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.

GLOBAL INTERNATIONAL CREDIT GROUP LIMITED

環球信貸集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1669)

DISCLOSEABLE TRANSACTION

PROVISION OF FINANCIAL ASSISTANCE

PROVISION OF THE NEW LOANS

The Board is pleased to announce that on 27 April 2021, GICL, as lender, entered into two new loan agreements with Customer A, as borrower, pursuant to which, GICL agreed to grant two secured loans in an aggregate amount of HK$5,700,000. On the same date, GICL, as lender, also entered into two new loan agreements with Customer C, as borrower, pursuant to which, GICL agreed to grant two secured loans in an aggregate amount of HK$9,500,000.

Prior to the entering into of the New Loan Agreements, GICL, as lender, entered into the Previous Loan Agreements for the grant of eighteen secured loans in an aggregate original principal amount of HK$49,348,875 to the Customers within the last twelve months. As at the date of this announcement, two of the Previous Loan Agreements in the aggregate original principal amount of HK$7,700,000, have been fully repaid and upon the drawdown of Loan Agreement S and Loan Agreement T, two of the Previous Loans in the aggregate outstanding principal amount of HK$4,465,810 will be fully repaid.

The Group is principally engaged in money lending business of providing property mortgage loans and personal loans in Hong Kong under the Money Lenders Ordinance. GICL, as the lender of the New Loans and the Previous Loans, is an indirect wholly-owned subsidiary of the Company.

LISTING RULES IMPLICATIONS

As each of the Customers is 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 Loans requires aggregation under Rule 14.22 of the Listing Rules. As the applicable percentage ratios in respect of the Loans in aggregate exceeds 5% but are less than 25% under Rule 14.07 of the Listing Rules, the grant of the Loans constitutes a discloseable transaction for the Company under Chapter 14 of the Listing Rules.

- 1 -

PROVISION OF THE NEW LOANS

The Board is pleased to announce that on 27 April 2021, GICL, as lender, entered into two new loan agreements with Customer A, as borrower, pursuant to which, GICL agreed to grant two secured loans in an aggregate amount of HK$5,700,000. On the same date, GICL, as lender, also entered into two new loan agreements with Customer C, as borrower, pursuant to which, GICL agreed to grant two secured loans in an aggregate amount of HK$9,500,000. Details of the New Loan Agreements are as follows:

LOAN AGREEMENT S

Date of agreement

:

27 April 2021

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$2,450,000

Interest rate

:

10% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property located

in Mongkok, the valuation of which, as conducted by an independent

property valuer on 9 April 2021, was HK$4,800,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$1,435,240 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

- 2 -

LOAN AGREEMENT T

Date of agreement

:

27 April 2021

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$3,250,000

Interest rate

:

9% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property located

in Mongkok, the valuation of which, as conducted by an independent

property valuer on 9 April 2021, was HK$5,500,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$1,690,400 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

- 3 -

LOAN AGREEMENT U

Date of agreement

:

27 April 2021

Lender

:

GICL

Borrower

:

Customer C

Principal

:

HK$5,500,000

Interest rate

:

10% per annum

Term

:

36 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a retail shop located in

Mongkok, the valuation of which, as conducted by an independent

property valuer on 2 February 2021, was HK$9,900,000

Repayment

:

The borrower shall repay interest on the principal in 36 monthly

instalments and the principal amount at loan maturity

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$1,649,988 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

- 4 -

LOAN AGREEMENT V

Date of agreement

:

27 April 2021

Lender

:

GICL

Borrower

:

Customer C

Principal

:

HK$4,000,000

Interest rate

:

9.5% per annum

Term

:

36 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a retail shop located in

Mongkok, the valuation of which, as conducted by an independent

property valuer on 1 February 2021, was HK$6,780,000

Repayment

:

The borrower shall repay interest on the principal in 36 monthly

instalments and the principal amount at loan maturity

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$1,140,012 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

- 5 -

PROVISION OF THE PREVIOUS LOANS

Prior to the entering into of the New Loan Agreements, GICL, as lender, entered into the Previous Loan Agreements for the grant of eighteen secured loans in an aggregate original principal amount of HK$49,348,875 to the Customers within the last twelve months. A summary of the Previous Loan Agreements is set out as follows:

LOAN AGREEMENT A

Date of agreement

:

29 October 2020

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$3,193,754

Interest rate

:

9% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property located

in Mongkok, the valuation of which, as conducted by an independent

property valuer on 23 July 2020, was HK$6,100,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$1,661,086 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement A have been previously disclosed in the section headed "Loan Agreement A" in the announcement of the Company dated 29 October 2020.

