• No results found

THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION

N/A
N/A
Protected

Academic year: 2021

Share "THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION"

Copied!
15
0
0

Loading.... (view fulltext now)

Full text

(1)

If you are in any doubtas to any aspect of this circular or as to what action to take, you should consult your licensed securities dealer, bank manager, solicitor, professional accountant or other professional adviser.

If you have sold or transferred all your shares in China Daye Non-Ferrous Metals Mining Limited, you should at once hand this circular and the accompanying proxy form to the purchaser or the transferee or to the bank manager, licensed securities dealer or other agent through whom the sale or transfer was effected for transmission to the purchaser or the transferee.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this circular, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this circular.

(Incorporated in Bermuda with limited liability)

(Stock Code: 661)

MAJOR TRANSACTION —

FINANCE LEASING OF EQUIPMENT

(2)

Page

Definitions . . . 1

Letter from the Board A. Introduction . . . 3

B. The Equipment Sale and the Leasing Transactions . . . 4

C. Additional Information . . . 8

Appendix I — Financial Information of the Group . . . 9

Appendix II — General Information . . . 11

(3)

In this circular, unless the context otherwise requires, the following expressions shall have the following meanings:

‘‘Agreement’’ the sale and leaseback agreement dated 23 December 2015 entered into between Daye Metal and Huaxin Financing in respect of the Equipment Sale and the Leasing Transactions

‘‘Board’’ the board of Directors

‘‘China Times’’ China Times Development Limited, a company incorporated in the British Virgin Islands and the direct controlling shareholder of the Company

‘‘Company’’ China Daye Non-Ferrous Metals Mining Limited, a company incorporated in Bermuda with limited liability, the shares of which are listed on the Main Board of the Stock Exchange

‘‘Daye Metal’’ 大冶有色金屬有限責任公司 (Daye Non-ferrous Metals Co., Ltd.), a limited liability company established in the PRC and a non-wholly owned subsidiary of the Company

‘‘Director(s)’’ directors of the Company

‘‘Equipment’’ the machinery and equipment primarily used by Daye Metal for copper smelting and processing and copper mining as further set out in the Agreement

‘‘Equipment Sale’’ the sale of the Equipment by Daye Metal to Huaxin Financing pursuant to the terms and conditions of the Agreement

‘‘Group’’ the Company and its subsidiaries

‘‘Hong Kong’’ the Hong Kong Special Administrative Region of the PRC ‘‘Huaxin Financing’’ 江蘇華新融資租賃有限公司 (Chinovation Financial

Leasing Co., Ltd.*), a company established in the PRC with limited liability

‘‘Latest Practicable Date’’ 20 January 2016, being the latest practicable date prior to the printing of this circular for the purpose of ascertaining certain information for inclusion herein

‘‘Lease Commencement Date’’ the date on which the purchase price for the Equipment Sale is paid by Huaxin Financing pursuant to the terms and conditions of the Agreement

(4)

‘‘Lease Consideration’’ the lease consideration for the Leasing Transactions payable by Daye Metal to Huaxin Financing

‘‘Lease Period’’ the period of eight years from the Lease Commencement Date

‘‘Leasing Transactions’’ the leasing of the Equipment by Daye Metal from Huaxin Financing after completion of the Equipment Sale pursuant to the terms and conditions of the Agreement

‘‘Listing Rules’’ the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited

‘‘Parent Company’’ 大冶有色金屬集團控股有限公司 (Daye Nonferrous Metals Group Holding Co., Ltd.*), a limited liability company incorporated in the PRC and a controlling shareholder of the Company, which holds 100% of the equity interest in China Times as at the Latest Practicable Date

‘‘PRC’’ the People’s Republic of China, which for the purpose of this circular, excludes Hong Kong, the Macau Special Administration of the PRC and Taiwan

‘‘RMB’’ Renminbi, the lawful currency of the PRC

‘‘SFO’’ Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)

‘‘Shareholder(s)’’ holder(s) of the share(s) of the Company ‘‘Stock Exchange’’ The Stock Exchange of Hong Kong Limited

‘‘%’’ per cent

* For identification purpose only.

