REPORT OF THE DIRECTORS (CONTINUED)
CONNECTED TRANSACTIONS (Continued)
Continuing Connected Transactions (Continued)
Connected Persons
Date
4.
30 October 2015
HREAL
5.
30 October 2015
6.
Heng Tat Construction Company Limited
("Heng Tat"), a wholly-owned subsidiary of HLD
30 October 2015 HPAL
Transactions
TCS Project Management Agreement between Jet Legend Limited ("JLL"), a wholly-owned subsidiary of the Company and HREAL for the appointment of HREAL as the project manager, for the development of 208 Tung Chau Street, Sham Shui Po, Kowloon, Hong Kong (the "TCS Property") for a term of three years commencing from 2
November 2015.
The aggregate remuneration for the services to be provided by HREAL shall be subject to a total annual ceiling of HK$4,100,000 for the year ended 31 December 2016.
Details of the TCS Project Management Agreement were set out in the announcement of the Company dated 30 October 2015.
TCS Prime Cost Contract between JLL and Heng Tat, for the appointment of Heng Tat as the main contractor for the development of the TCS Property for a term of three years. commencing from 2 November 2015.
The aggregate of the prime costs of all works carried out by Heng Tat itself or by any connected persons (as defined in the Listing Rules) of the Company together with the 5% fee shall be subject to a total annual ceiling of HK$19,990,000 for the year ended 31 December
2016.
Details of the TCS Prime Cost Contract were set out in the announcement of the Company dated 30 October 2015.
TCS Sales Management Agreement between JLL and HPAL for the
appointment of HPAL as the sales manager for the development of the TCS Property for a term of three years commencing from the date of the first initial sale of any residential units of the Proposed TCS Development.
The sales fee of half of one per cent. (0.5%) of the gross proceeds of sale of the residential units and other portions of the TCS Property shall be subject to the ceiling of HK$2,000,000 for the year ended 31 December 2016.
Details of the TCS Sales Management Agreement were set out in the announcement of the Company dated 30 October 2015.
22
Hong Kong Ferry (Holdings) Company Limited Annual Report 2016