Yueyun Transportation’s Acquisition Bid Rejected by Shareholders

Guangdong Yueyun Transportation Co., Ltd. Class H (HK:3399) has released an update.

Guangdong Yueyun Transportation Co., Ltd. reported that its proposed acquisition of a 4.44% equity stake in Guangdong Top-E Expressway Service Zone Limited was rejected by shareholders at its First Extraordinary General Meeting on July 30, 2024. Despite majority shareholder abstention due to material interest in the deal, the resolution failed to pass with over 54% of votes against the equity transfer contract. The voting result signifies a potential shift in investor sentiment or strategic direction for the company.

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