INFORMATION OF THE GROUP AND THE LENDER. The Group is a financing service provider in Hong Kong mainly providing secured financing, including pawn loans and mortgage loans under the provisions of the Pawnbrokers Ordinance and the Money Lenders Ordinance. Oi Wah PL, as the lender of the Loan, is an indirect wholly-owned subsidiary of the Company. REASONS FOR THE ENTERING INTO OF THE LOAN AGREEMENT Having taken into account the principal business activities of the Group, the grant of the Loan to the Customer is in the ordinary and usual course of business of the Group. The terms of the Loan Agreement were negotiated on an arm’s length basis between Oi Wah PL and the Customer. The Directors consider that the grant of the Loan is financial assistance provided by the Company within the meaning of the Listing Rules. The Directors are of the view that the terms of the Loan Agreement were entered into on normal commercial terms based on the Company’s credit policy. After having taken into account the satisfactory financial background of the Customer and that a stable revenue and cashflow stream from the interest income is expected, the Directors consider that the terms of the Loan Agreement are fair and reasonable and the entering into of the Loan Agreement is in the interests of the Company and its shareholders as a whole. LISTING RULES IMPLICATIONS As one or more of the applicable percentage ratios under Rule 14.07 of the Listing Rules in respect of the amount of the Loan granted to the Customer exceeds 5% but is less than 25%, the grant of the Loan constitutes a discloseable transaction of the Company under Chapter 14 of the Listing Rules. Pursuant to Rule 14.58(2) of the Listing Rules, the identity of the Customer is required to be disclosed. Since (i) the granting of the Loan is not regarded as a material transaction of the Company as compared to the Company’s overall financial position; (ii) the Company has practical difficulties in complying with the aforesaid disclosure requirement as the Customer has confirmed to the Group that it will not consent to the disclosure of its identity in this announcement; (iii) the disclosure of the identity of the Customer does not reflect its financial standing or repayment ability and thus will serve little purpose in assisting the Shareholders to evaluate its creditworthiness and the risks and exposure of the Loan; and (iv) the Company has made alternative disclosures in respect of the Loan in this announcement, including but not limited to the details of the c...
INFORMATION OF THE GROUP AND THE LENDER. The Company is an investment holding company and is the holding company of the Group. The Group is principally engaged in publication of newspapers and money lending business. OFA is a wholly-owned subsidiary of the Company and is a licensed money lender, principally engaged in the business of money lending in Hong Kong.
INFORMATION OF THE GROUP AND THE LENDER. The Group is a financing service provider in Hong Kong mainly providing secured financing, including pawn loans and mortgage loans under the provisions of the Pawnbrokers Ordinance and the Money Lenders Ordinance. Oi Wah ML, as the lender of the Loan, is an indirect wholly-owned subsidiary of the Company. REASONS FOR THE ENTERING INTO OF THE LOAN AGREEMENT Having taken into account the principal business activities of the Group, the grant of the Loan to the Customer is in the ordinary and usual course of business of the Group. The terms of the Facility Agreement were negotiated on an arm’s length basis between Oi Wah ML and the Customer. The Directors consider that the grant of the Loan is financial assistance provided by the Company within the meaning of the Listing Rules. The Directors are of the view that the terms of the Facility Agreement were entered into on normal commercial terms based on the Company’s credit policy. After having taken into account the satisfactory financial background of the Customer and that a stable revenue and cashflow stream from the interest income is expected, the Directors consider that the terms of the Facility Agreement are fair and reasonable and the entering into of the Facility Agreement is in the interests of the Company and its Shareholders as a whole. LISTING RULES IMPLICATIONS As one or more of the applicable percentage ratios under Rule 14.07 of the Listing Rules in respect of the amount of the Loan exceeds 5% but is less than 25%, the grant of the Loan constitutes a discloseable transaction of the Company and is subject to notification and announcement requirements under Chapter 14 of the Listing Rules.
