REPORT OF THE DIRECTORS (CONTINUED)
CONNECTED TRANSACTIONS
Pursuant to the transactions and arrangements entered into by the Group with persons who are connected persons for the purposes of the Listing Rules, the Group recorded the transactions as described in note 28 to the financial statements.
Continuing Connected Transactions
For the year ended 31 December 2018 and up to the date of this Annual Report, the Company and/or its subsidiaries have been entered into certain continuing connected transactions, with details below, which were subject to reporting and announcement requirements but are exempt from the independent shareholders' approval requirement under Chapter 14A of the Listing Rules:
Date
Connected Persons
Transactions
1. 30 October 2015
2. 30 October 2015
Henderson Real Estate
Agency Limited (“HREAL”), a wholly-owned subsidiary of Henderson Land Development Company Limited ("HLD")
Heng Tat Construction Company Limited ("Heng Tat"), a wholly-owned subsidiary of HLD
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" or the "Proposed TCS Development") 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$1,500,000 for the year ended 31 December 2018.
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 of the Proposed TCS Development 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 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$970,000 for the year ended 31 December
2018.
Details of the TCS Prime Cost Contract were set out in the announcement of the Company dated 30 October 2015.
Hong Kong Ferry (Holdings) Company Limited
23
Annual Report 2018
Page 25Page 26
24