Jinchuan International (02362) announced that Metorex (Investments) Limited (as a borrower), a wholly-owned subsidiary of the company, signed a loan agreement with a bank as the lender (the bank) for 12-month revolving loan financing with a total amount of up to 20 million US dollars.
Loan financing will be used for the general capital needs of the borrower and its affiliates. According to the loan contract, Jinchuan Group Co., Ltd. (Jinchuan Group), as the final controlling shareholder of the company, is required to maintain final control over the borrower. In case of violation, the bank's credit limit to the borrower will be terminated and/or the borrower must repay the full outstanding amount under the loan financing at the bank's request. According to section 13.18 of the listing rules, the company is required to disclose the specific performance responsibilities of the controlling shareholder of the company in the loan contract. As of the date of this announcement, Jinchuan Group indirectly held approximately 60.73% of the company's issued share capital.