New World Development (HK:0017) has released an update.
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New World Development has announced the sale of Target Companies and the grant of Rights to a company owned by Dr. Adrian Cheng, alongside a Trademark Licensing Agreement for a term of 30 years, with the possibility of renewal. These transactions are considered connected and continuing connected transactions under the Listing Rules, subject to various reporting, announcement, and review requirements. Although these transactions exceed certain percentage ratios, they are exempt from the need for independent shareholder approval.
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