INFORMATION OF THE GROUP AND THE LENDER. The Company is a company incorporated in Hong Kong with limited liability and the shares of the Company have been listed on the Stock Exchange since 25 August 1972. The Company is an investment holding company. The principal activities of the Group include investment holding, provision of asset management services, consultancy services, financing services, securities advisory and securities brokerage services. The Lender is a company incorporated in Hong Kong with limited liability and a wholly- owned subsidiary of the Company. The Lender is principally engaged in the business of providing money lending services. INFORMATION OF THE BORROWER The Borrower is a company incorporated in Hong Kong with limited liability. It is an investment holding company for the purchase and holding of the target minority equity interest in the new energy technology company mentioned above. The ultimate beneficial owner of the Borrower is Xx. Xxxxx, who is an investor and was senior management to various listed and unlisted companies and financial institutions. To the best of the Directors’ knowledge, information and belief, and having made all reasonable enquiries, each of the Borrower and its ultimate beneficial owner is an Independent Third Party as at the date of this announcement. INFORMATION OF THE PLEDGOR The Pledgor is an affiliate of the Borrower. The Pledgor is a company incorporated under the laws of the PRC with limited liability and is principally engaged in private equity fund management. The ultimate majority beneficial owner of the Pledgor is Xx. Xxxxx Xxxxxx, a Chinese merchant and a business partner of Xx. Xxxxx. To the best of the Directors’ knowledge, information and belief, and having made all reasonable enquiries, each of the Pledgor and its ultimate beneficial owner(s) is an Independent Third Party as at the date of this announcement. DEFINITIONS In this announcement, unless the context requires otherwise, the following expressions shall have the following meanings: ‘‘Board’’ the board of Directors ‘‘Borrower’’ Daguan International Limited (達觀國際有限公司), a company incorporated in Hong Kong with limited liability and ultimately beneficially owned by Xx. Xxxxx ‘‘Company’’ China Vered Financial Holding Corporation Limited (中薇金融控股有限公司), a company incorporated in Hong Kong with limited liability, the shares of which are listed on the Main Board of the Stock Exchange ‘‘Director(s)’’ the director(s) of the Company ‘‘Facility’’ a term loan facility in the principal...
INFORMATION OF THE GROUP AND THE LENDER. The Group is a financing service provider in Hong Kong mainly providing secured financing, including pawn loans and mortgage loans under the provisions of the Pawnbrokers Ordinance and the Money Lenders Ordinance. Oi Wah PL, as the lender of the Loan, Existing Loan B, Existing Loan C and Existing Loan E, is an indirect wholly-owned subsidiary of the Company. Oi Wah CL, as the lender of Existing Loan D, is an indirect wholly-owned subsidiary of the Company. REASONS FOR THE ENTERING INTO OF THE LOAN AGREEMENT AND THE EXISTING LOAN AGREEMENT Having taken into account the principal business activities of the Group, the grant of the Loan and the Existing Loans to the Customers is in the ordinary and usual course of business of the Group. The terms of the Loan Agreement, Existing Loan Agreement B, Existing Loan Agreement C and Existing Loan Agreement E were negotiated on an arm’s length basis between Oi Wah PL and the relevant customers. The terms of Existing Loan Agreement D were negotiated on an arm’s length basis between Oi Wah CL and Customer D. The Directors consider that the grant of the Loan and the Existing Loans are financial assistance provided by the Company within the meaning of the Listing Rules. The Directors are of the view that the terms of the Loan Agreement and the Existing Loan Agreements were entered into on normal commercial terms based on the Company’s credit policy. After having taken into account the satisfactory financial background of the Customers and that a stable revenue and cashflow stream from the interest income is expected, the Directors consider that the terms of the Loan Agreement and the Existing Loan Agreements are fair and reasonable and the entering into of the Loan Agreement and the Existing Loan Agreements are in the interests of the Company and its shareholders as a whole.
