Forebase International : ANNOUNCEMENT IN RELATION TO SECOND SUPPLEMENTAL LETTER TO SHAREHOLDERS' LOAN AGREEMENT
December 20, 2019 at 09:41 am
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FOREBASE INTERNATIONAL HOLDINGS LIMITED
申 基 國 際 控 股 有 限 公 司
(Incorporated in Hong Kong with limited liability)
(Stock Code: 2310)
ANNOUNCEMENT IN RELATION TO
SECOND SUPPLEMENTAL LETTER TO SHAREHOLDERS' LOAN
AGREEMENT
Reference is made to the announcement (the "Joint Announcement") dated 30 October 2019 issued by Great Match International Limited and Rich Vision Developments Limited in relation to, among others, the loan agreement dated 8 October 2019 (as amended and varied by a supplemental letter dated 30 October 2019, the "Shareholders' Loan Agreement") in relation to the provision of the loan in the aggregate principal amount of HK$10,000,000. Capitalised terms used herein shall have the same meanings as those defined in the Joint Announcement unless the context otherwise requires.
The board of directors of Forebase International Holdings Limited (the "Company") is pleased to announce that on 20 December 2019, the Company entered into the second supplemental letter with Great Match and Rich Vision to further amend and vary certain terms of the Shareholders' Loan Agreement, pursuant to which:-
the principal amount of the Shareholders' Loan shall be increased to HK$20,000,000, among which the total commitment of Great Match shall be HK$10,000,000 (representing 50% of the maximum amount of the Shareholder's Loan) and the total commitment of Rich Vision shall be HK$10,000,000 (representing 50% of the maximum amount of the Shareholder's Loan), respectively;
the availability period shall be extended to a period ending on 27 November 2020 (or such later date as may be agreed by Great Match and Rich Vision); and
the repayment date is extended to (i) 30 November 2020; or (ii) the date of occurrence of an event of default, whichever is the earliest (or such later date as may be agreed by Great Match and Rich Vision).
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Save and except for the aforesaid and the corresponding and consequential changes, all other terms of the Shareholders' Loan Agreement (as amended and varied) shall remain unchanged and continue in full force and effect.
By order of the Board
Forebase International Holdings Limited
LEUNG TAK CHEE FRANKIE
Company Secretary
Hong Kong, 20 December 2019
As at the date hereof, the executive Directors are Ms. YEUNG So Mui, Mr, CHOi Yun Chor, Mr. NG Kwai Wah Sunny, Mr. CHEN Jian, Mr. TAI Kwok Keung Kenny and Mr.LIN Junwei; and the independent non-executive Directors are Ms. LAI Cheuk Yu Cherrie, Mr. TING Wong Kacee, Dr. LOKE Yu (alias LOKE Hoi Lam).
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Forebase International Holdings Ltd. published this content on 20 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 December 2019 09:40:07 UTC
Times Universal Group Holdings Ltd, formerly Forebase International Holdings Ltd, is an investment holding company principally engaged in the operation of hotels and the provision of property management services. The company operates its business through two segments. The Hotel Operation segment is engaged in the operation of a resort in Canada. The Properties Management segment is engaged in properties management in People's Republic of China (PRC). Its property projects include villas, office buildings, hotels, residential properties and industrial parks. In addition, the Company is also involved in the provision of administrative support to group companies in Hong Kong.