Annual Report 2020

082 Report of the Directors Annual Report 2020 Miramar Hotel and Investment Company, Limited (1) (b) On 25 July 2019, a lease (the “1706–1707 Lease”) was entered into between Shahdan as landlord and Union Medical as tenant, whereby Shahdan agreed to let to Union Medical the premises upon the terms as detailed below: Premises : Units 1706–1707 on the 17th Floor, Mira Place Tower A, 132 Nathan Road, Tsimshatsui, Kowloon, Hong Kong. Term : Two years and five months, commencing from 1 September 2019 to 31 January 2022 (both days inclusive). Rent and other charges : The rent payable on a monthly basis (exclusive of government rates, management fee and air-conditioning charges) (payable in advance on the 1st day of each month) during the term is HK$268,445.00; The aggregate monthly management fee and air-conditioning charges (subject to the periodic review or revision by Shahdan or its designated property manager) (payable in advance on the 1st day of each month) is HK$41,026.50; and Extra chilled water supply costs may be charged by Shahdan to Union Medical for additional chilled water supply required by Union Medical which is beyond the specified normal daily chilled water supply hours. Usage : To be used as a clinic only to be staffed by the specialist in consultation services for reproductive medicine. Union Medical is a connected person of the Company thereby rendering the 1706–1707 Lease a continuing connected transaction for the Company under Chapter 14A of the Listing Rules.