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Plover Bay Technologies Ltd. ( (HK:1523) ) has provided an announcement.
Plover Bay Technologies’ indirect wholly owned subsidiaries Pegatrack and PismoTech have renewed leasing arrangements with entities owned by chairman and controlling shareholder Mr. Chan, securing office, warehouse and product development premises for a further two-year term from 1 January 2026 to 31 December 2027. The transactions, which will result in recognition of right-of-use assets of about HK$17.82 million under HKFRS 16, are classified as connected transactions under Hong Kong listing rules and therefore require announcement and reporting but are exempt from circular and independent shareholders’ approval, underscoring the group’s continued reliance on related-party properties while maintaining regulatory compliance.
The most recent analyst rating on (HK:1523) stock is a Buy with a HK$7.00 price target. To see the full list of analyst forecasts on Plover Bay Technologies Ltd. stock, see the HK:1523 Stock Forecast page.
More about Plover Bay Technologies Ltd.
Plover Bay Technologies Ltd., listed in Hong Kong, operates through subsidiaries including Pegatrack and PismoTech, using leased premises for office, warehouse and product development functions to support its technology-related operations.
Average Trading Volume: 750,353
Technical Sentiment Signal: Buy
Current Market Cap: HK$6.48B
Learn more about 1523 stock on TipRanks’ Stock Analysis page.