DISCLOSEABLE TRANSACTION PROVISION OF FINANCIAL ASSISTANCE

DISCLOSEABLE TRANSACTION PROVISION OF FINANCIAL ASSISTANCE

The Board is pleased to announce that on 17 November 2016, the Lender entered into the Loan Agreement with the Borrower pursuant to which the Lender has agreed to lend to the Borrower a loan in the principal amount of RMB110,800,000 (equivalent to HK$124,096,000) for a term of six months, which carries interest at an interest rate of 11% per annum and is secured by the Pledge and the Guarantees. IMPLICATIONS UNDER THE LISTING RULES As one or more of the applicable percentage ratios (as calculated under Rule 14.07 of the Listing Rules) in respect of the Loan are more than 5% but less than 25%, the Loan constitutes a discloseable transaction of the Company and is subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules. As the Loan exceeds 8% under the assets ratio as calculated under Rule 14.07(1) of the Listing Rules, the Loan is subject to the general disclosure obligations under Rules 13.13 and 13.15 of the Listing Rules.