Summary by Moomoo AI
Premiere Holdings signed a Financial Services Framework Agreement with Prime Steel Financial Corporation on January 26, 2024, for a period until December 31 of the same year. The agreement allows First Steel Financial Corporation to provide non-exclusive financial services, including trust services, deposit services, and other financial services, to Prime Holdings. The transaction constitutes a continuing connected transaction in accordance with Chapter 14A of the Listing Rules, as a wholly-owned subsidiary of the SEI Group and is also a major shareholder of Seizheng Holdings. Premiere Holdings said the partnership will help access more flexible and efficient financial services and support its infrastructure asset management business. The terms of service in the Agreement will be determined after fair consultation on normal commercial terms and relevant internal controls have been established to ensure the fair and reasonable nature of the transaction. The Board of Directors (including independent non-executive directors) considers that the Agreement and its transactions are in the overall best interests of the Company and its shareholders.