Summary by Moomoo AI
Yuexiu Property Limited ("Yuexiu Property") announced on September 16, 2024 that it has signed a financing agreement with a bank. According to the terms of the agreement, the bank will provide a revolving loan financing of up to HKD 312,000,000, with a loan period of 36 months. The financing agreement also stipulates that if Yuexiu Property's controlling shareholder Yuexiu Enterprises (Group) Co., Ltd. holds a stake of less than 30%, is no longer the largest beneficial shareholder, or no longer exercises management control over Yuexiu Property, it will constitute a default event and the lender has the right to declare all debts due immediately. Currently, Yuexiu Enterprises holds approximately 44% of the issued shares of Yuexiu Property. The announcement was issued by Company Secretary Yu Da Feng, and the list of board of directors members was also included.