BOE Varitronix Limited announced that reference is made to the announcements of company dated 22 July 2022 and 29 May 2024. The Group has been conducting the Procurement Transactions with BOE Technology Group Co. Ltd. (BOE) pursuant to the Master Framework Agreement which will expire on 31 December 2025.
The Company intends to continue carrying out the Procurement Transactions for FY2026 and FY2027. On 23 December 2025 (after trading hours), the Company and BOE entered into the Renewed Master Framework Agreement, subject to the terms and conditions therein, to extend the terms of the Master Framework Agreement to 31 December 2027. Pursuant to the Renewed Master Framework Agreement, the Group may engage the BOE Group to provide Procurement Transactions from time to time during the term of the Renewed Master Framework Agreement.
The Renewed Master Framework Agreement is a framework agreement which contains the principles, mechanisms, and terms and conditions upon which the parties thereto are to carry out the transactions contemplated thereunder. The Group may from time to time enter into specific agreement, contract and/or purchase order in respect of the Procurement Transactions with the BOE Group. The terms and conditions of such specific agreement, contract and/or purchase order shall be consistent with the terms of the Renewed Master Framework Agreement.
For the avoidance of doubt, the Group and BOE Group are not contractually bound to conduct the transactions contemplated under the Renewed Master Framework Agreement with each other. The Group and the BOE Group can conduct such similar transactions with any other third parties during the term of the Renewed Master Framework Agreement. The Group intends to lease equipment and related software for a term not exceeding twelve months, which can be renewed by the parties.
The Renewed Master Framework Agreement will become effective on 1 January 2026 and expire on 31 December 2027 (both days inclusive).
