Common use of APPLICATION FOR WAIVER Clause in Contracts

APPLICATION FOR WAIVER. As the non-fully exempt continuing connected transactions have been disclosed in the document, our Directors consider that strict compliance with the announcement requirement under the Listing Rules would be unduly burdensome and add unnecessary administrative costs on our Company. Accordingly, pursuant to Rules 14A.102 and 14A.105 of the Listing Rules, we have applied for, and the Stock Exchange [has granted] to us, a waiver from strict compliance with the announcement requirement under Rules 14A.35 of the Listing Rules, once our Shares are listed on the Stock Exchange in respect of such non-exempt continuing connected transactions, subject to the aggregate amount of the non-exempt continuing connected transactions for the financial years ending 31 December 2020, 2021 and 2022 not exceeding the relevant annual cap amounts as stated above. Our Board has approved the non-fully exempt continuing connected transactions described above. Further, our Directors (including our independent non-executive Directors) have confirmed that (i) the terms of such non-fully exempt continuing connected transactions are fair and reasonable; (ii) such non-fully exempt continuing connected transactions are on normal commercial terms or better and are in the interest of our Group and our Shareholders as a whole;

APPLICATION FOR WAIVER. As the non-fully exempt continuing connected transactions have been disclosed in the document, our Directors consider that strict compliance with the announcement requirement under the Listing Rules would be unduly burdensome and add unnecessary administrative costs on our Company. Accordingly, pursuant to Rules 14A.102 and 14A.105 of the Listing Rules, we have applied for, and the Stock Exchange [has granted] to us, a waiver from strict compliance with the announcement requirement under Rules 14A.35 of the Listing Rules, once our Shares are listed on the Stock Exchange in respect of such non-exempt continuing connected transactions, subject to the aggregate amount of the non-exempt continuing connected transactions for the financial years ending 31 December 2020, 2021 and 2022 not exceeding the relevant annual cap amounts as stated above. Our Board has [has] approved the non-fully exempt continuing connected transactions described above. Further, our Directors (including our independent non-executive Directors) have confirmed that (i) the terms of such non-fully exempt continuing connected transactions are fair and reasonable; (ii) such non-fully exempt continuing connected transactions are on normal commercial terms or better and are in the interest of our Group and our Shareholders as a whole;