(5)

(Incorporated in Bermuda with limited liability)

(Stock Code: 661)

Executive Directors: Mr. Zhang Lin (Chairman)

Mr. Long Zhong Sheng (Chief Executive Officer) Mr. Zhai Baojin

Mr. Tan Yaoyu

Independent Non-executive Directors: Mr. Wang Guoqi Mr. Wang Qihong Mr. Liu Jishun Registered office: Clarendon House 2 Church Street Hamilton HM 11 Bermuda

Head office and principal place of business:

18th Floor

8 Queen’s Road Central Central

Hong Kong

25 January 2016

To the Shareholders and, for information only,

the holders of the convertible notes issued by the Company

Dear Sir or Madam,

MAJOR TRANSACTION

FINANCE LEASING OF EQUIPMENT

A. INTRODUCTION

Reference is made to the announcement of the Company dated 23 December 2015 regarding the Equipment Sale and the Leasing Transactions.

The main purpose of this circular is to provide you with, among other things: (a) further details of the Leasing Transactions contemplated under the Agreement; (b) certain financial information of the Group; and (c) such other information as required under the Listing Rules.

(6)

B. THE EQUIPMENT SALE AND THE LEASING TRANSACTIONS

On 23 December 2015, Daye Metal (a non-wholly subsidiary of the Company) and Huaxin Financing entered into the Agreement, pursuant to which Huaxin Financing has agreed to purchase the Equipment from Daye Metal at a purchase price of RMB500,000,000 and lease back the Equipment to Daye Metal for a period of eight years subject to the terms and conditions of the Agreement.

The Agreement

The principal terms of the Agreement are set out below:

Date

23 December 2015

Parties

(1) Daye Metal as the vendor and the lessee of the Equipment; and

(2) Huaxin Financing as the purchaser and the lessor of the Equipment.

Sale and Leaseback

Pursuant to the Agreement, Huaxin Financing shall purchase the Equipment from Daye Metal at a purchase price of RMB500,000,000, which had been fully paid by Huaxin Financing to Daye Metal by way of bank transfer on 11 January 2016.

Pursuant to the Agreement, Huaxin Financing shall lease back the Equipment to Daye Metal for a period of eight years from the Lease Commencement Date. The Lease Consideration shall comprise a fixed rental fee and a floating rental fee, both payable semi-annually in the first six years and quarterly in the last two years of the Lease Period.

Lease Payment

As payment of the fixed rental fee, Daye Metal shall pay to Huaxin Financing RMB500,000 semi-annually in the first six years and RMB61,750,000 quarterly in the last two years of the Lease Period.

The amount of floating rental fee payable by Daye Metal on each floating rental fee payment date shall be determined in accordance with the following formula:

Floating rental fee for the lease period = Remainder of fixed rental fee unpaid × Applicable interest rate × Actual number of days for the lease period ÷ 360

(7)

The applicable interest rate shall be 99% of the benchmark RMB loan interest rate as announced by the People’s Bank of China on the Lease Commencement Date with reference to the benchmark interest rate to be charged for RMB loans for over five years, subject to adjustment at each floating rental fee payment date according to the then prevailing benchmark RMB loan interest rate for RMB loans for over five years.

Guarantee

Pursuant to the Agreement, the Parent Company shall provide a guarantee in favour of Huaxin Financing of the liabilities and obligations of Daye Metal under the Agreement and the transaction documents contemplated thereunder.

Conditions Precedent

The Equipment Sale and the Leasing Transactions under the Agreement shall be subject to the fulfillment of, among others, the following principal conditions unless otherwise waived by Huaxin Financing in writing:

(1) internal approvals of Daye Metal having been passed to approve the Agreement and the transaction documents contemplated thereunder;

(2) resolutions of the Parent Company, who shall act as the guarantor in favour of Huaxin Financing, having been passed to approve the guarantee documents and the transaction contemplated thereunder; and

(3) all necessary consents, approvals and permits from the governmental authorities required for the execution and implementation of the transaction documents contemplated under the Agreement or to ensure the enforceability and validity thereof having been granted.

Pursuant to the Agreement, Huaxin Financing is entitled to waive any of the conditions in writing at its discretion. As at the Latest Practicable Date, all of the above principal conditions had been fulfilled.

The Equipment

The Equipment consist of certain machinery and equipment primarily used by Daye Metal for copper smelting and processing and copper mining in Hubei, the PRC and wholly-owned by Daye Metal.

