Gelonghui, November 25, 丨 Guotai Junan International (01788.HK) announced that on November 25, 2024, the company (as a borrower) entered into several promised loan agreements with a number of banks (as lenders). The maximum amount is HK$2.15 billion in committed revolving loans. The final repayment date is 12 months from the date the loan agreement is signed.
According to the loan agreement, if Guotai Junan Securities Co., Ltd., the controlling shareholder of the company, is no longer (directly or indirectly) the largest single legal and beneficial holder of the company, or no longer controls the company, it constitutes a breach of contract. In the event of default, the lender may give the borrower notice (i) to cancel all or part of the commitment; and/or (ii) announce that all or part of the loan under the loan agreement, along with accrued interest and all other accrued or outstanding amounts, is immediately due and payable; and/or (iii) announce that all or part of the loan will be immediately repaid as required.
On the date of the announcement, Guotai Junan Securities Co., Ltd. indirectly held 7,044,877,066 shares of the company, accounting for about 73.85% of the company's total issued shares.
