Zhejiang Expressway Co (DE:ZHJ) has released an update.
Zhejiang Expressway Co has announced the signing of both a Building Construction Agreement and a Civil Engineering Agreement with connected subsidiaries of its controlling shareholder, Communications Group, for the reconstruction and expansion of the Ningbo-Jinhua Expressway. The Building Construction deal spans 43 months, while the Civil Engineering contract includes 39 months of construction work followed by 120 months of maintenance. These transactions fall under the reporting and announcement requirements of the Listing Rules due to their percentage ratios, but do not require independent shareholder approval.
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