Early re-purchase and termination

Prior to the expiry of the Lease Period, subject to the written consent of Huaxin Financing and provided that no event of default has occurred, Daye Metal may submit an early repurchase request to Huaxin Financing to repurchase all the Equipment and to terminate the Leasing Transactions, upon which Daye Metal shall pay the termination fee (comprising the remainder of the fixed rental fee which are

(8)

not yet paid and not yet due, any floating rental fee accrued but not yet paid and other reasonable losses, costs and fees incurred by Huaxin Financing in respect of the termination) and the nominal consideration of RMB1.00.

Ownership of the Equipment at the end of the Lease Period

At the end of the Lease Period and subject to fulfillment of all of its obligations under the Agreement, Daye Metal shall be entitled to re-purchase the Equipment from Huaxin Financing at a nominal consideration of RMB1.00.

Financial Effects of the Transactions under the Agreement

As at 31 October 2015, the net book value of the Equipment was RMB523,368,775. The Equipment Sale is not expected to result in any gain or loss to the Group in its consolidated financial statements pursuant to applicable accounting principles.

Since the transactions contemplated under the Agreement give rise to a finance leaseback, the substance of the Equipment Sale and the Leasing Transactions is that no disposal of the Equipment has taken place and, therefore, no gain or loss on disposal is expected to be recognised in the Group’s consolidated financial statements pursuant to applicable accounting principles. To reflect the substance of the arrangements, the Group continues to recognise the Equipment at its previous carrying amount and to account for the Equipment as if the Equipment Sale and the Leasing Transactions had not occurred. The sale proceeds received from Huaxin Financing would be recorded as lease obligation, which is a liability for the Group.

The net proceeds from the Equipment Sale are estimated to be used to supplement the general working capital of the Group.

Reasons for and Benefits of Entering into the Agreement

The total fixed rental fee payable by Daye Metal under the Agreement over the Lease Period shall be RMB500,000,000. It is estimated that the total floating rental fee payable by Daye Metal under the Agreement over the Lease Period shall be approximately RMB174,165,588, subject to adjustment according to the then prevailing benchmark interest rate to be charged for over five-year loans as announced by the People’s Bank of China.

The terms and condition of the Agreement, including the Lease Consideration, were determined after arm’s length negotiations between the parties and by reference to, among other things, the value of the Equipment, the term of the Lease Period, the purchase cost of the Equipment and similar building and equipment leasing arrangements with PRC financial leasing companies for a period of three years or more.

The Directors are of the view that the Agreement and the transactions contemplated thereunder will provide the Group with additional working capital to support its business and operational activities and the terms and conditions of the Agreement are fair and reasonable and in the interests of the Company and its shareholders as a whole.

(9)

Accordingly, if a general meeting were required to be convened for the approval of the Agreement, the Directors would recommend Shareholders to vote in favour of the resolution to approve the Agreement and the transactions contemplated thereunder.

Information on the Group

The Group is principally engaged in the exploitation of mineral resources, the mining and processing of mineral ores and the trading of metal products.

Information on Daye Metal

Daye Metal is a limited liability company established in the PRC and principally engaged in mining and processing of mineral ores and trading of metal concentrates. It is directly held as to 95.35% by Rainbow Treasure Holdings Limited (a wholly owned subsidiary of the Company) and as to 4.65% by China Huarong Asset Management Co., Ltd.* (中國華融資產管理股份有限公司) (a state owned enterprise, the shares of which are listed on the Main Board of the Stock Exchange), and is a non-wholly owned subsidiary of the Company.

Information on Huaxin Financing

To the best of the knowledge, information and belief of the Directors and having made reasonable enquiries, Huaxin Financing is: (i) a limited liability company established in the PRC and principally engaged in the domestic and cross-border leasing business in the PRC, RMB business within and outside PRC, as well as overseas foreign currency business, acquisition and disposal of assets and related consultation services; (ii) indirectly owned by Jiangsu Huaxi Group Corporation* (江蘇華西集團公司) (an enterprise collectively owned by the Villagers Committee of Huaxi New Village, Huashi Town, Jiangyin City* (江陰市華士鎮華西新市村村民委員會)), which is principally engaged in the business of high-speed wire rod, copper pipe, hot-rolled strip, etc.; and (iii) Huaxin Financing is required to obtain approval from the Ministry of Commerce of the PRC to engage in finance leasing business, which Huaxin Financing has obtained.