- 6 -

LOAN AGREEMENT B

Date of agreement

:

29 October 2020

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$3,189,044

Interest rate

:

9% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property located

in Mongkok, the valuation of which, as conducted by an independent

property valuer on 23 July 2020, was HK$6,400,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$1,658,596 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement B have been previously disclosed in the section headed "Loan Agreement B" in the announcement of the Company dated 29 October 2020.

- 7 -

LOAN AGREEMENT C

Date of agreement

:

29 October 2020

Lender

:

GICL

Borrowers

:

Customer A and Customer D

Principal

:

HK$983,408

Interest rate

:

11% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a retail shop located in

Mongkok, the valuation of which, as conducted by an independent

property valuer on 23 July 2020, was HK$2,200,000

Repayment

:

The borrowers shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$642,112 throughout the term

Early repayment

:

The borrowers may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement C have been previously disclosed in the section headed "Loan Agreement C" in the announcement of the Company dated 29 October 2020.

- 8 -

LOAN AGREEMENT D

Date of agreement

:

29 October 2020

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$506,221

Interest rate

:

11% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a retail shop located in

Mongkok, the valuation of which, as conducted by an independent

property valuer on 23 July 2020, was HK$1,500,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$330,539 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement D have been previously disclosed in the section headed "Loan Agreement D" in the announcement of the Company dated 29 October 2020.

- 9 -

LOAN AGREEMENT E

Date of agreement

:

29 October 2020

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$2,575,459

Interest rate

:

9% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property located

in Mongkok, the valuation of which, as conducted by an independent

property valuer on 23 July 2020, was HK$5,500,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$1,339,541 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement E have been previously disclosed in the section headed "Loan Agreement E" in the announcement of the Company dated 29 October 2020. The principal under Loan Agreement E will be fully repaid upon the drawdown of Loan Agreement T.

- 10 -

LOAN AGREEMENT F

Date of agreement

:

29 October 2020

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$2,883,005

Interest rate

:

9% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property located

in Mongkok, the valuation of which, as conducted by an independent

property valuer on 23 July 2020, was HK$5,300,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$1,473,435 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement F have been previously disclosed in the section headed "Loan Agreement F" in the announcement of the Company dated 29 October 2020.

- 11 -

LOAN AGREEMENT G

Date of agreement

:

29 October 2020

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$585,684

Interest rate

:

11% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property

located in Mongkok, the valuation of which, as conducted by an

independent property valuer on 23 July 2020, was HK$2,500,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$382,476 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement G have been previously disclosed in the section headed "Loan Agreement G" in the announcement of the Company dated 29 October 2020.

- 12 -

LOAN AGREEMENT H

Date of agreement

:

29 October 2020

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$1,704,515

Interest rate

:

9% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property located

in Mongkok, the valuation of which, as conducted by an independent

property valuer on 23 July 2020, was HK$4,400,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$886,525 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement H have been previously disclosed in the section headed "Loan Agreement H" in the announcement of the Company dated 29 October 2020.

- 13 -

LOAN AGREEMENT I

Date of agreement

:

29 October 2020

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$2,575,459

Interest rate

:

9% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property

located in Mongkok, the valuation of which as conducted by an

independent property valuer on 23 July 2020, was HK$5,200,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$1,339,541 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement I have been previously disclosed in the section headed "Loan Agreement I" in the announcement of the Company dated 29 October 2020.

- 14 -

LOAN AGREEMENT J

Date of agreement

:

29 October 2020

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$1,336,752

Interest rate

:

10.5% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property located

in Mongkok, the valuation of which, as conducted by an independent

property valuer on 23 July 2020, was HK$4,150,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$827,688 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement J have been previously disclosed in the section headed "Loan Agreement J" in the announcement of the Company dated 29 October 2020.

- 15 -

LOAN AGREEMENT K

Date of agreement

:

29 October 2020

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$1,993,669

Interest rate

:

10% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property located

in Mongkok, the valuation of which, as conducted by an independent

property valuer on 23 July 2020, was HK$5,000,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$1,167,851 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement K have been previously disclosed in the section headed "Loan Agreement K" in the announcement of the Company dated 29 October 2020. The principal under Loan Agreement K will be fully repaid upon the drawdown of Loan Agreement S.

