SITC (01308) announced that on April 27, 2026, its wholly-owned subsidiary SITC Shipowning entered into a sale and purchase agreement with SITC Container Shipping. Under the agreement, SITC Shipowning will sell 100% of the issued share capital of SITC Subic Shipping Company Limited for a consideration of approximately $12.16 million. The target company is primarily engaged in the ownership of container vessels. On the same day, the target company, as the lessor, and SITC Shipowning, as the lessee, signed a bareboat charter agreement. According to the terms, the target company agreed to lease the vessel to SITC Shipowning for a period of 15 years starting from the date of the agreement. The daily charter fee is $2,221.54, equivalent to approximately HK$17,328.01. The total charter fee under the bareboat charter agreement amounts to about $12.16 million, payable in a lump sum in cash on the date the agreement takes effect.