sprite-preloader
Anzeige
Mehr »
Montag, 23.04.2018 Börsentäglich über 12.000 News von 574 internationalen Medien

Indizes

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Aktien

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Xetra-Orderbuch

Devisen

Kurs

%

Rohstoffe

Kurs

%

Passende Knock-Outs zu Ihrer Suchanfrage (Anzeige)
Erweiterte
Suche
lynx
Ad hoc-Mitteilungen

WKN: A0M4ZJ ISIN: CNE1000004S4 Ticker-Symbol: ZHJ 
Aktie:
Branche
Bau/Infrastruktur
Aktienmarkt
ASIEN
1-Jahres-Chart
ZHEJIANG EXPRESSWAY CO LTD Chart 1 Jahr
1-Woche-Intraday-Chart
ZHEJIANG EXPRESSWAY CO LTD 1-Woche-Intraday-Chart
RealtimeGeldBriefZeit
0,796
0,843
22:59
17.04.2018 | 14:22
(3 Leser)
Schrift ändern:
(0 Bewertungen)

PR Newswire·Mehr Nachrichten von PR Newswire

Hong Kong Stock Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

ZHEJIANG EXPRESSWAY CO., LTD.
(A joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stockcode:0576)

CONNECTEDTRANSACTION
LEDLIGHTSRETROFITAGREEMENT

THE LED LIGHTS RETROFIT AGREEMENT

On April 17, 2018, Jinhua Co, a wholly-owned subsidiary of the Company, entered into the LED Lights Retrofit Agreement with Zhejiang Information, a wholly-owned subsidiary of the controlling shareholder of the Company, pursuant to which the Company agreed to purchase LED lights retrofit services from Zhejiang Information.

LISTING RULES IMPLICATIONS

As at the date of this announcement, Communications Group is a controlling shareholder of the Company. Zhejiang Information is a wholly-owned subsidiary of Communications Group. Therefore, Zhejiang Information is a connected person of the Company and as a result, the transaction under the LED Lights Retrofit Agreement constitutes connected transaction for the Company under Chapter 14A of the Listing Rules.

Pursuant to Rules 14A.81 and 14A.82 of the Listing Rules, as the transactions contemplated under the LED Lights Retrofit Agreement and the Previous Transactions were entered into with parties who are connected with one another and within a 12-month period, the LED Lights Retrofit Agreement and the Previous Transactions are required to be aggregated for the calculation of the relevant percentage ratios to determine the classification of the transactions.

As the applicable percentage ratios in respect of the transactions contemplated under the LED Lights Retrofit Agreement, after aggregating the Previous Transactions, are more than 0.1% but less than 5%, the LED Lights Retrofit Agreement will be subject to the reporting, announcement and annual review requirements but exempt from the independent Shareholders' approval requirement under Chapter 14A of the Listing Rules.

THE LED LIGHTS RETROFIT AGREEMENT

On April 17, 2018, Jinhua Co, a wholly-owned subsidiary of the Company, entered into the LED Lights Retrofit Agreement with Zhejiang Information, a wholly-owned subsidiary of the controlling shareholder of the Company, pursuant to which the Company agreed to purchase LED lights retrofit services from Zhejiang Information.

Principal terms of the LED Lights Retrofit Agreement are set out below:

Date: April 17, 2018
Parties: (1) Jinhua Co, as the contract letting party; and

(2) Zhejiang Information, as the contractor
Term: 60 days since April 17, 2018
Consideration: RMB6,935,280
Basisofconsideration: The consideration hasbeen determinedby public tender procedures which are open to other independent third party service providers. The factors for assessment include, but are not limited to, the tender prices, relevant experience in construction design, company reputation and quality of work and technological solutions. According to the evaluation of the assessment committee, Zhejiang Information successfully obtained the highest overall score among all the bidders.
Payment: The consideration is paid in four installments: (i) 20% to be paid within 15 working days after signing of the LED Lights Retrofit Agreement; (ii) 60% to be paid after acceptance of delivery and examination; (iii) 10% to be paid after the expiry of defect liability period; and (iv) 10% to be paid after the expiry of warranty period.
Scopeofservices: LEDlightsretrofit of Yankengjian Tunnel of Jinhua section of Ningbo-Jinhua Expressway, which includes, but not limited to, the procurement, installation and testing of the LED lights and ancillary facilities.
Governinglaw: PRC law


REASONS FOR AND BENEFITS OF THE TRANSACTION

Well-functioning lighting facilities are necessary for the safe operation of expressways, especially for tunnels. LED lights characterized by stable and energy efficient are regarded as ideal lighting facilities of tunnels. Zhejiang Information has the relevant qualifications and expertise to provide LED lights retrofit services to Jinhua Co. In addition, Jinhua Co has gone through the public tender process in accordance with which Zhejiang Information successfully obtained the highest overall score among all the bidders.

Given the above, the Directors (including the independent non-executive Directors) are of the view that the terms of the LED Lights Retrofit Agreement are on normal commercial terms, in the ordinary and usual course of business of the Company and are fair and reasonable and in the interests of the Company and the Shareholders as a whole.