- 16 -

LOAN AGREEMENT L

Date of agreement

:

29 October 2020

Lender

:

GICL

Borrower

:

Customer B

Principal

:

HK$8,347,250

Interest rate

:

9% per annum

Term

:

36 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a retail shop located in Ho

Man Tin, the valuation of which, as conducted by an independent

property valuer on 23 July 2020, was HK$14,000,000

Repayment

:

The borrower shall repay interest on the principal in 36 monthly

instalments and the principal amount at loan maturity

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$2,253,744 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement L have been previously disclosed in the section headed "Loan Agreement L" in the announcement of the Company dated 29 October 2020.

- 17 -

LOAN AGREEMENT M

Date of agreement

:

7 August 2020

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$3,500,000

Interest rate

:

9.5% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property located

in Mongkok, the valuation of which, as conducted by an independent

property valuer on 20 July 2020, was HK$7,100,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$1,934,680 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written

notice

Details of Loan Agreement M have been previously disclosed in the section headed "Previous Loan Agreement M" in the announcement of the Company dated 29 October 2020.

- 18 -

LOAN AGREEMENT N

Date of agreement

:

7 August 2020

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$4,700,000

Interest rate

:

10.5% per annum

Term

:

12 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a retail shop located in

Mongkok, the valuation of which, as conducted by an independent

property valuer on 23 July 2020, was HK$10,500,000

Repayment

:

The borrower shall repay interest on the principal in 12 monthly

instalments and the principal amount at loan maturity

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$493,500 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement N have been previously disclosed in the section headed "Previous Loan Agreement N" in the announcement of the Company dated 29 October 2020. The outstanding principal of Loan Agreement N have been fully repaid as at the date of this announcement.

- 19 -

LOAN AGREEMENT O

Date of agreement

:

28 August 2020

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$3,124,655

Interest rate

:

9% per annum

Term

:

120 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property located

in Mongkok, the valuation of which, as conducted by an independent

property valuer on 23 July 2020, was HK$5,500,000

Repayment

:

The borrower shall repay interest and principal in 120 monthly

instalments

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$1,328,045 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement O have been previously disclosed in the section headed "Previous Loan Agreement O" in the announcement of the Company dated 29 October 2020.

- 20 -

LOAN AGREEMENT P

Date of agreement

:

28 August 2020

Lender

:

GICL

Borrower

:

Customer C

Principal

:

HK$3,000,000

Interest rate

:

9.5% per annum

Term

:

12 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property located

in Mongkok, the valuation of which, as conducted by an

independent property valuer on 24 June 2020, was HK$5,080,000

Repayment

:

The borrower shall repay interest on the principal in 12 monthly

instalments and the principal amount at loan maturity

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$285,000 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

Details of Loan Agreement P have been previously disclosed in the section headed "Previous Loan Agreement P" in the announcement of the Company dated 29 October 2020. The outstanding principal of Loan Agreement P have been fully repaid as at the date of this announcement.

- 21 -

LOAN AGREEMENT Q

Date of agreement

:

16 November 2020

Lender

:

GICL

Borrower

:

Customer C

Principal

:

HK$2,000,000

Interest rate

:

11% per annum

Term

:

36 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a retail shop located in

Mongkok, the valuation of which, as conducted by an independent

property valuer on 5 November 2020, was HK$4,500,000

Repayment

:

The borrower shall repay interest on the principal in 36 monthly

instalments and the principal amount at loan maturity

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$659,988 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

- 22 -

LOAN AGREEMENT R

Date of agreement

:

23 March 2021

Lender

:

GICL

Borrower

:

Customer A

Principal

:

HK$3,200,000

Interest rate

:

9.5% per annum

Term

:

36 months commencing from the loan drawdown date

Security

:

A first legal charge/mortgage in respect of a residential property located

in Mongkok, the valuation of which, as conducted by an independent

property valuer on 8 February 2021, was HK$5,100,000

Repayment

:

The borrower shall repay interest on the principal in 36 monthly

instalments and the principal amount at loan maturity

Interest

:

Interest is calculated on a daily basis with the maximum amount of

HK$911,988 throughout the term

Early repayment

:

The borrower may at any time before the loan maturity repay the

principal by giving GICL not less than one month's prior written notice

- 23 -

INFORMATION ON THE CREDIT RISK RELATING TO THE LOANS

The Loans are collateralised against twelve residential properties and six retail shops provided by the Customers with an aggregate loan-to-value ratio of approximately 51.8% based on the value of the mortgaged properties for the Loans as determined by independent property valuers. Details of each of the mortgage and their respective loan-to-value ratio are summarised as below:

Loan Agreement A is collateralised against a residential property with a loan-to-value ratio of approximately 52.4% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement B is collateralised against a residential property with a loan-to-value ratio of approximately 49.8% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement C is collateralised against a retail shop with a loan-to-value ratio of approximately 44.7% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement D is collateralised against a retail shop with a loan-to-value ratio of approximately 33.7% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement F is collateralised against a residential property with a loan-to-value ratio of approximately 53.5% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement G is collateralised against a residential property with a loan-to-value ratio of approximately 23.4% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement H is collateralised against a residential property with a loan-to-value ratio of approximately 38.7% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement I is collaterised against a residential property with a loan-to-value ratio of approximately 49.5% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement J is collateralised against a residential property with a loan-to-value ratio of approximately 32.2% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement L is collateralised against a retail shop with a loan-to-value ratio of approximately 59.6% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement M is collateralised against a residential property with a loan-to-value ratio of approximately 49.3% based on the value of the mortgaged property as determined by an independent property valuer.

- 24 -

Loan Agreement O is collateralised against a residential property with a loan-to-value ratio of approximately 56.8% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement Q is collateralised against a retail shop with a loan-to-value ratio of approximately 44.4% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement R is collateralised against a residential property with a loan-to-value ratio of approximately 62.7% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement S is collateralised against a residential property with a loan-to-value ratio of approximately 51.0% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement T is collateralised against a residential property with a loan-to-value ratio of approximately 59.1% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement U is collateralised against a retail shop with a loan-to-value ratio of approximately 55.6% based on the value of the mortgaged property as determined by an independent property valuer.

Loan Agreement V is collateralised against a retail shop with a loan-to-value ratio of approximately 59.0% based on the value of the mortgaged property as determined by an independent property valuer.

The advance in respect of the Loans were made based on (i) the Group's credit assessments on the financial strength and repayment ability of the Customers; and (ii) the collaterals provided by the Customers, which are at prime sites in Hong Kong. In assessing the financial strength and repayment ability of the Customers, the Group has (i) considered the value of the mortgaged properties; (ii) considered the historical repayment record of the Customers with no record of default as at the date of this announcement; (iii) reviewed the external credit reports and ratings of Customer A, Customer B and Customer C, with satisfactory results; and (iv) conducted a litigation and bankruptcy search on the Customers with no material irregularities noted. After taking into account the factors as disclosed above in assessing the risk of the advance, the Group considers that the risk involved in the advance to the Customers is acceptable to the Group.

FUNDING OF THE NEW LOANS

The Group will finance the New Loans with the Group's general working capital.

INFORMATION ON THE CUSTOMERS

Customer A

Customer A is an individual and an Independent Third Party. He is an experienced property investor, the spouse of Customer B, the son of Customer C and the sole ultimate beneficial owner and director of Customer D.

- 25 -

Customer B

Customer B is an individual and an Independent Third Party. She is a housewife, the spouse of Customer A and daughter-in-law of Customer C.

Customer C

Customer C is an individual and an Independent Third Party. He is a retired person, the father of Customer A and father-in-law of Customer B.

Customer D

Customer D is a company incorporated in Hong Kong which is principally engaged in the business of property holding and an Independent Third Party. Customer A is the sole ultimate beneficial owner and director of Customer D.

The Customers are repeated customers of the Group and prior to the grant of the New Loans, the Customers have outstanding loans with GICL of approximately HK$41,000,000 and there is no record of default as at the date of this announcement. To the best of the knowledge, information and belief of the Directors having made all reasonable enquiry, the Customers are third parties independent of the Company and its connected persons.

INFORMATION ON THE GROUP AND GICL

The Group is principally engaged in money lending business of providing property mortgage loans and personal loans in Hong Kong under the Money Lenders Ordinance. GICL, as the lender of the New Loans and the Previous Loans, is an indirect wholly-owned subsidiary of the Company.

REASONS FOR ENTERING INTO THE NEW LOAN AGREEMENTS AND THE PREVIOUS LOAN AGREEMENTS

Taking into account the principal business activities of the Group, the grant of the Loans to the Customers is in the ordinary and usual course of business of the Group.

The terms of the New Loan Agreements and the Previous Loan Agreements were negotiated on an arm's length basis between GICL and the Customers. The Directors consider that the grant of the Loans is financial assistance provided by the Group within the meaning of the Listing Rules. The Directors are of the view that the terms of the New Loan Agreements and the Previous Loan Agreements were entered into on normal commercial terms based on the Group's credit policy. Taking into account the satisfactory financial background of the Customers and that a stable revenue and cashflow stream from the interest income is expected, the Directors consider that the terms of the New Loan Agreements and the Previous Loan Agreements are fair and reasonable and the entering into of the New Loan Agreements and the Previous Loan Agreements are in the interests of the Company and its shareholders as a whole.

