Asiaray Media Group Ltd. (HK:1993) has released an update.
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Asiaray Media Group Ltd. has secured exclusive rights for advertising and media operations at Haikou Meilan International Airport, in a deal requiring the company to pay concession fees of up to RMB 65 million over two years, with a potential three-year renewal. This transaction, which falls between 5% and 25% of the company’s asset ratio, mandates disclosure under Chapter 14 of the Listing Rules but does not require shareholder approval. The agreement will see these exclusive rights recognized as right-of-use assets in Asiaray’s consolidated financial statements.
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