Summary by Futu 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. The loan has a term of 36 months. The financing agreement also stipulates that if the shareholding ratio of Yuexiu Enterprise (Group) Co., Ltd., the controlling shareholder of Yuexiu Property, falls below 30%, or if it is no longer the largest beneficial shareholder, or if it 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 Enterprise holds approximately 44% of the issued shares of Yuexiu Property. The announcement was issued by the company secretary, Yu Da Feng, and a list of board members was provided.
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