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LISTING RULES IMPLICATIONS

As each of the Customers is 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 Loans requires aggregation under Rule 14.22 of the Listing Rules. As the applicable percentage ratios in respect of the Loans in aggregate exceeds 5% but are less than 25% under Rule 14.07 of the Listing Rules, the grant of the Loans constitutes a discloseable transaction for the Company under Chapter 14 of the Listing Rules.

It is required under Rule 14.58(2) of the Listing Rules to disclose the identities of the Customers. As

  1. the Customers have confirmed to the Group that they will not consent to the disclosure of their identities in this announcement, the Company encounters practical difficulty for the strict compliance of the aforesaid disclosure requirement; (ii) the Company is of the view that the Loans are not regarded as a material transaction of the Group as compared to the Group's overall financial positions; (iii) the disclosure of the identities of the Customers does not reflect their financial standing or repayment abilities and thus will serve little purpose in assisting the shareholders of the Company to evaluate the
    Customers' creditworthiness and the risk exposure of the Loans; and (iv) the Company has made alternative disclosures in respect of the Loans in this announcement, including but not limited to the details of the collaterals and the loan-to-valueratio of the collaterals in respect of the Loans, the information disclosed could already enable the shareholders of the Company to assess the risk exposure of the Loans, the Company has applied to the Stock Exchange for and has been granted with a waiver from strict compliance with Rule 14.58(2) of the Listing Rules.

DEFINITIONS

In this announcement, the following expressions have the following meanings:

"Board"

the board of Directors

"Company"

Global International Credit Group Limited, a company

incorporated in the Cayman Islands with limited liability, the

shares of which are listed on the Stock Exchange

"Customer A"

the borrower under each of Loan Agreement A, Loan Agreement

B, Loan Agreement D, Loan Agreement E, Loan Agreement F,

Loan Agreement G, Loan Agreement H, Loan Agreement I,

Loan Agreement J, Loan Agreement K, Loan Agreement M,

Loan Agreement N, Loan Agreement O, Loan Agreement R,

Loan Agreement S and Loan Agreement T; and one of the

borrowers under Loan Agreement C, being an individual and an

Independent Third Party

"Customer B"

the borrower under Loan Agreement L, being an individual and

an Independent Third Party

"Customer C"

the borrower under Loan Agreement P, Loan Agreement Q,

Loan Agreement U and Loan Agreement V, being an

individual and an Independent Third Party

- 27 -

"Customer D"

one of the borrowers under Loan Agreement C, being a company

incorporated in Hong Kong and an Independent Third Party

"Customers"

Customer A, Customer B, Customer C and Customer D

"Director(s)"

the director(s) of the Company

"GICL"

Global International Credit Limited, a limited liability company

incorporated in Hong Kong and an indirect wholly-owned

subsidiary of the Company

"Group"

the Company and its subsidiaries

"HK$"

Hong Kong Dollars, the lawful currency of Hong Kong

"Hong Kong"

the Hong Kong Special Administrative Region of the People's

Republic of China

"Independent Third Party"

person or company which is not a connected person (as defined

in the Listing Rules) of the Company

"Listing Rules"

the Rules Governing the Listing of Securities on the Stock

Exchange

"Loan Agreement A"

the loan agreement entered into between GICL and Customer A

on 29 October 2020, particulars of which are stated in the section

headed "Loan Agreement A" in this announcement

"Loan Agreement B"

the loan agreement entered into between GICL and Customer A

on 29 October 2020, particulars of which are stated in the section

headed "Loan Agreement B" in this announcement

"Loan Agreement C"

the loan agreement entered into among GICL, Customer A and

Customer D on 29 October 2020, particulars of which are stated

in the section headed "Loan Agreement C" in this announcement

"Loan Agreement D"

the loan agreement entered into between GICL and Customer A

on 29 October 2020, particulars of which are stated in the section

headed "Loan Agreement D" in this announcement

"Loan Agreement E"

the loan agreement entered into between GICL and Customer A

on 29 October 2020, particulars of which are stated in the section

headed "Loan Agreement E" in this announcement

"Loan Agreement F"

the loan agreement entered into between GICL and Customer A

on 29 October 2020, particulars of which are stated in the section

headed "Loan Agreement F" in this announcement

- 28 -

"Loan Agreement G"the loan agreement entered into between GICL and Customer A on 29 October 2020, particulars of which are stated in the section headed "Loan Agreement G" in this announcement