LISTING RULES IMPLICATIONS

As at the date of this announcement, Communications Group is a controlling shareholder of the Company. Zhejiang Information is a wholly-owned subsidiary of Communications Group. Therefore, Zhejiang Information is a connected person of the Company and as a result, the transaction under the LED Lights Retrofit Agreement constitutes connected transaction for the Company under Chapter 14A of the Listing Rules.

Pursuant to Rules 14A.81 and 14A.82 of the Listing Rules, as the transactions contemplated under the LED Lights Retrofit Agreement and the Previous Transactions were entered into with parties who are connected with one another and within a 12-month period, the LED Lights Retrofit Agreement and the Previous Transactions are required to be aggregated for the calculation of the relevant percentage ratios to determine the classification of the transactions.

As the applicable percentage ratios in respect of the transactions contemplated under the LED Lights Retrofit Agreement, after aggregating the Previous Transactions, are more than 0.1% but less than 5%, the LED Lights Retrofit Agreement will be subject to the reporting, announcement and annual review requirements but exempt from the independent Shareholders' approval requirement under Chapter 14A of the Listing Rules.

None of the Directors have a material interest in the transaction contemplated under the LED Lights Retrofit Agreement and none are required to abstain from voting on the relevant Board resolutions.

INFORMATION ON THE PARTIES

Jinhua Co is a directly wholly-owned subsidiary of the Company which was incorporated under the laws of the PRC with limited liability on September 30, 2003. Jinhua Co is principally engaged in the construction, management, operation and maintenance of Jinhua section of Ningbo-Jinhua Expressway and ancillary services.

Zhejiang Information is a wholly-owned subsidiary of Communications Group which was incorporated under the laws of the PRC with limited liability on July 22, 2004. Zhejiang Information is principally engaged in the business of electromechanical system integration, intelligent transportation software and hardware research and development, and big data analysis operations within the highway sector.

DEFINITIONS

Inthis announcement, unlessthecontextspecifiesotherwise, thefollowing defined expressions have the following meanings:

"associate"has the meaning ascribed to it under the Listing Rules
"Board" the board of Directors
"CommunicationsGroup"Zhejiang Communications Investment Group Co., Ltd.*, a wholly
state-owned enterprise established in the PRC, and the
controlling shareholder of the Company
"Company"Zhejiang Expressway Co., Ltd., a joint s tock l imited company
incorporated in the PRC with limited liability
"connectedperson"has the meaning ascribed to it under the Listing Rules
"controllingshareholder"has the meaning ascribed to it under the Listing Rules
"Director(s)"the directors of the Company
"Group"the Company and its subsidiaries
"HongKong"the Hong Kong Special Administrative Region of the
PRC
"JinhuaCo"Zhejiang Jinhua Yongjin Expressway Co., Ltd.*, a directly wholly-owned subsidiary of the Company
"LED"light-emitting diode
"LED Lights Retrofit Agreement"the LED lights retrofit agreement dated April 17, 2018
entered into between Jinhua Co and Zhejiang
Information, pursuant to which the Company agreed to
purchase LED lights retrofit services from Zhejiang
Information
"ListingRules"Rules Governing theListing of Securities onThe
Stock Exchange of Hong Kong Limited
"percentageratio"has the meaning ascribed to it under Rule 14.04(9) of
the Listing Rules
"PRC"the People's Republic of China (for the purpose of this
announcement, excludes Hong Kong, Macau and
Taiwan)
"PreviousTransactions" the agreements entered into within a 12-month period
prior to the date of the LED Lights Retrofit Agreement
between or among the Group and Communications
Group's associates in relation to highway operations
and maintenance services. For details, please refer to
the announcements issued by the Company dated
December 22, 2017 and January 4, 2018 respectively.
"RMB"Renminbi, the lawful currency of the PRC
"Shareholder(s)"holder(s) of the share(s) of the Company
"StockExchange" The Stock Exchange of Hong Kong Limited
"subsidiary(ies)"has the meaning ascribed to it under the Listing Rules
"%"per cent.
"ZhejiangInformation"Zhejiang ExpresswayInformation Engineering
Technology Co., Ltd, a company incorporated in the PRC and a
wholly-owned subsidiary of Communications Group


* English names for reference only

On behalf of the Board
ZHEJIANG EXPRESSWAY CO., LTD.
YUZhihong
Chairman

Hangzhou, the PRC, April 17, 2018

Asatthedateofthisannouncement,theChairmanoftheCompanyisMr.YuZhihong;theexecutiveDirectorsoftheCompanyare:Mr.CHENGTaoandMs.LUOJianhu;theothernon-executiveDirectorsoftheCompanyare:Mr.DAIBenmeng,Mr.YUQunliandMr.YUJi;andthe independent non-executive Directors of the Company are: Mr. PEI Ker-Wei, Ms. LEE Wai Tsang, Rosa and Mr. CHEN Bin.


© 2018 PR Newswire