable business opportunities in the fields of garbage incineration-power generation and waste treatment in the future. Therefore, the Board believes that through the Possible Acquisition, the Group will be able to establish business capability in participating in this renewable energy power generation business sector and capitalise on the business opportunities in this sector. The Possible Acquisition, if materialises, may constitute a notifiable transaction of the Company which is subject to the applicable requirements under the Listing Rules, which may include obtaining the approval from the Shareholders at a general meeting.