Ulferts International Secures New Tenancy Deal

Ulferts International Limited (HK:1711) has released an update.

Ulferts International Limited has entered into a one-year tenancy agreement with connected party Palace Express, without requiring shareholder approval, for retail and carpark space at a monthly effective rent of HK$280,875. The deal falls within the reporting and review thresholds set by the Listing Rules due to its size. The company’s directors believe the agreement terms are in the shareholders’ best interests and have been negotiated at arm’s length based on market rental rates.

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