Rizhao Port Jurong Co. Ltd. Class H (HK:6117) has released an update.
Rizhao Port Jurong Co. Ltd. has entered into a Construction Agent Contract with its controlling shareholder, Rizhao Port Group, to manage the construction of the Rizhao Port Grain Base Project, with a management fee of RMB19,074,200 set after arm’s length negotiations. This transaction falls under connected transactions for the company but is exempt from requiring a circular and independent shareholder approval due to the transaction size.
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