Texwinca Holdings (HK:0321) has released an update.
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Texwinca Holdings’ subsidiary Guangzhou POSTech has secured a lucrative deal, entering a Resumption Compensation Agreement for approximately RMB98.17 million (equivalent to HK$106.02 million) with GDD Key Project Promotion Centre for land and buildings in Guangdong Province. This transaction is significant for the company as it exceeds a 5% ratio threshold, making it a discloseable event under the Hong Kong Stock Exchange Listing Rules, thus requiring public disclosure and adherence to specific notification protocols. The compensation, aligned with the asset’s appraised value, will support the subsidiary’s relocation expenses and includes a structured payment plan post-relocation and land rights transfer.
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