Arrail Group Ltd. (HK:6639) has released an update.
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Arrail Group Ltd. has bolstered its financial security by securing an additional pledge of 8.5 million shares from Mingda, linked to a loan agreement involving its controlling shareholder, Mr. Zou. This move increases the total pledged shares to over 23 million, enhancing the company’s security for the $11 million loan. The transaction, while a connected one under listing rules, is exempt from requiring independent shareholder approval.
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