Summary by Futu AI
CHINA JINMAO HOLDINGS GROUP LIMITED (“CHINA JINMAO”) WILL HOLD AN EXTRAORDINARY GENERAL MEETING ON 19 JUNE 2024 TO DISCUSS CONNECTED TRANSACTIONS UNDER THE LOAN AND COLLATERAL AGREEMENTS AND THE NEW LEASE FRAMEWORK AGREEMENT. The loan agreement was entered into on April 26, 2024 by a wholly-owned subsidiary of China Jinmao Direct Investment Development and Neutralization Finance. The loan involves a loan of RMB1,500,000,000 and is secured by a six-story building and an underground garage at 7 Huisuan Street, Chaoyang District, Beijing. THE NEW LEASE FRAMEWORK AGREEMENT WAS CONCLUDED BY JINMAO CHINA AND CHINA SINOBA ON 7 MAY 2024, EXTENDING THE LEASE PERIOD UNTIL 31 DECEMBER 2033 AND SETTING A MAXIMUM ANNUAL LIMIT. INDEPENDENT FINANCIAL ADVISORS CHO RICH FINANCE AND RED JAPANESE CAPITAL HAVE ADVISED THE INDEPENDENT BOARD OF DIRECTORS AND INDEPENDENT SHAREHOLDERS ON THE ABOVE TRANSACTION IN THE OPINION THAT THE TRANSACTION TERMS ARE FAIR AND REASONABLE AND IN THE OVERALL INTERESTS OF THE COMPANY AND SHAREHOLDERS.