The Directors confirm that to the best of their knowledge, information and belief, having made all reasonable enquiries, Huaxing Financing and its ultimate beneficial owner(s) are third parties independent of the Company and its connected persons.

Listing Rules Implications

As one or more of the applicable percentage ratios in respect of the Equipment Sale is more than 5% but all less than 25%, the transaction constitutes a discloseable transaction of the Company and is subject to the reporting and announcement requirements but is exempt from shareholders’ approval requirement under Chapter 14 of the Listing Rules.

(10)

As one or more of the applicable percentage ratios in respect of the Leasing Transactions contemplated under the Agreement is more than 25%, the Leasing Transactions under the Agreement constitutes a major transaction of the Company and is subject to the reporting, announcement and shareholders’ approval requirement under Chapter 14 of the Listing Rules.

To the best of the knowledge, information and belief of the Directors and having made reasonable enquiries, no Shareholder has any material interest in the Agreement and no Shareholder is required to abstain from voting on the resolutions in approving the Agreement in the general meeting under Rules 2.15 and 2.16 of the Listing Rules.

On 23 December 2015, the Company received a written shareholder’s approval approving the Agreement and the transactions contemplated thereunder from China Times, being the immediate controlling Shareholder holding a total of approximately 66.85% of the entire issued share capital of the Company as at the Latest Practicable Date. As a result, no general meeting is required to be convened for the approval of the Agreement pursuant to Rule 14.44 of the Listing Rules.

C. ADDITIONAL INFORMATION

Your attention is drawn to the additional information set out in the appendices to this circular.

By order of the Board of

China Daye Non-Ferrous Metals Mining Limited Zhang Lin

Chairman of the Board

(11)

1. THREE-YEAR FINANCIAL INFORMATION OF THE GROUP

The Company is required to set out in this circular the information for the last three financial years with respect to the profits and losses, financial record and position, set out as a comparative table and the latest published audited balance sheet together with the notes to the annual accounts for the last financial year for the Group.

The audited consolidated financial statements of the Group for the years ended 31 December 2012, 2013 and 2014 have been disclosed in the following documents published on the HKExnews website (www.hkexnews.hk) and the Company’s website (www.hk661.com):

. annual report of the Company for the year ended 31 December 2012 published on 24 April 2013 (Pages 61 to 156);

. annual report of the Company for the year ended 31 December 2013 published on 25 April 2014 (Pages 61 to 166);

. annual report of the Company for the year ended 31 December 2014 published on 28 April 2015 (Pages 61 to 158).

2. FINANCIAL AND TRADING PROSPECTS

The global economy was in a stage of deep adjustment. With diverging growth of the major economies, excessive volatility of the international financial market and bulk commodity prices and increasing geopolitical instability, the global economy continued to suffer from both downward pressure and unpredictable risks. As the growth rate of the domestic economy further slowed down, enterprises were experiencing sluggish economic recovery with weak momentum. At the industry level, the demand for non-ferrous metals continued to slow down. Under the dual pressure of a continuous decline in prices and the relatively high cost suffered by the whole industry, the prices of non-ferrous metals have been declining. However, this challenging condition, which is industry-wide, will be difficult to change in the short term.

Under the increasingly difficult situation with rapid increase in costs and expenses as well as the concentration of operational risks, the profit of the Group was affected to a certain extent. The Group will consistently implement appropriate measures with a focus on enhancing quality and efficiency and maintain a stable and rapid development as a whole.

The entering into of the Agreement will provide the Group with additional working capital to support its business and operational activities.

