YUEXIU PROPERTY received a bank loan of 200 million RMB

YUEXIU PROPERTY (00123.HK) announced that it has entered into a financing agreement with a bank, under which the bank will provide a dual-currency term loan financing of RMB 200 million (or its equivalent in HKD) subject to the terms and conditions of the financing agreement, with a loan term of 364 days from the date of the first drawdown.

The financing agreement stipulates that if the company's controlling shareholder, YUEXIU ENTERPRISE, holds less than 30% of the voting shares of the company, either directly or indirectly, or if YUEXIU ENTERPRISE is no longer the single largest beneficial shareholder of the company, or if YUEXIU ENTERPRISE no longer exercises effective management control over the company, it will constitute an event of default. In the event of such a default, the lender may declare all debts under the financing agreement immediately due and payable. Currently, YUEXIU ENTERPRISE beneficially owns approximately 44% of the company's issued shares