Seacon Shipping Group Holdings Ltd. (HK:2409) has released an update.
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Seacon Shipping Group Holdings Ltd. has entered into a finance lease arrangement involving the transfer of rights and obligations for a vessel under construction, from its subsidiary to another party, the Owner, who will now pay the shipbuilder directly. The arrangement, which exceeds 5% of the company’s value but is less than 25%, is classified as a discloseable transaction that will adhere to the reporting and announcement requirements stated in the Listing Rules. This strategic financial maneuver was conducted through negotiations and is designed to meet the Group’s financing needs without additional payments for the vessel.
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