"Loan Agreement H"the loan agreement entered into between GICL and Customer A on 29 October 2020, particulars of which are stated in the section headed "Loan Agreement H" in this announcement

"Loan Agreement I"the loan agreement entered into between GICL and Customer A on 29 October 2020, particulars of which are stated in the section headed "Loan Agreement I" in this announcement

"Loan Agreement J"the loan agreement entered into between GICL and Customer A on 29 October 2020, particulars of which are stated in the section headed "Loan Agreement J" in this announcement

"Loan Agreement K"the loan agreement entered into between GICL and Customer A on 29 October 2020, particulars of which are stated in the section headed "Loan Agreement K" in this announcement

"Loan Agreement L"the loan agreement entered into between GICL and Customer B on 29 October 2020, particulars of which are stated in the section headed "Loan Agreement L" in this announcement

"Loan Agreement M"the loan agreement entered into between GICL and Customer A on 7 August 2020, particulars of which are stated in the section headed "Loan Agreement M" in this announcement

"Loan Agreement N"the loan agreement entered into between GICL and Customer A on 7 August 2020, particulars of which are stated in the section headed "Loan Agreement N" in this announcement

"Loan Agreement O"the loan agreement entered into between GICL and Customer A on 28 August 2020, particulars of which are stated in the section headed "Loan Agreement O" in this announcement

"Loan Agreement P"the loan agreement entered into between GICL and Customer C on 28 August 2020, particulars of which are stated in the section headed "Loan Agreement P" in this announcement

"Loan Agreement Q"the loan agreement entered into between GICL and Customer C on 16 November 2020, particulars of which are stated in the section headed "Loan Agreement Q" in this announcement

"Loan Agreement R"the loan agreement entered into between GICL and Customer A on 23 March 2021, particulars of which are stated in the section headed "Loan Agreement R" in this announcement

"Loan Agreement S"the loan agreement entered into between GICL and Customer A on 27 April 2021, particulars of which are stated in the section headed "Loan Agreement S" in this announcement

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"Loan Agreement T"

the loan agreement entered into between GICL and Customer A

on 27 April 2021, particulars of which are stated in the section

headed "Loan Agreement T" in this announcement

"Loan Agreement U"

the loan agreement entered into between GICL and Customer C

on 27 April 2021, particulars of which are stated in the section

headed "Loan Agreement U" in this announcement

"Loan Agreement V"

the loan agreement entered into between GICL and Customer C

on 27 April 2021, particulars of which are stated in the section

headed "Loan Agreement V" in this announcement

"Loans"

the New Loans and the Previous Loans

"Money Lenders Ordinance"

the Money Lenders Ordinance (Chapter 163 of the laws of Hong

Kong) as amended, supplemented, or otherwise modified from

time to time

"New Loans"

the mortgage loans in the aggregate principal amount of

HK$15,200,000 provided by GICL to Customer A or Customer

C (as the case may be) under the New Loan Agreements

"New Loan Agreements"

Loan Agreement S, Loan Agreement T, Loan Agreement U and

Loan Agreement V

"Previous Loans"

the mortgage loans in the aggregate original principal amount of

HK$49,348,875 granted by GICL to the Customers (as the case

may be) under the Previous Loan Agreements

"Previous Loan Agreements"

Loan Agreement A, Loan Agreement B, Loan Agreement C,

Loan Agreement D, Loan Agreement E, Loan Agreement F,

Loan Agreement G, Loan Agreement H, Loan Agreement I,

Loan Agreement J, Loan Agreement K, Loan Agreement L,

Loan Agreement M, Loan Agreement N, Loan Agreement O,

Loan Agreement P, Loan Agreement Q and Loan Agreement R

"Stock Exchange"

The Stock Exchange of Hong Kong Limited

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By Order of the Board of

Global International Credit Group Limited

Wang Yao

Chairman and Chief Executive

Hong Kong, 27 April 2021

As at the date of this announcement, the executive directors of the Company are Ms. Wang Yao, Ms. Jin Xiaoqin and Ms. Yip Lee Ying; and the independent non-executive directors of the Company are Dr. Ng Lai Man, Carmen, Mr. Man Yiu Kwong, Nick and Mr. Tang, Warren Louis.

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Global International Credit Group Ltd. published this content on 27 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 09:12:02 UTC.