Maike Tube Industry to Vote March 24 on Proposed Subsidiary Disposal

MT Newswires Live

Mar 04

Maike Tube Industry Holdings (HKG:1553) will convene an extraordinary general meeting on March 24 to vote on the disposal of a subsidiary and terms of the group's new product supply and purchase agreements with Meide Group, a Friday Hong Kong bourse filing said.

Zijing Capital, an independent financial advisor of the company, found the transactions to be on normal commercial terms, fair, and reasonable.

The company's subsidiary Jinan Mech Piping Technology intends to sell the entire equity interest in Shandong Maike Smart Technology to Meide Group for 45 million yuan.

The company also renewed its product supply and purchase agreements with Meide Group for another three years, from Jan. 1, 2025, to Dec. 31, 2027.

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