China Bright Culture Group Announces Connected Transactions

China Bright Culture Group (HK:1859) has released an update.

China Bright Culture Group has disclosed connected transactions involving financial assistance provided by Mr. Liu, a former executive Director and CEO, to a connected person. The transactions included a RMB10,000,000 loan secured by guarantees from subsidiaries Zhongguang Yusheng and Shanghai Yusheng. These transactions are subject to reporting and announcement requirements but are exempt from the need for independent shareholder approval.

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