INFORMATION OF THE GROUP AND THE LENDER. The Group is principally engaged in money lending business. The Group conducts money lending business solely in Hong Kong through the provision of unsecured loans and secured loans to customers, including individuals, corporations and foreign domestic workers. The Lender, being an indirect wholly-owned subsidiary of the Company, is a licensed money lender in Hong Kong under the Money Lenders Ordinance. REASONS FOR ENTERING INTO THE LOAN AGREEMENT Taking into account the principal activities of the Group, the Directors consider that the entering into of the Loan Agreement with the Borrower and the Guarantor is in the ordinary and usual course of business of the Group. The terms of the Loan Agreement (including the interest rate) are negotiated on an arm’s length basis among the parties thereto, with reference to the commercial practice and the amount of the Loan. The Directors are of the view that the terms of the Loan Agreement are normal commercial terms entered into based on the Company’s credit policy. Taking into account the satisfactory financial background of the Borrower and the Guarantor and the stable revenue and cashflow stream expected from the interest income, the Directors consider that the terms of the Loan Agreement are fair and reasonable and in the interests of the Company and its shareholders as a whole.
INFORMATION OF THE GROUP AND THE LENDER. The Group is principally engaged in money lending business. The Group conducts money lending business solely in Hong Kong through the provision of unsecured loans and secured loans to customers, including individuals, corporations and foreign domestic workers. The Lender, being an indirect wholly-owned subsidiary of the Company, is a licensed money lender in Hong Kong under the Money Lenders Ordinance. REASONS FOR ENTERING INTO THE REVOLVING LOAN AGREEMENT Taking into account the principal activities of the Group, the Directors consider that the entering into of the Revolving Loan Agreement with the Borrower and the Guarantor is in the ordinary and usual course of business of the Group. The terms of the Revolving Loan Agreement (including the interest rate) are negotiated on an arm’s length basis among the parties thereto, with reference to the commercial practice and the maximum amount of the Facility. The Directors are of the view that the terms of the Revolving Loan Agreement are normal commercial terms entered into based on the Company’s credit policy. Taking into account the satisfactory repayment record of the Borrower, financial background of the Borrower and the Guarantor and the stable revenue and cashflow stream expected from the interest income, the Directors consider that the terms of the Revolving Loan Agreement are fair and reasonable and in the interests of the Company and its shareholders as a whole.
INFORMATION OF THE GROUP AND THE LENDER. The Company is a company incorporated in the Cayman Islands with limited liability with its securities listed on the Stock Exchange (stock code: 000.xx). The Group is principally engaged in property operating business. The Lender is a company established in the PRC with limited liability and is indirectly wholly-owned by the Company. The principal business activity of the Lender is investment holding.
INFORMATION OF THE GROUP AND THE LENDER. The Group is principally engaged in (i) financial services with operations under the Securities and Futures Ordinance licenses, (ii) credit and lending services with operations under the Money Lenders Ordinance licenses, (iii) other financial services, (iv) property investment and leasing and (v) tactical and strategic investment. The Lender is a subsidiary of the Company and a licensed money lender in Hong Kong under the Money Lenders Ordinance (Chapter 163 of the laws of Hong Kong).
INFORMATION OF THE GROUP AND THE LENDER. The Group is principally engaged in money lending business. The Group conducts money lending business solely in Hong Kong through the provision of unsecured loans and secured loans to customers, including individuals, corporations and foreign domestic workers. The Lender, being an indirect wholly-owned subsidiary of the Company, is a licensed money lender in Hong Kong under the Money Lenders Ordinance. REASONS FOR ENTERING INTO THE REVOLVING LOAN AGREEMENT Taking into account the principal activities of the Group, the Directors consider that the entering into of the Revolving Loan Agreement with the Borrower, the Guarantor/Assignor and the Chargor is in the ordinary and usual course of business of the Group. The terms of the Revolving Loan Agreement (including the interest rate) are negotiated on an arm’s length basis among the parties thereto, with reference to the commercial practice and the maximum amount of the Facility. The Directors are of the view that the terms of the Revolving Loan Agreement are normal commercial terms entered into based on the Company’s credit policy. Taking into account the satisfactory financial background of the Borrower and the Guarantor/Assignor, the Guarantee, the Deeds of Assignment and the Share Charge executed in favour of the Lender and the stable revenue and cashflow stream expected from the interest income, the Directors consider that the terms of the Revolving Loan Agreement are fair and reasonable and in the interests of the Company and its shareholders as a whole.
