INFORMATION OF THE GROUP AND THE LENDER. The Company is an investment holding company and is the holding company of the Group. The Group is principally engaged in publication of newspapers and money lending business. OFA is a wholly-owned subsidiary of the Company and is a licensed money lender, principally engaged in the business of money lending in Hong Kong.
INFORMATION OF THE GROUP AND THE LENDER. The Group is a financing service provider in Hong Kong mainly providing secured financing, including pawn loans and mortgage loans under the provisions of the Pawnbrokers Ordinance and the Money Lenders Ordinance. Oi Wah PL, as the lender of the Loan, is an indirect wholly-owned subsidiary of the Company. Having taken into account the principal business activities of the Group, the grant of the Loan to the Customer is in the ordinary and usual course of business of the Group. The terms of the Loan Agreement were negotiated on an arm’s length basis between Oi Wah PL and the Customer. The Directors consider that the grant of the Loan is financial assistance provided by the Company within the meaning of the Listing Rules. The Directors are of the view that the terms of the Loan Agreement were entered into on normal commercial terms based on the Company’s credit policy. After having taken into account the satisfactory financial background of the Customer and that a stable revenue and cashflow stream from the interest income is expected, the Directors consider that the terms of the Loan Agreement are fair and reasonable and the entering into of the Loan Agreement is in the interests of the Company and its shareholders as a whole. As one or more of the applicable percentage ratios under Rule 14.07 of the Listing Rules in respect of the amount of the Loan granted to the Customer exceeds 5% but is less than 25%, the grant of the Loan constitutes a discloseable transaction of the Company under Chapter 14 of the Listing Rules. Pursuant to Rule 14.58(2) of the Listing Rules, the identity of the Customer is required to be disclosed. Since (i) the granting of the Loan is not regarded as a material transaction of the Company as compared to the Company’s overall financial position; (ii) the Company has practical difficulties in complying with the aforesaid disclosure requirement as the Customer has confirmed to the Group that it will not consent to the disclosure of its identity in this announcement; (iii) the disclosure of the identity of the Customer does not reflect its financial standing or repayment ability and thus will serve little purpose in assisting the Shareholders to evaluate its creditworthiness and the risks and exposure of the Loan; and (iv) the Company has made alternative disclosures in respect of the Loan in this announcement, including but not limited to the details of the collateral and the loan-to- value ratio of the collateral in respect of the Loan...
INFORMATION OF THE GROUP AND THE LENDER. The Group is a financing service provider in Hong Kong mainly providing secured financing, including pawn loans and mortgage loans under the provisions of the Pawnbrokers Ordinance and the Money Lenders Ordinance. Oi Wah ML, as the lender of the Loan, is an indirect wholly-owned subsidiary of the Company. Having taken into account the principal business activities of the Group, the grant of the Loan to the Customer is in the ordinary and usual course of business of the Group. The terms of the Facility Agreement were negotiated on an arm’s length basis between Oi Wah ML and the Customer. The Directors consider that the grant of the Loan is financial assistance provided by the Company within the meaning of the Listing Rules. The Directors are of the view that the terms of the Facility Agreement were entered into on normal commercial terms based on the Company’s credit policy. After having taken into account the satisfactory financial background of the Customer and that a stable revenue and cashflow stream from the interest income is expected, the Directors consider that the terms of the Facility Agreement are fair and reasonable and the entering into of the Facility Agreement is in the interests of the Company and its Shareholders as a whole. As one or more of the applicable percentage ratios under Rule 14.07 of the Listing Rules in respect of the amount of the Loan exceeds 5% but is less than 25%, the grant of the Loan constitutes a discloseable transaction of the Company and is subject to notification and announcement requirements under Chapter 14 of the Listing Rules.
INFORMATION OF THE GROUP AND THE LENDER. The Group is principally engaged in money lending business. The Group conducts money lending business solely in Hong Kong through the provision of unsecured loans and secured loans to customers, including individuals, corporations and foreign domestic workers. The Lender, being an indirect wholly-owned subsidiary of the Company, is a licensed money lender in Hong Kong under the Money Lenders Ordinance. Taking into account the principal activities of the Group, the Directors consider that the entering into of the Revolving Loan Agreement with the Borrower and the Guarantor is in the ordinary and usual course of business of the Group. The terms of the Revolving Loan Agreement (including the interest rate) are negotiated on an arm’s length basis among the parties thereto, with reference to the commercial practice and the maximum amount of the Facility. The Directors are of the view that the terms of the Revolving Loan Agreement are normal commercial terms entered into based on the Company’s credit policy. Taking into account the satisfactory repayment record of the Borrower, financial background of the Borrower and the Guarantor and the stable revenue and cashflow stream expected from the interest income, the Directors consider that the terms of the Revolving Loan Agreement are fair and reasonable and in the interests of the Company and its shareholders as a whole.
