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Mongolia Energy ( (HK:0276) ) has issued an update.
Mongolia Energy Corporation has renewed its logistics services framework with VVLJV for a further three-year term from 1 April 2026 to 31 March 2029, subject to approval by independent shareholders. The agreement, reached on normal commercial terms following arm’s length negotiations, is classified as a continuing connected transaction under Hong Kong listing rules because VVLJV is majority-owned by Vision Values, a company controlled by Mongolia Energy’s chairman and substantial shareholder, Mr. Lo. Given the high applicable percentage ratios, the deal requires reporting, announcement, annual review and independent shareholders’ approval, with an independent financial adviser appointed to advise investors directly, as no independent board committee can be formed due to overlapping directorships. A special general meeting will be convened for independent shareholders to vote by poll on the agreement and its annual caps, with certain directors and their associates abstaining, and a detailed circular is expected by 30 January 2026.
The most recent analyst rating on (HK:0276) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Mongolia Energy stock, see the HK:0276 Stock Forecast page.
More about Mongolia Energy
Mongolia Energy Corporation Limited is a Hong Kong-listed resources company focused on coal and related operations, relying heavily on logistics services to support its mining, transportation and export activities across its operating regions.
Average Trading Volume: 348,922
Technical Sentiment Signal: Sell
Current Market Cap: HK$131.7M
See more data about 0276 stock on TipRanks’ Stock Analysis page.