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沿海綠色家園有限公司 *
(incorporated in Bermuda with limited liability)
(Stock Code: 01124)This announcement is made on a voluntary basis by Coastal Greenland Limited (the 'Company').
The board (the 'Board') of directors (the 'Directors') of the Company is pleased to announce that, on 11 December 2015 (after trading hours of The Stock Exchange of the Hong Kong Limited (the 'Stock Exchange')), the Company entered into a guarantee agreement (the 'Guarantee Agreement') with 四川信託有限公司 (for transliteration purpose only Sichuan Trust Company Limited) ('Sichuan Trust Company') pursuant to which the Company agreed to provide a guarantee in favour of Sichuan Trust Company to secure all obligations of Shenyang Coastal Rongtian Real Estate Co., Ltd. ('Shenyang Coastal'), a wholly-owned subsidiary of the Company, under the Trust Loan Agreement (as defined below).
By a trust loan agreement (the 'Trust Loan Agreement') dated 11 December 2015 and entered into between Sichuan Trust Company as lender and Shenyang Coastal as borrower, Sichuan Trust Company had agreed to grant a loan in the aggregate amount of up to RMB400 million to Shenyang Coastal.
The principal terms of the Guarantee Agreement are set out below:
(b) Sichuan Trust Company
To the best of the knowledge, information and belief of the Directors having made all reasonable enquiries, Sichuan Trust Company and its ultimate beneficial owner are third parties independent of the Company and its connected persons (as defined under the Rules Governing the Listing of Securities on the Stock Exchange (the 'Listing Rules')).
Guaranteed amount: Up to RMB400 million, being the aggregate amount of the loanunder the Trust Loan Agreement.
all obligations of Shenyang Coastal under the Trust Loan Agreement including, among others, the principal, any interest, compound interest, penalty interest, damages and other expenses.
The Guarantee Agreement does not constitute any notifiable transaction of the Company under Chapter 14 of the Listing Rules, nor any connected transaction of the Company under Chapter 14A of the Listing Rules. The Board wishes to make a voluntary disclosure to inform the shareholders of the Company (the 'Shareholders') and potential investors in respect of the details of the Guarantee Agreement.
The Directors consider that the Guarantee Agreement is in the interests of the Company and the Shareholders as a whole.
By order of the Board
Coastal Greenland Limited Jiang MingChairman
Hong Kong, 11 December 2015
As at the date of this announcement, the Board comprises Mr. Jiang Ming, Mr. Tao Lin, Mr. Cai Shaobin and Ms. Wang Hongmei as executive Directors, Mr. Lu Jiqiang and Dr. Dai Jingming as non-executive Directors and Mr. Chen Xiaotian, Mr. Wong Kai Cheong and Mr. Yang Jiangang as independent non-executive Directors.
* for identification purpose only
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