INFORMATION OF THE GROUP AND THE LENDER. The Group is a financing service provider in Hong Kong mainly providing secured financing, including pawn loans and mortgage loans under the provisions of the Pawnbrokers Ordinance and the Money Lenders Ordinance. Oi Wah PL, as the lender of the Loan, is an indirect wholly-owned subsidiary of the Company. Having taken into account the principal business activities of the Group, the advance of the Loan to the Customer is in the ordinary and usual course of business of the Group. The terms of the Framework Loan Agreement were negotiated on an arm’s length basis between Oi Wah PL and the Customer. The Directors consider that the advance of the Loan is financial assistance provided by the Company within the meaning of the Listing Rules. The Directors are of the view that the terms of the Framework Loan Agreement were entered into on normal commercial terms based on the Company’s credit policy. After having taken into account the satisfactory financial background of the Customer and that a stable revenue and cashflow stream from the interest income is expected, the Directors consider that the terms of the Framework Loan Agreement are fair and reasonable and the entering into of the Framework Loan Agreement is in the interests of the Company and its shareholders as a whole. As one or more of the applicable percentage ratios under Rule 14.07 of the Listing Rules in respect of the amount of the Loan exceeds 5% but is less than 25%, the advance of the Loan constitutes a discloseable transaction of the Company and is subject to notification and announcement requirements under Chapter 14 of the Listing Rules. Pursuant to Rule 14.58(2) of the Listing Rules, the identities of the Customer and the Guarantors are required to be disclosed. Since (i) the advance of the Loan is not regarded as a material transaction of the Company as compared to the Company’s overall financial position; (ii) the Company has practical difficulties in complying with the aforesaid disclosure requirement as the Customer and the Guarantors have confirmed to the Group that they will not consent to the disclosure of their identities in this announcement; (iii) the disclosure of the identities of the Customer and the Guarantors does not reflect their financial standing or repayment abilities and thus will serve little purpose in assisting the Shareholders to evaluate their creditworthiness and the risks and exposure of the Loan; and (iv) the Company has made alternative disclosures in respect of th...
INFORMATION OF THE GROUP AND THE LENDER. The Group is principally engaged in comprising (i) securities brokerage; (ii) securities-backed lending; (iii) placing and underwriting; and (iv) other money lending services. The Lender is an indirect wholly-owned subsidiary of the Company and is a company incorporated in Hong Kong with limited liability, and is a holder of money lender license under the Money Lenders Ordinance. The grant of the Loan is carried out as part of the ordinary and usual course of business of the Lender.
INFORMATION OF THE GROUP AND THE LENDER. The Group is principally engaged in money lending business and securities trading business. The Group conducts money lending business solely in Hong Kong through the provision of unsecured loans and secured loans to customers, including individuals, corporations and foreign domestic workers. The Lender, being an indirect wholly-owned subsidiary of the Company, is a licensed money lender in Hong Kong under the Money Lenders Ordinance. Taking into account the principal activities of the Group, the Directors consider that the grant of the Loan to the Borrower is in the ordinary and usual course of business of the Group. The terms of the Loan Agreement (including the interest rate) are negotiated on an arm’s length basis between the Lender and the Borrower, with reference to the commercial practice and the amount of the Loan. The Directors are of the view that the terms of the Loan Agreement are normal commercial terms entered into based on the Company’s credit policy. Taking into account the satisfactory repayment record and financial background of the Borrower, the value of the collateral and the stable revenue and cashflow stream expected from the interest income, the Directors consider that the terms of the Loan Agreement are fair and reasonable and in the interests of the Company and its shareholders as a whole.
