Tianjin Tianbao Energy Co., Ltd. Class H (HK:1671) has released an update.
Tianjin Tianbao Energy Co., Ltd. has announced a new procurement deal through its subsidiary, Lingang Thermal Power, to secure natural gas from a connected supplier. The contract, effective from May 24, 2024, to March 31, 2025, stipulates supply terms and pricing policies negotiated at arm’s length, with prices not to exceed those of similar market transactions. This transaction falls under the purview of reporting and review requirements of the Listing Rules but is exempt from the need for shareholder approval.
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