Shangri-La Asia (HK:0069) has released an update.
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Shangri-La Asia Limited has revised the annual caps for fees receivable under its Hotel Services Agreements due to the supplemental agreements signed on 5 July 2024, which extend and enhance the terms of its existing Hotel Management and Training Services Agreements and introduce a new Proprietary Technology Services Agreement. These supplemental agreements, involving subsidiaries of Shangri-La and an associate of a substantial shareholder, remain within the reporting requirements but exempt from independent shareholders’ approval as they do not exceed 5% of the applicable Percentage Ratios. Detailed financial impacts of these changes will be disclosed in the company’s future annual reports and financial statements.
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