Examples of EPC Contract in a sentence
The Board is pleased to announce that on 3 April 2024 (after trading hours), Jingbu, a non wholly-owned subsidiary of the Company, as the principal, entered into the EPC Contract with the Consortium, as the contractors.
The contract price under the EPC Contract was determined by the parties after arm’s length negotiation and through a tendering selection process.
Pursuant to the EPC Contract, the Consortium will provide EPC services to Jingbu for the construction of the EPC Project.
A circular containing, among other things, (i) further details of the EPC Contract; (ii) the notice of SGM; and (iii) other information as required under the Listing Rules, is expected to be despatched to the Shareholders on or before 31 May 2024 as the Company needs more time to prepare and finalize information to be included in the circular.
LISTING RULES IMPLICATIONS As the highest applicable percentage ratio in respect of the EPC Contract exceeds 25% but is less than 100%, the EPC Contract constitutes a major transaction of the Company and is therefore subject to the reporting, announcement, circular and the Shareholders’ approval requirements under Chapter 14 of the Listing Rules.