NewWorld Development Company Limited
REPORT OF THE DIRECTORS
78
CONNECTED TRANSACTIONS
(continued)
(7) On 11 April 2014, the Company and CTFJ entered into a master leasing agreement (the “Master Leasing
Agreement”) regarding the leasing of premises between members of the Group and members of the CTFJ
Group for an initial term of three years commencing from 1 July 2014. Subject to compliance with the relevant
requirements under the Listing Rules, upon expiration of the initial term or subsequent renewal term, the Master
Leasing Agreement will be automatically renewed for a successive period of three years thereafter.
As CTFJ is a fellow subsidiary of CTF which is a substantial shareholder of the Company, CTFJ is therefore a
connected person of the Company under the Listing Rules. Accordingly, the entering into of the Master Leasing
Agreement and all the transactions contemplated thereunder constitute continuing connected transactions for the
Company under the Listing Rules.
For the year ended 30 June 2015, the aggregate amount of the transactions under the Master Leasing Agreement
amounted to approximately HK$125.4 million, which is within the annual cap of HK$152.3 million.
(8) On 11 April 2014, NWDS, the Company and CTFJ entered into a master sales agreement (the “Master Sales
Agreement”) in relation to the sales transactions among members of the NWDS Group, members of the Group,
members of the CTFJ Group and/or joint ventures jointly controlled by CTF and NWCL (“N/C JVs”) in respect of
the use of various cash equivalent gift coupons, gift cards and stored value shopping cards issued by the Group
(“Shopping Vouchers”), prepaid shopping cards issued by the NWDS Group to the Group and/or CTFJ Group
(“Prepaid Shopping Cards”), various joint name cards and/or joint name vouchers issued by the CTFJ Group
and/or the NWDS Group (“Joint Name Vouchers”) or other means acceptable to the NWDS Group as payment for
purchases of goods at the department stores owned by the NWDS Group from time to time and the settlement of
the relevant value represented by such Shopping Vouchers (with the shopping vouchers commissions and rebates),
the Prepaid Shopping Cards (with the discounts, where applicable), the Joint Name Vouchers (with the joint name
vouchers commissions) or by any other means acceptable to the NWDS Group among relevant members of the
NWDS Group, the Group or the CTFJ Group; and the sale of goods by members of the Group, the CTFJ Group
and/or N/C JVs to members of the NWDS Group.
The Master Sales Agreement has an initial term of three years commencing from 1 July 2014. Subject to
compliance with the relevant requirements under the Listing Rules, upon expiration of the initial term or subsequent
renewal term, the Master Sales Agreement will be automatically renewed for a successive period of three years
thereafter.
As CTFJ is a fellow subsidiary of CTF which is a substantial shareholder of the Company, CTFJ is therefore a
connected person of the Company under the Listing Rules. Accordingly, the entering into of the Master Sales
Agreement and all the transactions contemplated thereunder constitute continuing connected transactions for the
Company under the Listing Rules.
For the year ended 30 June 2015, the aggregate amount of the transactions under the Master Sales Agreement
amounted to approximately RMB7.0 million (equivalent to approximately HK$8.7 million), which is within the annual
cap of RMB77.9 million (equivalent to approximately HK$97.4 million).
