Shenguan Holdings (Group) Limited (HK:0829) has released an update.
Shenguan Holdings (Group) Limited has announced the signing of three separate three-year tenancy agreements for various subsidiaries with a connected landlord, effective from July 2024 to June 2027. These connected transactions are exempt from shareholder approval as they fall below the 5% threshold, and they will result in the recognition of a right-of-use asset on the company’s financial statements. The agreements are part of the company’s asset acquisition strategy and comply with the Listing Rules and HKFRS 16 ‘Leases’.
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