Jiangsu Expressway Co (HK:0177) has released an update.
Jiangsu Expressway Company Limited has announced a series of related party transactions with Communications Media Company, involving renovations and upgrades to facilities and construction projects, capped at RMB 6.44 million and RMB 2.1324 million respectively. These transactions, overseen by their common controlling entity, Jiangsu Communications Holding, fall below the 0.5% net assets threshold, thus exempting them from disclosure requirements and independent shareholder approval. Company directors assure these dealings are in the normal course of business and in the shareholders’ best interests.
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