Sterling GP (01825) announced that the company is negotiating with TriTech and JPO to finalize a loan agreement...
The Sterling GP (01825) announced that the company is currently negotiating with TriTech and JPO to finalize a loan agreement, including the main terms of the agreement and the second agreement. As of the date of this announcement, the company has agreed to the main terms of the loan agreement, the agreement and the second agreement with TriTech and JPO, but has not yet reached an agreement on the amount of personal guarantee provided by Ms. Wang Meihui to support the company's bank financing (up to approximately HKD 0.121 billion on July 29, 2024) and the 2-storey office building owned by Ms. Wang (valued at approximately HKD 0.12 billion based on the valuation dated on March 31, 2023). The Board of Directors of the Company announced that (1) on July 25, 2024, the company issued a payment notice to JPO, requesting payment of the outstanding balance of approximately USD 3.783 million (including an advance of USD 1.0128 million); and (2) on July 26, 2024, the company issued a payment notice to TriTech, requesting payment of the outstanding balance of USD 18.08 million (including an advance of USD 3.2 million) to the Group.
As of the date of this announcement, the company has not received any response from JPO or tritech, and the company will continue to actively contact tritech and JPO regarding repayment and the terms of the loan agreement and the first and second agreements. The company will issue another announcement on the progress of the above payment notices and the conclusion of the loan agreement and the first and second agreements at an appropriate time.
