An announcement from Country Garden Services Holdings Co ( (HK:6098) ) is now available.
Country Garden Services Holdings Co announced a connected transaction involving the provision of financial assistance through a loan agreement and a deed of share charge with Concrete Win and Fortune Warrior, companies wholly owned by a substantial shareholder, Ms. Yang. The company agreed to provide revolving loan facilities amounting to RMB1 billion to these entities, which will be used for the ‘guaranteed delivery of houses’ by CG Holdings’ PRC subsidiaries. The transaction is considered a connected transaction under Hong Kong’s Listing Rules, requiring reporting and announcement but exempt from independent shareholders’ approval. This move is seen as a strategic financial assistance measure to support the company’s operations and enhance stakeholder interests.
More about Country Garden Services Holdings Co
Country Garden Services Holdings Co is a company incorporated in the Cayman Islands, primarily engaged in providing property management services. The company operates within the real estate industry, focusing on property management and related services, and is listed on the Hong Kong Stock Exchange under the stock code 6098.
Average Trading Volume: 27,509,657
Technical Sentiment Signal: Buy
Current Market Cap: HK$23.7B
Learn more about 6098 stock on TipRanks’ Stock Analysis page.