Luzhou Bank Co., Ltd. Class H (HK:1983) has released an update.
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Luzhou Bank Co., Ltd. has signed a one-year Property Services Agreement with Laojiao Property Service for a maximum yearly fee of RMB8,980,000 to provide comprehensive property services for its head office building. The deal, which was awarded through a public tender process, is classified as a continuing connected transaction due to Laojiao Property Service’s affiliation with the bank’s substantial shareholder, Luzhou Laojiao Group. This agreement is subject to reporting and annual review but does not require independent shareholder approval.
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