2016 — Page 25

REPORT OF THE DIRECTORS (CONTINUED)

CONNECTED TRANSACTIONS (Continued)

Continuing Connected Transactions (Continued)

Connected Persons

Date

7.

30 October 2015

HPAL and Miramar

Transactions

Letter Agreement between JLL and HPAL to lease portions of Shops 501-502 and 503A-C, 5th Floor, Miramar Shopping Centre, 132 Nathan Road, Tsimshatsui, Kowloon, Hong Kong (the "Premises") for use as show flats and sales office for the sale of the residential units

of the TCS Property for the period from 5 November 2015 to the completion date (the earlier of 4 January 2017 and the date on which the last residential unit in the TCS Property to be sold is sold). JLL was the principal and HPAL acted as agent of JLL under the Miramar/ HPAL Agreement, as disclosed in the announcement of Miramar dated 10 July 2014.

The aggregate rents, fees and other charges (exclusive of Government rates) to HPAL shall be subject to a total annual ceiling

of HK$3,600,000 for the period from 1 January 2016 to 4 January

2017.

6 January 2017

HPAL and Miramar

Details of the Letter Agreement were set out in the announcement of the Company dated 30 October 2015. The Letter Agreement expired on 4 January 2017.

Second Letter Agreement between JLL and HPAL to lease the

Premises for the continuation of use as show flats and sales office

for the sale of the residential units of the TCS Property for the period from 5 January 2017 to the completion date (the earlier of 4 May

2017 and the date on which the last residential unit in the TCS

Property to be sold is sold). JLL was the principal and HPAL acted as agent of JLL under the Miramar/HPAL Agreement, as disclosed in the announcement of Miramar dated 10 July 2014.

The aggregate rents, fees and other charges (exclusive of Government rates) to HPAL under the Second Letter Agreement for the period from 5 January 2017 to 4 May 2017 shall be a maximum

of HK$1,700,000.

Details of the Second Letter Agreement were set out in the announcement of the Company dated 6 January 2017.

Hong Kong Ferry (Holdings) Company Limited

Annual Report 2016

23

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