Road King Infrastructure (HK:1098) has released an update.
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Road King Infrastructure Limited has entered into a sale and purchase agreement (SPA) through its subsidiary ECL, to sell an 85.15% stake in a joint venture company to an independent third party, Shanghai Luoman, for a total consideration of up to GBP 22.825 million. ECL will receive GBP 12 million in cash upon completion of the deal. This transaction, which sees the Group exiting the joint venture, is classified as a discloseable transaction according to the Listing Rules, triggering specific reporting and announcement requirements.
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