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HK Bourse: Release from PYI Corp On Connected Deal -2 - Yahoo! News

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. PYI Corporation Limited (Incorporated in Bermuda with limited liability) (Stock code: 498) CONNECTED TRANSACTION DISPOSAL OF MOTOR VEHICLES, VEHICLE REGISTRATION NUMBERS AND Club MEMBERSHIP TO ITC - Disposal by PYI of five second hand motor vehicles, four vehicle registration numbers and a Club membership to ITC for HK$3.5 million, which is equivalent to comparable market value and the net book value of these non-core assets. - PYI no longer requires the disposed non-core assets following its refocus on port and infrastructure business in China and reform of the board of Directors. - The Disposal is Made on normal commercial terms, fair and reasonable and in the interests of PYI and its shareholders as a whole. - The Disposal constitutes a connected transaction for PYI under the Listing Rules and requires disclosure by way of press announcement and in PYI's next published annual report and accounts. DISPOSAL AGREEMENT The - More available

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