Hong Kong Finance Group Limited announced that the Board announced that on 31 May 2023, the New Loan Agreements were entered into between HK Finance (PL) as the lender and Customer L as the Borrower. Pursuant to the New Loan Agreements, HK Finance (PL) has agreed to grant the New Loans to the Borrower for an aggregate principal amount of HKD 23,645,000. Prior to the entering into the New Loan Agreements, HK Finance (PL), as the lender, has entered into the Previous Loan Agreement to grant the Previous Loan to the Borrower for a principal amount of HKD 34,000,000.

THE NEW LOAN AGREEMENTS: Date of Agreement: 31 May 2023. Lender: HK Finance (PL). Borrower: Customer L. Aggregate principal amount: HKD 23,645,000.

Interest rate: 0.96% per month (equivalent to 11.52% per annum). Term: 6 months commencing from the drawdown date. Security: A first legal charge/mortgage in respect of 33 car parking spaces located at Wong Chuk Hang Road, Hong Kong, with valuation conducted by an independent property valuer with the amount of approximately HKD 44,900,000 as at 24 May 2023.

Repayment: the Borrower will repay the interest on a monthly basis with a principal amount to be repaid at the maturity.