Summary by Moomoo AI
Pinleaf Education announced that its subsidiary CIS Pte Ltd and the creditor signed a transitional fixed-term loan financing agreement on 24 January 2024, with a total amount of not more than NIS 3 (approximately HK$17.54). The transitional financing will be used to refinance all of the Group's existing liabilities, pay associated costs and redeem convertible bonds. The Agreement provides that if Mr. Shi-Leung is no longer the direct or indirect single largest shareholder of the Company, a change of control event will occur and the creditor may immediately cancel the financing and request immediate payment of outstanding loans and related securities. Mr. Jen and his trustee Sherman Investment Holdings Limited currently hold approximately 52.92% and 49.53% of the Company's shares. THE COMPANY WILL DISCLOSE RELEVANT LIABILITIES IN SUBSEQUENT INTERIM AND ANNUAL REPORTS UNTIL THEY NO LONGER APPLY.