Chinney Investments, Limited (HK:0216) has released an update.
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Chinney Investments, Limited has announced a voluntary, non-secured loan agreement with Chinney Kin Wing Holdings Limited for HK$250 million at a fixed interest rate of 6.0% per annum, to be used as general working capital. While the arrangement is considered a connected transaction due to shared ownership by Dr. Wong, it is exempt from shareholder approval under current Listing Rules. Investors are cautioned as the loan’s completion is contingent upon satisfying certain conditions and obtaining shareholder approval from related parties.
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