Star Group (01941) announced that on September 26, 2023, Hongkun Ruibang (an indirect wholly-owned subsidiary of the company) (as transferee) and Beijing Ruihongda (as transferor) entered into a transfer agreement, which Beijing Ruihongda agreed to transfer. Hongkun Ruibang agreed to acquire the right to use the property from the date on which the transfer agreement and its proposed acquisitions are approved by shareholders in accordance with the listing rules until June 30, 2041. The consideration is RMB 36.8469 million, which will be offset by the total refundable deposit owed by Wuxi Yongqing to Hongkun Ruibang Wuxi on the date of the transfer agreement. And the total amount of outstanding trade receivables of Wuxi Yongqing Group as at the date of the transfer agreement.
It is reported that the property is located in the office building of Block D, Hongkun Xindu, No. 8 Hongfu Road, Xihongmen Town, Daxing District, Beijing, China, with a total construction area of 10800 square meters.