Lygend Resources & Technology Co., Ltd. Class H (HK:2245) has released an update.
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Lygend Resources & Technology Co., Ltd. has adapted to Indonesia’s new policy limiting foreign shareholding in shipping companies by restructuring the JV Company’s ownership, with a new shareholders agreement between HBW and LSJ. This transaction, which bypasses the need for shareholder approval due to its minimal impact on share ratios, ensures regulatory compliance and reorganizes the JV Company’s board. The new ownership framework is a strategic response to accommodate the JV Company’s business development needs and future expansion plans.
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