Yuexiu Property Co (DE:GUZA) has released an update.
Yuexiu Property Co has engaged in a major transaction involving the repossession and reservation of land use rights for the Jinan University North Side Land Parcel No. 2, with the transaction exceeding 25% of the company’s ratio and requiring shareholder approval. The deal, valued at RMB 5.003 billion, will be compensated with notes receivable and has already secured written approval from the majority shareholder group, negating the need for a general meeting. A circular with further details will be issued following a waiver to delay due to the preparation of financial and other pertinent information.
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