China East Education Holdings Limited (HK:0667) has released an update.
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China East Education Holdings Limited has entered into Loan Framework Agreements with three connected individuals, providing each a revolving loan facility of up to RMB 50 million at a 7% annual interest rate. These transactions fall within the reporting and announcement requirements of the Hong Kong Stock Exchange Listing Rules but are exempt from shareholders’ approval. The agreements are designed to support the designated receiving companies controlled by these individuals without securing assets from the group.
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