REM Group (Holdings) Ltd. (HK:1750) has released an update.
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REM Group (Holdings) Ltd. has announced a new Framework Agreement through its subsidiary, Ready Electrical Metal, to supply products to Ready System (Macau) from June 2024 to December 2026. The deal is significant as both companies are connected through their shared chairman and controlling shareholder, Mr. Wan, making this a ‘continuing connected transaction’ under the Listing Rules. However, as the annual transaction value is below HK$10,000,000, shareholder approval is not required, simplifying the agreement’s execution.
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