Alpha Professional Indirect Unit Leases Property for HK$35 Million; Shares up 4%
MT Newswires Live
Sep 24
Alpha Professional Holdings' (HKG:0948) indirect unit, San Tai Distribution, has agreed to lease certain floor and parking spaces at the Allied Cargo Centre building in New Territories, Hong Kong, for its for HK$35 million, according to a Wednesday filing with the bourse.
The company said the agreement is valid for two years and would save its warehouse logistics business from incurring relocation costs.
Alpha Professional said it would convene a special meeting to vote on the lease transaction, and AGL's unit, a stakeholder in the company and the property's landlord, will abstain from voting.
Shares were up nearly 4% in late-morning trading on Thursday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.