BRIGHT SMART (01428.HK): Terminates Connected Transactions on Three Tenancy Agreements, Vacates Properties and Parking Spaces

NewTimeSpace News: On August 31, 2026, Bright Smart Securities & Commodities Group Limited (stock code: 01428) announced that its indirect wholly-owned subsidiary Yu Wah Limited (as tenant) has entered into three separate tenancy surrender agreements with Wai Mei Limited, Yat Cheong Limited and Yan Ka Investment Limited (as landlords, each wholly owned by Mr. Yip) to terminate, effective August 31, 2026, the Pok Fu Lam tenancy agreement, the Fook Hei Court parking space tenancy agreement and the Wui Ho Court parking space tenancy agreement.

According to the announcement, Mr. Yip resigned as Chairman of the Company's Board on April 9, 2026 and as a Director on April 10, 2026. Under the surrender agreements, after the parties hand back vacant possession of the leased properties and parking spaces on August 31, 2026 and settle all rent up to and including that date, each party will release the others from all claims, demands and liabilities under the relevant tenancy agreements. The landlords will refund the corresponding deposit balances (if any) without interest within three days thereafter, and neither party is required to pay any termination fee or other compensation for the early termination.

In respect of this termination, the Board considered that terminating the connected transactions constituted by the relevant tenancy agreements is in the overall best interests of the Company and its shareholders, and will not have any material impact on the Group's business operations or financial position.

The source of this information is the HKEX announcement.

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