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CREDIT CHINA FINTECH HOLDINGS LIMITED中國信貸科技控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 8207)
CONTINUING CONNECTED TRANSACTIONS SUB-TENANCY AGREEMENT AND BEIJING TENANCY AGREEMENTS SUB-TENANCY AGREEMENTReference is made to the Company's announcement dated 23 October 2014 in relation to, among others, the Previous Sub-tenancy Agreement entered into between the Company and UCF.
On 25 January 2017, the Company entered into a new Sub-tenancy Agreement with UCF in respect of the renewal of the sub-tenancy of an office premises at a monthly rent of HK$471,360 for the period commencing on 1 January 2017 and ending on 31 December 2017. The maximum aggregate annual cap for the transactions contemplated under the Sub-tenancy Agreement (i.e. the Sub-tenancy Annual Cap) for the year ending 31 December 2017 will be HK$5,656,320.
BEIJING TENANCY AGREEMENTSOn 25 January 2017, certain indirect wholly-owned subsidiaries of the Company, entered into the Beijing Tenancy Agreements with Beijing Xiaoyun in respect of the lease of certain office premises in Beijing.
GEM LISTING RULES IMPLICATIONSMr. Zhang is a non-executive Director and substantial shareholder of the Company. UCF and Beijing Xiaoyun are associates of Mr. Zhang and hence connected persons of the Company. Accordingly, the Sub-tenancy Agreement, the Beijing Tenancy Agreements and the transactions contemplated thereunder constitute continuing connected transactions for the Company under the GEM Listing Rules.
As the highest applicable percentage ratio in respect of the Sub-tenancy Agreement and the transactions contemplated thereunder exceeds 0.1% but is less than 5%, the Sub-tenancy Agreement is subject to the reporting, announcement and annual review requirements but is exempt from the independent shareholders' approval requirements under the GEM Listing Rules.
As the highest applicable percentage ratio in respect of the Beijing Tenancy Agreements and the transactions contemplated thereunder, on an aggregated basis, exceeds 0.1% but is less than 5%, the Beijing Tenancy Agreements are subject to the reporting, announcement and annual review requirements but is exempt from the independent shareholders' approval requirements under the GEM Listing Rules.
SUB-TENANCY AGREEMENTOn 25 January 2017 , the Company entered into a new Sub-tenancy Agreement with UCF in respect of the renewal of the sub-tenancy of an office premises at a monthly rent of HK$471,360 for the period commencing on 1 January 2017 and ending on 31 December 2017, the principal terms of which are as follows:
Date: 25 January 2017
Parties: the Company, as sub-lessee
UCF, which is indirectly owned as to 100% by Mr. Zhang and thus a connected person of the Company, as sub-lessor
Premises: Rooms 3533-39, Level 35, Two Pacific Place, 88 Queensway, Hong Kong with a saleable floor area of about 2,946 square feet
Term: 1 year commencing on 1 January 2017 and ending on 31 December 2017 (both days inclusive)
Monthly rent: HK$471,360 per month (inclusive of government rates,
government rent, air-conditioning fees and management fees)
The monthly rent was determined after arm's length negotiations by reference to the monthly rent of other comparable premises in the vicinity and the estimated amount of government rates, government rent, air-conditioning fees and management fees.
Historical figuresThe aggregate rental paid by the Company to UCF in respect of the leasing of the office premises under the Previous Sub-tenancy Agreement for the three years ended 31 December 2016 are as follows:-
Year ended 31 December 2014 Year ended 31 December 2015 Year ended 31 December 2016HK$1,052,704 HK$5,656,320 HK$5,656,320
The above aggregate rental were within the annual caps for the Previous Sub-tenancy Agreement as disclosed in the Company's announcement dated 23 October 2014.
Current Annual CapThe maximum aggregate amount of rent during the term of the Sub-tenancy Agreement (i.e. the Sub-tenancy Annual Cap) for the year ending 31 December 2017 is HK$5,656,320.
In arriving at the Sub-tenancy Annual Cap, the Directors have taken into account the monthly rent payable by the Company to UCF under the Sub-tenancy Agreement.
BEIJING TENANCY AGREEMENTSOn 25 January 2017, certain indirect wholly-owned subsidiaries of the Company entered into the Beijing Tenancy Agreements with Beijing Xiaoyun in respect of the lease of certain office premises in Beijing. Details of the Beijing Tenancy Agreements are set out below:
Beijing Tenancy Agreement 1On 25 January 2017, UCF Pay, an indirect wholly-owned subsidiary of the Company, entered into the Beijing Tenancy Agreement 1 with Beijing Xiaoyun in respect of the lease of an office premises in Beijing for the period commencing on 1 January 2017 and ending on 31 December 2017, the principal terms of which are as follows:
Date: 25 January 2017
Parties: UCF Pay, an indirect wholly-owned subsidiary of the Company
Beijing Xiaoyun, which is indirectly controlled as to more than 30% by Mr. Zhang and regarded as a close associate of Mr. Zhang and thus a connected person of the Company
Premise: 5th Floor, Building 2, 28th Yuan, Xiaoyun Road, Chaoyang District, Beijing（ 北京市朝陽區霄雲路28號院2號樓5層）, with a gross floor area of 1198.23 square meters.
Term: 1 year commencing on 1 January 2017 and ending on 31 December 2017 (both days inclusive)
Rental: RMB11.56 per day per square meter (inclusive of operation fees and property fees)
The rental was determined after arm's length negotiations with reference to the rental of other comparable premises in the vicinity.
The maximum aggregate amount of rent during the term of the Beijing Tenancy Agreement 1 for the year ending 31 December 2017 is RMB5,055,812 (equivalent to approximately HK$5,662,509.
Beijing Tenancy Agreement 2Date: 1 August 2016
Parties: 北京壹房壹貸信息技術服務有限公司("Beijing Yifang Yidai"), an indirect wholly-owned subsidiary of the Company
Beijing Xiaoyun, which is indirectly controlled as to more than 30% by Mr. Zhang and regarded as a close associate of Mr. Zhang
Premise: 13th Floor, Building 2, 28th Yuan, Xiaoyun Road, Chaoyang District, Beijing（ 北京朝陽區霄雲路28號院2樓13層）, with a gross floor area of 101.35 square meters
Term: Approximately 1 year and 5 months commencing on 1 August 2016 to 31 December 2017
Rental: RMB11.56 per day per square meter (inclusive of operation fees and property fees)
Credit China Holdings Limited published this content on 25 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 January 2017 14:57:03 UTC.
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