02:20 AM EST, 12/08/2022 (MT Newswires) -- China Vered Wealth, on Wednesday agreed to grant a HK$72 million term loan facility to Huayi Tencent Entertainment (HKG:0419).

The seven-year facility is guaranteed by Yuen Hoi Po, according to a Wednesday filing.

Huayi Tencent also granted the lender an option to subscribe for around HK$77 million worth of new shares issued by the company or those disposed of by Yuen Hoi Po or his controlled company. The lender may also convert the outstanding loan amount into new shares to be issued by Huayi Tencent and subscribe for the shares itself or through a nominee.

The option is valid for up to two years after the date of the facility agreement.

Price (HKD): $0.15, Change: $0.00, Percent Change: -1.34%