Gelonghui, April 12, 丨 Xingzheng International (06058.HK) announced that on April 12, 2024, the company (as the borrower) signed a financing letter with a bank (as the lender). Based on this, the lender agreed to provide the company with revolving loan financing of up to 25 million US dollars. The term of the financing letter is 12 months from the effective date of the contract.
According to the requirements of the financing letter, if Societe Generale Securities, the controlling shareholder of the company, no longer maintains ownership (whether directly or indirectly) of at least 51% of the company's issued share capital, it constitutes a breach of contract.