CYBERNAUT INTERNATIONAL HOLDINGS COMPANY LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
CYBERNAUT INTERNATIONAL HOLDINGS COMPANY LIMITED
賽 伯 樂 國 際 控 股 有 限 公 司
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 1020)
DISCLOSEABLE TRANSACTIONS
GRANTING OF LOANS
GRANTING OF NEW LOANS
On 5 May 2021 after trading hours, the Lender, a subsidiary of the Company, entered into the New Loan Agreements with the Borrower pursuant to which the Lender has agreed to grant the New Loans in the aggregate amount of HK$6.1 million to the Borrower.
LISTING RULES IMPLICATION
The Lender has granted the Existing Loans in the total amount of HK$10.3 million to the Borrower within 12 months from the date of this announcement. Therefore the Existing Loans should be aggregated with the New Loans for the purpose of calculating the percentage ratio in respect of the New Loans under Chapter 14 of the Listing Rules. As the highest applicable percentage ratio in respect of the Loans exceeds 5% but is less than 25%, the Loans constitute discloseable transactions of the Company and are subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules.
NEW LOAN AGREEMENTS
Dates: 5 May 2021
Parties: | 1. | Time Credit Limited as the Lender; and |
2. | the Borrower. |
The Borrower is principally engaged in money lending business and is a licensed money lender in Hong Kong. The ultimate beneficial owners of the Borrower are Mr. Hong Ching Wei and Mr. Yeung Wan Yiu. To the best of the Directors' information and belief, the Borrower and its ultimate beneficial owners are Independent Third Parties.
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Amount of the New Loans
HK$6.1 million in aggregate.
Interest
Interest on the New Loans shall accrue at the rate of 9.5% per annum and payable monthly.
Repayment
The Borrower shall repay the New Loans after 12 months from the date of drawdown.
Security
Each of the New Loans is secured by a first legal charge over a different property located in Hong Kong.
EXISTING LOAN AGREEMENTS
Dates: 17 September 2020 and 10 November 2020
Parties: | 1. | Time Credit Limited as the Lender; and |
2. | the Borrower. |
Amount of the Existing Loans
HK$10.3 million in aggregate.
Interest
Interest on the Existing Loans shall accrue at the rate of 9.5% per annum and payable monthly.
Repayment
The Borrower shall repay the Existing Loans after 12 months from the date of drawdown.
Security
Each of the Existing Loans is secured by a first legal charge over a different property located in Hong Kong.
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REASONS FOR THE LOAN AGREEMENTS
The Group is principally engaged in electronic commerce (E-commerce) business, internet education services and money lending business.
The Lender is a subsidiary of the Company and a money lender licensed in Hong Kong under the Money Lenders Ordinance, Cap 163, laws of Hong Kong. The Loan Agreements are conducted in the ordinary and usual course of business of the Group which provides interest income to the Group. The terms of the Loan Agreements were determined after arm's length negotiations between the Lender and the Borrower. The Board considers that the terms of the Loan Agreements are fair and reasonable and in the interests of the Company and the Shareholders as a whole.
LISTING RULES IMPLICATIONS
The Lender has granted the Existing Loans to the Borrower within 12 months from the date of this announcement. Therefore the Existing Loans should be aggregated with the New Loans for the purpose of calculating the percentage ratio in respect of the New Loans under Chapter 14 of the Listing Rules. As the highest applicable percentage ratio in respect of the Loans exceeds 5% but is less than 25%, the Loans constitute discloseable transactions of the Company and are subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules.
DEFINITIONS
"Board"
"Borrower" "Company"
"connected person" "Directors" "Existing Loans"
"Existing Loan Agreements"
"Group"
the board of Directors
GLAM Finance Limited
Cybernaut International Holdings Company Limited, a company incorporated in Cayman Islands with limited liability, the Shares of which are listed on the Main Board of the Stock Exchange
has the meaning ascribed to it under the Listing Rules
the directors of the Company
four separate loan facilities of HK$2 million, HK$2.1 million, HK$3.3 million and HK$2.9 million granted by the Lender to the Borrower pursuant to the Existing Loan Agreements
four separate loan agreements dated 17 September 2020, 17 September 2020, 10 November 2020 and 10 November 2020 made between the Lender and the Borrower in respect of four separate loan facilities of HK$2 million, HK$2.1 million, HK$3.3 million and HK$2.9 million respectively
the Company and its subsidiaries
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"HK$"
"Hong Kong"
"Independent Third Party(ies)"
"Lender"
"Listing Rules"
"Loans"
"Loan Agreements"
"New Loans"
Hong Kong dollars, the lawful currency of Hong Kong
the Hong Kong Special Administrative Region of the People's Republic of China
a third party independent of the Company and its connected persons
Time Credit Limited, a limited liability company incorporated in Hong Kong and a subsidiary of the Company
the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited
the New Loans and the Existing Loans
the New Loan Agreements and the Existing Loan Agreements
three separate loan facilities of HK$1.8 million, HK$2.6 million and HK$1.7 million granted by the Lender to the Borrower pursuant to the New Loan Agreements
"New Loan | three separate loan agreements all dated 5 May 2021 made between the |
Agreements" | Lender and the Borrower in respect of three separate loan facilities of |
HK$1.8 million, HK$2.6 million and HK$1.7 million respectively | |
"Share(s)" | the ordinary share(s) of par value HK$0.10 each in the share capital of |
the Company | |
"Shareholder(s)" | the holder(s) of the issued Share(s) |
"Stock Exchange" | The Stock Exchange of Hong Kong Limited |
By Order of the Board of
Cybernaut International Holdings Company Limited
Mr. Zhu Min
Chairman
Hong Kong, 5 May 2021
As at the date of this announcement, the executive Directors are Mr. Zhu Min, Dr. Chen Huabei, Mr. Lu Yongchao and Ms. Yip Sum Yu and the independent non-executive Directors are Mr. Cao Ke, Mr. Tong Yiu On and Mr. Li Yik Sang.
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Cybernaut International Holdings Co. Ltd. published this content on 05 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 May 2021 09:42:08 UTC.
