Summary by Moomoo AI
Yuexiu Properties Co., Ltd. (“Yuexiu Properties”) announced on 7 May 2024 that it had entered into a Supplementary Financing Agreement with the Lender to amend the financing terms of the HKD500,000,000 Term Loan previously announced on 20 December 2023. Under the new Supplemental Financing Agreement, the final maturity date of the financing will be extended to February 3, 2025. In addition, the financing agreement contains the shareholding and management covenants that Yuxiu Properties must comply with. If the holding of Yuxiu Properties falls to less than 30% of its controlling shareholder or is no longer the single largest beneficial shareholder, or no longer exercises effective management control over Yuxiu Properties, it will constitute a default event and the lender has the right to declare all liabilities Pay as soon as due. At present, Yuexiu Corporate Benefit owns approximately 43.39% of the issued shares in Yuexiu Properties. Yuexiu Properties will continue to disclose this in its subsequent interim and annual reports in accordance with section 13.21 of the Listing Rules.