Examples of Loan Services in a sentence
Since the Loan Services under the 2024 Financial Services Agreement are on normal commercial terms (or better to the Group) where no security over the assets of the Group will be granted in respect of the financial assistance given by COFCO Finance, the Loan Services under the 2024 Financial Services Agreement are exempt from the reporting, announcement and the Independent Shareholders’ approval requirements under the Listing Rules pursuant to Rule 14A.90 of the Listing Rules.
As each of the applicable percentage ratios in respect of the handling fees in connection with the Entrustment Loan Services under the 2024 Financial Services Agreement is on an annual basis less than 0.1%, the Entrustment Loan Services are exempt from the reporting, announcement, annual review and the Independent Shareholders’ approval requirements under the Listing Rules.
COFCO Finance will only act as an agent of the capital management entity of the Group (i.e. COFCO Meat) and charge handling fees in connection with the Entrustment Loan Services.
COFCO Finance will not require the Group to provide any type of guarantees or securities with respect to the Entrustment Loan Services.
The handling fees to be charged by COFCO Finance in connection with the Entrustment Loan Services will not be higher than those charged by the Major PRC Commercial Banks for identical or similar type of services.