P.B. Group (08331) announces that on July 30, 2024, its subsidiary in Wuhu (a wholly-owned subsidiary of the company) has entered into a renewal agreement to extend the agreement for 2023. The Wuhu subsidiary agrees to provide financial guarantee to the borrower (Wuhu Haiyuan Copper Co., Ltd.) by pledging its total deposit amount of RMB 20 million, in order to facilitate the borrower to obtain a loan of RMB 19 million provided by the lending bank. As a return, the Wuhu subsidiary will receive 6% of the amount pledged as a guarantee fee.
According to the announcement, the borrower's annual guarantee fee, together with the normal bank deposit interest income under the renewal agreement, can bring stable income to the group. The directors have made all reasonable inquiries and are deeply aware, fully informed, and confident that the borrower's renewal of the loan from the lending bank is for operating capital purposes.
P.B. Group (08331) announces that on July 30, 2024, its subsidiary in Wuhu (a wholly-owned subsidiary of the company) has entered into a renewal agreement to extend the agreement for 2023. The Wuhu subsidiary agrees to provide financial guarantee to the borrower (Wuhu Haiyuan Copper Co., Ltd.) by pledging its total deposit amount of RMB 20 million, in order to facilitate the borrower to obtain a loan of RMB 19 million provided by the lending bank. As a return, the Wuhu subsidiary will receive 6% of the amount pledged as a guarantee fee.
