Zhitong Financial App News, Dingshi Capital (00804) announced that on October 6, 2023, Dingshi Capital Group, an indirect wholly-owned subsidiary of the company, entered into a loan agreement with the borrower, Mr. Victor WOOD, who agreed to lend the borrower a loan of HK $19 million at an annual interest rate of 16% for a period of 6 months from the date of the loan agreement.
The terms of the loan agreement (including interest rate) are determined by the lender and the borrower after fair negotiation in accordance with normal commercial terms with reference to existing market practices. Having considered the financial background and repayment ability of the borrower and guarantor, the directors expect that the loan will generate interest income and it is believed that it will bring stable income and cash flow to the Group. The directors consider and believe that the terms of the loan agreement are fair and reasonable and that the conclusion of the loan agreement is in the overall interests of the company and its shareholders.