On November 22, 2024, Towngas, a wholly-owned subsidiary of Hong Kong and China Gas, successfully won a contract related to seawater pipeline works, with a maximum contract amount of HKD 265 million. This trade is related to a connected transaction under Chapter 14A of the Listing Rules as it involves a wholly-owned subsidiary of the controlling shareholder, henderson land. Since the applicable percentage in the consolidated benchmark calculation is greater than 0.1% but less than 5%, this trade only requires compliance with disclosure and announcement regulations, exempting it from the circular and shareholder approval. In addition, on August 16, 2024, another wholly-owned subsidiary, Starry, confirmed its nomination as a subcontractor for the gas pipeline installation project, with a contract amount of HKD 8.5 million. The transactions...Show More

On November 22, 2024, Towngas, a wholly-owned subsidiary of Hong Kong and China Gas, successfully won a contract related to seawater pipeline works, with a maximum contract amount of HKD 265 million. This trade is related to a connected transaction under Chapter 14A of the Listing Rules as it involves a wholly-owned subsidiary of the controlling shareholder, henderson land. Since the applicable percentage in the consolidated benchmark calculation is greater than 0.1% but less than 5%, this trade only requires compliance with disclosure and announcement regulations, exempting it from the circular and shareholder approval. In addition, on August 16, 2024, another wholly-owned subsidiary, Starry, confirmed its nomination as a subcontractor for the gas pipeline installation project, with a contract amount of HKD 8.5 million. The transactions between Starry and Towngas are conducted in the course of their ordinary business and are expected to contribute to the overall business of the group. The board of directors believes the terms of the trade are fair and reasonable and in the overall interest of the shareholders. As Dr. Li Ka Kit and Dr. Li Ka Sing are considered to have a securities interest in henderson land, they abstained from voting at the board meeting. Hong Kong and China Gas mainly engages in gas production, transmission, and sales, as well as water supply, while henderson land is involved in property development and investment.