Lygend Resources & Technology Co., Ltd. Class H (HK:2245) has released an update.
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Lygend Headquarter Management, a subsidiary of Lygend Resources & Technology Co., Ltd., has agreed to sell land use rights and ongoing construction in Ningbo City to its controlling shareholder, Lygend Investment, for RMB 57.16 million. The deal, which involves a prime commercial area, was based on arm’s length negotiations and is exempt from requiring shareholder approval due to its size relative to the company. This connected transaction reflects the company’s strategic realignments and is expected to be funded by Lygend Investment’s internal resources.
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