Modern Land’s Property Swap to Settle Payables

Modern Land (China) Co., Ltd. (HK:1107) has released an update.

Modern Land (China) Co., Ltd. has entered into Set-Off Agreements with First Service to settle outstanding payables through property transfers. This transaction involves a significant sum of RMB8,933,161.40 and is considered a discloseable and connected transaction under Hong Kong’s Listing Rules. Investors should note the involvement of key company figures, Mr. Zhang Peng and Mr. Zhang Lei, in the agreements.

For further insights into HK:1107 stock, check out TipRanks’ Stock Analysis page.