China Pipe Group Limited (HK:0380) has released an update.
China Pipe Group Limited’s subsidiary Bun Kee has entered into a significant property transaction involving the renewal of a tenancy for Premises I and the leasing of new Premises II, with the total value of the right-of-use asset recognized at approximately HK$8 million. This transaction is classified as discloseable under the Listing Rules, requiring no shareholders’ approval but subject to reporting and announcement obligations. The terms of the agreements include a three-year tenancy for office space with a total rent of HK$7.2 million, excluding other charges, and a security deposit adjustment from the existing tenancy.
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