Examples of Previous Loans in a sentence
As the borrowers of the Loans are associated with each other (details of their relationship are set out in the section headed “Information on the Customers” in this announcement), the grant of the New Loan and the Previous Loans shall be aggregated under Rule 14.22 of the Listing Rules.
As certain applicable percentage ratios in respect of the Loans are more than 5% but less than 25% under Rule 14.07 of the Listing Rules, the grant of the New Loan and the Previous Loans constitutes a discloseable transaction for the Company under Chapter 14 of the Listing Rules and is therefore subject to the reporting and announcement requirements under the Listing Rules.
Further, as the Previous Loans and the Loan are granted to the same borrower within a 12-month period, the grant of the Loan requires aggregation with the Previous Loans under Rule 19.22 of the GEM Listing Rules.
As one or more of the applicable percentage ratios in respect of the Loan and the Previous Loans in aggregate exceed 5% but all of them are less than 25%, the grant of the Loan and the Previous Loans in aggregate constitutes a discloseable transaction for the Company and is therefore subject to notification and disclosure requirements under Chapter 19 of the GEM Listing Rules.
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As at the date of this announcement, the principal amount of the Previous Loans together with all interest accrued thereon has been fully repaid by the Borrower on the respective repayment date.
Reasons for and benefits of the grant of Loan Money Lending is one of the principal business activities of the Group, hence the grant of the Previous Loans and Loan to the Borrower is in the ordinary and usual course of business of the Group.
The advance of the Previous Loans and the Loan was made on the basis of the Company’s credit assessments taking into account of the financial strength and repayment ability of the Borrower, as well as the relatively short term nature of the advances.
The New Loan is secured by one business property provided by Customer A and the Previous Loans are secured by one residential property, one commercial property and one car parking space provided by Customer A and Customer B with an aggregate loan-to-value ratio of approximately 69.76% based on the value of the secured properties for the New Loan and the Previous Loans as determined by an independent property valuer on 29 March 2016.
As one or more of the applicable percentage ratios in respect of the Loan and the Previous Loans in aggregate exceed 5% but all of them are less than 25%, the grant of the Loan and the Previous Loans in aggregate constitute a discloseable transaction for the Company and is therefore subject to notification and disclosure requirements under Chapter 19 of the GEM Listing Rules.