Kinetic Mines & Energy Ltd. (HK:1277) has released an update.
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Kinetic Mines & Energy Ltd. has announced a connected transaction involving an Aircraft Sub-Sub-Lease Agreement between Kinetic (Asia) and Wealth Galaxy, with the latter being an associate of the company’s controlling shareholder, Mr. Zhang Liang, Johnson. This leasing agreement is significant as it involves parties with existing interests in the company and falls within the reporting requirements of the Hong Kong Stock Exchange regulations. The transaction is exempt from the need for independent shareholder approval due to its size relative to the company’s scale.
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