ITC Properties Group Limited (HK:0199) has released an update.
ITC Properties Group Limited has announced the sale of a 50% equity stake in Bayshore Ventures JV Ltd., which includes The Westin Bayshore property, for CAD 18.5 million (around HK$105 million). The disposal is classified as a major transaction according to the Listing Rules, requiring shareholder approval, which the company plans to secure through written consent instead of a physical meeting. A circular with further details will be provided to shareholders within the extended deadline of 25 September 2024.
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