The controlling shareholder of CHINAVTM MINING has mortgaged over 10% of its shares

CHINAVTM MINING (00893.HK) announced that it has been informed by its controlling shareholder, Hechuang International, that a pledge of company shares has been made, involving a total of 242 million shares, which accounts for approximately 10.79% of the total issued shares. The beneficiaries include a financial institution that has entered into financing agreements with several joint ventures of Hechuang International.

CHINAVTM MINING stated that this guarantee arrangement does not involve the company and the group, and it is understood that Hechuang International is currently discussing potential debt restructuring arrangements with the financial institution, including the sale of pledged shares under the guarantee arrangement