NIMBLE HOLDINGS (00186.HK): Enters into Construction Service Framework Agreement with Annual Caps up to RMB 177 Million

NewTimeSpace News: On September 3, 2026, NIMBLE HOLDINGS COMPANY LIMITED (stock code: 00186) announced that it had entered into a construction service framework agreement with a contractor on the same day. The contractor is an associate of Mr. Tan Bingzhao, the chairman, an executive director and the controlling shareholder of the company, and the transactions contemplated thereunder constitute continuing connected transactions subject to the reporting, announcement, annual review, circular and independent shareholders' approval requirements under Chapter 14A of the Listing Rules.

Under the framework agreement, the group may from time to time invite the contractor to participate in tenders for engineering and related services, including general contracting, building and civil engineering, exterior and interior design, electrical and mechanical works, fire services, and water supply and drainage, with the term running from September 3, 2026 to March 31, 2029, effective upon approval by the independent shareholders, and pricing determined through public tender procedures with no fewer than three bidders in accordance with the PRC Tendering and Bidding Law. As the existing construction contract entered into by Zhanjiang Ruichen Real Estate Development Co., Ltd. on July 30, 2026, with an aggregate contract sum of approximately RMB 14.65 million (approximately HKD 16.94 million) for earthworks and piling works of the Zhanjiang project, is similar in nature to the transactions under the framework agreement, transactions under both contracts are aggregated, and no payment has been made to the contractor to date.

The announcement disclosed that the proposed annual caps for the years ending March 31, 2027, 2028 and 2029 are RMB 68 million (approximately HKD 78.61 million), RMB 134 million (approximately HKD 154.90 million) and RMB 177 million (approximately HKD 204.61 million), respectively. The caps were determined with reference to the group's business development strategy and project pipeline, led by the Zhanjiang project in Suixi County, Zhanjiang, Guangdong Province, which covers a site area of approximately 63,688.32 square meters with a total gross floor area of approximately 227,000 square meters; the project is expected to commence in October 2026, with the first batch of residential units launched in February 2027 and completion scheduled for early 2032. Mr. Tan and his associates, holding 4,055,892,779 shares or approximately 73.85% of the issued share capital, will abstain from voting on the resolution approving the framework agreement.

The company has established an independent board committee comprising all independent non-executive directors and appointed Gram Capital Limited as the independent financial adviser. A circular containing further details of the agreement, the committee's recommendations and the notice of the extraordinary general meeting is expected to be dispatched on or around September 15, 2026.

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