Jiangsu Expressway Co (HK:0177) has released an update.
Jiangsu Expressway Company has entered into an agreement with Xiandai R&B Company for expansion and renovation work on the Ningchang Management Office Command Center, with the transaction valued at up to RMB1,631,400. This related party transaction falls under connected transactions as per Hong Kong Listing Rules but does not require shareholder approval, and the company’s directors deem it fair and not affecting company independence. The transaction is considered routine business with no impact on company profits or shareholder interests.
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