Jutal Offshore Oil Services (HK:3303) has released an update.
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Jutal Offshore Oil Services Limited has entered into an agreement with Suzhou Hengsheng, a subsidiary of a major shareholder, for services valued at approximately RMB 10.04 million over a 24-month period. This deal is classified as a connected transaction under the Listing Rules, due to the shared ownership by substantial shareholder Beijing Haixin. While the agreement and a previous similar agreement are subject to reporting and announcement obligations, they are exempt from the requirement for an independent shareholders’ approval.
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