Summary by Futu AI
On December 17, 2024, SANDS CHINA LTD signed a renewal agreement for 2025 with Las Vegas Sands Corp. (LVS), extending the 2024 Shared Services Agreement for an additional year until December 31, 2025. According to the renewed agreement, the LVS group will continue to provide marketing services and transportation and related services to SANDS CHINA. In fiscal year 2025, the annual cap for marketing services provided by the LVS group to SANDS CHINA is set at $12.4 million, while the annual cap for transportation and related services is $12.6 million. These trades form continuing connected transactions and are required to comply with reporting, announcement, and annual review regulations under Chapter 14A of the Listing Rules, but are exempt from the requirement for independent shareholder approval. The Board of Directors believes that the terms of the renewal agreement are established under normal commercial terms, are fair and reasonable, and align with the overall interests of the company and its Shareholders. The renewal agreement helps to meet the developmental needs of SANDS CHINA's various business units.