China New City Commercial Development Ltd (HK:1321) has released an update.
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China New City Commercial Development Ltd has announced the establishment of an independent board committee and the appointment of Lego Corporate Finance Limited as the independent financial adviser to oversee its Share Buy-Back program. The newly formed committee is composed of non-executive Directors with no interests in the buy-back, ensuring impartiality. A detailed circular with recommendations from the committee and advice from the financial adviser will be forthcoming to shareholders.
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