Royal Deluxe Holdings (HKG:3789) wiill be seeking shareholders' nod to renew framework agreements with GT Material and GT Scaffolding, both wholly owned by Ann Wang, who is closely related to its three directors.
These transactions qualify as continuing connected transactions under Listing Rules Chapter 14A and require independent shareholder approval since their percentage ratios exceed 5%, according to its bourse filing last Friday.
Directors Wang Kei Ming, Chao Lai Heng, and Wang Yu Hin are abstaining from voting due to their material interest in the deals, while all other directors confirmed no conflicts.
The company will soon dispatch a circular detailing the agreements and convene an extraordinary general meeting for shareholder approval within 15 business days.
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