Esprit Holdings (HK:0330) has released an update.
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Esprit Holdings has announced the renewal of two tenancy agreements through its subsidiary, Esprit Regional Distribution, for office premises on the 29th and 26th floors with landlords Bright Majestic and Wealth Elegant, respectively. These renewals are considered connected transactions as they involve a substantial shareholder, but do not require independent shareholder approval. The new leases will result in the recognition of right-of-use assets on the company’s financial statements in accordance with IFRS 16.
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