(12)

3. INDEBTEDNESS STATEMENT OF THE GROUP

At the close of business on 30 November 2015, being the latest practicable date for the purpose of determining the indebtedness prior to the printing of this Circular, the Group had (i) outstanding bank borrowings in aggregate of approximately RMB5,436,630,000 (of which certain bank borrowings in the amount of approximately RMB185,085,000 were secured by the certain bank deposits held by the Group and unguaranteed, and the remaining bank borrowings of approximately RMB5,251,545,000 were unsecured and unguaranteed); (ii) loans from a fellow subsidiary and an intermediate holding company of approximately RMB273,000,000 and RMB1,617,642,000, respectively, which were unsecured and unguaranteed; (iii) gold loans in aggregate of approximately RMB1,229,851,000 (of which certain gold loans in the amount of approximately RMB181,175,000 were secured by the certain bank deposits held by the Group and unguaranteed, and the remaining gold loans of approximately RMB1,048,676,000 were unsecured and unguaranteed); (iv) silver loans of approximately RMB3,760,000 which were unsecured and unguaranteed; (v) advance from a fellow subsidiary for discounted bills of approximately RMB26,400,000, which was unsecured and unguaranteed; (vi) amounts due to fellow subsidiaries, joint ventures, an intermediate holding company and associates of an intermediate holding company of approximately RMB298,602,000, RMB92,169,000, RMB10,425,000 and RMB184,000, respectively, which were unsecured and unguaranteed; (vii) convertible bonds with a carrying amount of approximately RMB665,611,000 which was unsecured and unguaranteed; and (viii) convertible note with an aggregate carrying amount of approximately RMB747,729,000 (of which included liability component of approximately RMB724,077,000 and derivative component of approximately RMB23,652,000) which were unsecured and unguaranteed.

Save as aforesaid and apart from intra-group liabilities, the Group did not have, at the close of business on 30 November 2015, any other outstanding liabilities or any debt securities, or any mortgages, charges, debentures, loan capital, bank overdrafts, loans, liabilities under acceptance (other than normal trade bills) or other similar indebtedness, hire purchase or finance lease obligations or any guarantees or other material contingent liabilities.

4. WORKING CAPITAL

After taking into account the cash flow impact of the Equipment Sale and the Leasing Transactions, the present financial resources available to the Group, successful renewal of majority existing bank loans upon maturity and in the absence of unforeseen circumstances, the Board believes that the Group shall have sufficient working capital to meet its present requirement for at least 12 months from the date of this Circular.

(13)

1. RESPONSIBILITY STATEMENT

This circular, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the Listing Rules for the purpose of giving information with regard to the Group. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this circular is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this document misleading.

2. DIRECTORS’ INTERESTS

(a) Long positions in the shares, underlying shares and debentures of the Company and its associated corporations:

The following table sets out the interests in the shares of the Company held by the Directors:

Name of Director Capacity

Nature of interest Number of shares Approximate shareholding percentage (%)

Wang Qihong Beneficial Owner Personal 594,000 0.01 Interest of Spouse Personal 1,000,000

(Note 1)

0.01

Wang Guoqi Beneficial Owner Personal 600,000 0.01

Note:

1. Mr. Wang Qihong is deemed to be interested in 1,000,000 shares through the interests of his spouse, Ms. Geng Shuang, pursuant to Part XV of the SFO.

Saved as disclosed above, as at the Latest Practicable Date, none of the Directors or the chief executive of the Company had any interests or short positions in any shares, underlying shares or debentures of the Company or its associated corporations (within the meaning of Part XV of the SFO) which were: (i) required to be notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO; (ii) required, pursuant to section 352 of the SFO, to be entered in the register referred to therein; or (iii) required, pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers, to be notified to the Company and the Stock Exchange.

As at the Latest Practicable Date: (i) each of Mr. Zhang Lin and Mr. Zhai Baojin were directors of the Parent Company; (ii) Mr. Long Zhong Sheng was a director of China Times Development Limited, the immediate controlling shareholder of the Company, and an employee of the Parent Company; and (iii) Mr. Tan Yaoyu was an

(14)

employee of the Parent Company. Save as disclosed above, as at the Latest Practicable Date, so far as was known to the Directors, none of the Directors was a director or employee of a company which has an interest or short position in the Company’s shares which would fall to be disclosed under the provisions of Division 2 and 3 of Part XV of the SFO.

(b) As at the Latest Practicable Date, none of the Directors had any direct or indirect interest in any assets which have since 31 December 2014 (being the date to which the latest published audited financial statements of the Company were made up) been acquired or disposed of by or leased to any member of the Group, or are proposed to be acquired or disposed of by or leased to any member of the Group.

(c) As at the Latest Practicable Date, none of the Directors was materially interested in any contract or arrangement subsisting as at the date of this circular and which is significant in relation to the business of the Group.

