Yuexiu Property Co (DE:GUZA) has released an update.
Yuexiu Property Co has agreed to a major transaction involving the surrender of the Guanglong Land Parcels to Guangzhou LDC for a compensation of RMB7 billion, subject to final adjudication terms. This transaction is significant as it requires shareholder approval and has implications under Chapter 14 of the Listing Rules, though the company has already secured written approval from a majority shareholder group, avoiding the need for a general meeting. Shareholders and potential investors are advised to exercise caution as the transaction is conditional and may still be subject to change.
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