Cosmopol Int'l (COSMOPOL INT'L) and its wholly-owned subsidiary, Bizwise Investments Limited (the borrower), and Long Profits Investments Limited (the lender, a wholly-owned subsidiary of the Rich Group), signed a second supplemental agreement on September 3, 2024, amending the terms of the 2021 financing agreement. The amendments include changes to the interest rate and an extension of the loan maturity date to October 12, 2027. This transaction is a major and related party transaction of the Rich Group, as well as a related party transaction of Cosmopol, which is subject to compliance with listing rules and obtaining approval from independent shareholders. The relevant circular is expected to be sent to shareholders on or before September 25, 2024. This amendment reflects the weakness in the...Show More

Cosmopol Int'l (COSMOPOL INT'L) and its wholly-owned subsidiary, Bizwise Investments Limited (the borrower), and Long Profits Investments Limited (the lender, a wholly-owned subsidiary of the Rich Group), signed a second supplemental agreement on September 3, 2024, amending the terms of the 2021 financing agreement. The amendments include changes to the interest rate and an extension of the loan maturity date to October 12, 2027. This transaction is a major and related party transaction of the Rich Group, as well as a related party transaction of Cosmopol, which is subject to compliance with listing rules and obtaining approval from independent shareholders. The relevant circular is expected to be sent to shareholders on or before September 25, 2024. This amendment reflects the weakness in the Chinese mainland real estate market and the impact of government support policies on market stability. The Cosmopol Group is mainly engaged in property development and investment in China, while the Rich Group is involved in hotel business, property development, and other investments. The amendment to this loan agreement is aimed at providing greater flexibility to the Cosmopol Group to respond to market recovery and manage medium-term cash flow.