Talent Property Group Limited (HK:0760) has released an update.
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Talent Property Group Limited has announced its subsidiary Yongxiang has agreed to accept a reduced dividend from Guangzhou Xintian, with whom they hold a 30% stake, in a shareholder resolution that also initiates the voluntary winding up of Guangzhou Xintian. The settlement, which will see Yongxiang receive RMB48.5 million instead of the initially entitled RMB99 million, is deemed commercially sensible by the Board and not expected to materially affect the company’s financial position or operations. The agreement comes after a decade-long redevelopment project and considers various costs and stakeholder relationships.
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