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Star Group Company Limited ( (HK:1560) ) has provided an update.
Star Group Asia Limited announced a discloseable transaction involving the subscription of a key man insurance policy for Mr. Chan Man Fai Joe, an executive director. The policy, taken out by the company’s subsidiary Metropolitan Wine Cellar Limited, involves an initial premium of approximately US$2.8 million, partially financed through a loan from China CITIC. The policy ensures a death benefit of US$2.94 million and includes provisions for changing the insured person if Mr. Chan leaves the company. This transaction, exceeding 5% of applicable percentage ratios under Hong Kong’s Listing Rules, highlights the company’s strategic risk management and financial planning efforts.
More about Star Group Company Limited
Star Group Asia Limited is a company incorporated in the Cayman Islands with limited liability, operating under the stock code 1560. The company is involved in various business activities, although specific industry and market focus details are not provided in the announcement.
Average Trading Volume: 119,172
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$69.28M
For a thorough assessment of 1560 stock, go to TipRanks’ Stock Analysis page.