(d) As at the Latest Practicable Date, so far as the Directors were aware, none of the Directors or their respective associates had any interest in a business which competes or may compete with the business of the Group, or has or may have any other conflicts of interest with the Group pursuant to Rule 8.10 of the Listing Rules.

3. SERVICE CONTRACTS

As at the Latest Practicable Date, none of the Directors had entered into or propose to enter into a service contract (with any member of the Group) which is not expiring or determinable by the employer within one year without payment of compensation (other than statutory compensation).

4. MATERIAL ADVERSE CHANGE

As at the Latest Practicable Date, except as disclosed in the profit warning announcement dated 24 August 2015 and the unaudited financial information of the Group in the interim report of the Company for the six months ended 30 June 2015, the Directors were not aware of any material adverse changes in the financial or trading position of the Group since 31 December 2014 (being the date to which the latest published audited consolidated financial statements of the Group were made up). As disclosed in the profit warning announcement dated 24 August 2015 and the interim report of the Company for the six months ended 30 June 2015, the Group incurred a significant increase in net loss for the six months ended 30 June 2015 as compared with the corresponding period in 2014. The increase in net loss is mainly attributable to a significant decline in copper price for the six months ended 30 June 2015 and the impairment of assets due to the decline in copper price as a result of the slowdown of the global economy. The Directors believe that such circumstances constitute material adverse changes in the financial or trading position of the Group since 31 December 2014.

(15)

5. MATERIAL CONTRACTS

In the two years immediately preceding the date of this circular and up to the Latest Practicable Date, the following contract (not being contracts entered into in the ordinary course of business) was entered into by the Group which is or may be material:

(a) the Agreement.

6. LITIGATION

As at the Latest Practicable Date, so far as the Directors are aware, no litigation or claim of material importance was pending or threatened against any member of the Group.

7. GENERAL

(a) The registered office of the Company is at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda.

(b) The Hong Kong branch share registrar and transfer office of the Company is Tricor Investor Services Limited at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong.

(c) The company secretary of the Company is Mr. Lau Pok Yuen, who obtained a bachelor’s degree of Business Administration (Honours) Accounting from Hong Kong Baptist University in 2008 and is a certified public accountant of the Hong Kong Institute of Certified Public Accountants.

(d) This circular is in both English and Chinese. If there is any inconsistency, the English text shall prevail.

8. DOCUMENTS AVAILABLE FOR INSPECTION

Copies of the following documents are available for inspection during normal business hours on Mondays to Fridays (other than public holidays) at the offices of the Company at 18th Floor, 8 Queen’s Road Central, Central, Hong Kong from the date of this circular up to the date which is 14 days from the date of this circular:

(a) the memorandum of association and bye-laws of the Company;

(b) the material contract referred to in the paragraph headed ‘‘5. Material Contracts’’ in this Appendix II;

(c) each of the annual reports of the Company for the years ended 31 December 2013 and 31 December 2014, respectively; and

(d) this circular.

References

Related documents

In this model, the so-called liquid-drop model, all nucleons are uniformly distributed inside a nucleus and are bound together by the nuclear force while the Coulomb

Often underestimated by most executives, the service supply chain is complex and includes field service, reverse logistics, network design and critical inventory location decisions

Taimyr Airlines (NordStar airlines) and Lufthansa Technik Logistik Services (LTLS) have signed a five-year contract to provide a full Consumable Supply service (c.all ® ) for..

On December 23, 2011, Westmoreland Coal Company (the “Company”), through a wholly-owned subsidiary, entered into a Purchase and Sale Agreement (the “Purchase Agreement”)

In the proposed model, the following objective functions are introduced: minimization of the total cost of CLSC which includes xed setup costs, purchasing costs regarding materials

The purpose of this study was to evaluate the validity and reliability of the Persian version of Templer Death Anxiety Scale (TDAS) in family caregivers of cancer patients..

On 1 September 2015, CRSB, a direct non-wholly-owned subsidiary of the Company, entered into the Supply Framework Agreement with Gain Land pursuant to which the CRSB Group agreed

On 25 December 2015, Chuanglian Zhongren, a wholly-owned subsidiary of the Company, entered into the Promoters Agreement, pursuant to which, Chuanglian Zhongren intended to lend