INFORMATION OF THE GROUP AND THE LENDER. The Group is a financing service provider in Hong Kong mainly providing secured financing, including pawn loans and mortgage loans under the provisions of the Pawnbrokers Ordinance and the Money Lenders Ordinance. Oi Wah PL, as the lender of the Loans, is an indirect wholly-owned subsidiary of the Company. Having taken into account the principal business activities of the Group, the advance of the Loans to the Customers is in the ordinary and usual course of business of the Group. The terms of the Loan Agreements were negotiated on an arm’s length basis between Oi Wah PL and the Customers. The Directors consider that the advance of the Loans is financial assistance provided by the Company within the meaning of the Listing Rules. The Directors are of the view that the terms of the Loan Agreements were entered into on normal commercial terms based on the Company’s credit policy. After having taken into account the satisfactory financial background of the Customers and that a stable revenue and cashflow stream from the interest income is expected, the Directors consider that the terms of the Loan Agreements are fair and reasonable and the entering into of the Loan Agreements is in the interests of the Company and its shareholders as a whole.
INFORMATION OF THE GROUP AND THE LENDER. The Group is a financing service provider in Hong Kong mainly providing secured financing, including pawn loans and mortgage loans under the provisions of the Pawnbrokers Ordinance and the Money Lenders Ordinance. Oi Wah CL, as the lender of the Loan and the Existing Loan, is an indirect wholly-owned subsidiary of the Company. Having taken into account the principal business activities of the Group, the grant of the Loan and the Existing Loan Agreement to the Customers is in the ordinary and usual course of business of the Group. The terms of the Facility Agreement and the Existing Facility Agreement were negotiated on an arm’s length basis between Oi Wah CL and the Customers. The Directors consider that the grant of the Loan and the Existing Loan is financial assistance provided by the Company within the meaning of the Listing Rules. The Directors are of the view that the terms of the Facility Agreement and the Existing Facility Agreement were entered into on normal commercial terms based on the Company’s credit policy. After having taken into account the satisfactory financial background of the Customers and that a stable revenue and cashflow stream from the interest income is expected, the Directors consider that the terms of the Facility Agreement and the Existing Facility Agreement are fair and reasonable and the entering into of the Facility Agreement and the Existing Facility Agreement is in the interests of the Company and its Shareholders as a whole. As one or more of the applicable percentage ratios under Rule 14.07 of the Listing Rules in respect of the amount of the Loan is less than 5%m the grant of the Loan does not constitute a notifiable transaction of the Company under Chapter 14 of the Listing Rules. As the Customers are associated with each other and the Facility Agreement was entered into on a date within a 12-month period of the date of the Existing Facility Agreement, the transactions contemplated under the Existing Facility Agreement and the Facility Agreement are required to be aggregated pursuant to Rule 14.22 of the Listing Rules. As one or more of the applicable percentage ratios under Rule 14.07 of the Listing Rules in respect of the aggregate amount of the Existing Loan and the Loan exceeds 5% but is less than 25%, the grant of the Existing Loan and the Loan constitutes a discloseable transaction of the Company and is subject to notification and announcement requirements under Chapter 14 of the Listing Rules.
INFORMATION OF THE GROUP AND THE LENDER. The Group is principally engaged in (i) discretionary and non-discretionary dealing services for securities, futures and options, securities placing and underwriting services, margin financing and money lending services, insurance broking and wealth management services; (ii) corporate finance advisory and general advisory services; (iii) fund management, discretionary portfolio management and portfolio management advisory services; (iv) financial media services; (v) investment and trading of various investment products. The Lender is an indirect wholly-owned subsidiary of the Company incorporated in Hong Kong with limited liability. It is a registered money lender holding a valid money lenders license under the Money Lenders Ordinance (Chapter 163 of the Laws of Hong Kong) and is principally engaged in the business of money lending services. LISTING RULES IMPLICATIONS As none of the applicable percentage ratios (as defined under Rule 14.07 of the Listing Rules) of the transactions contemplated under the Loan Agreement 1 or the Subscription Agreement or in aggregation of Loan Agreement 1 and the Subscription Agreement exceeds 5%, the value of transactions under the Loan Agreement 1 or the Subscription Agreement or in aggregation of the Loan Agreement 1 and Subscription Agreement fell below the discloseable transactions threshold under Chapter 14 of the Listing Rules. As the Loan Agreement 1, the Subscription Agreement and the Loan Agreement 2 were entered into between different subsidiaries of the Company and the Borrower’s Group within a 12 months period, pursuant to Rule 14.22 of the Listing Rules, these transactions shall be aggregated. Pursuant to the Listing Rules, as one of the applicable percentage ratios (as defined under Rule 14.07 of the Listing Rules) of the aggregated transactions amounts of the Agreements exceeds 5% but less than 25%, such transactions constitute discloseable transactions of the Company under Chapter 14 of the Listing Rules and is therefore subject to the reporting and announcement requirements.
