Longfor Properties : DISCLOSURE PURSUANT TO RULE 13.18 OF THE LISTING R...

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Longfor Properties Co. Ltd.

ᎲಳήପϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 960)

DISCLOSURE PURSUANT TO RULE 13.18 OF THE LISTING RULES

The Board announces that the Company obtained a HK$10,209,000,000 transferable term loan credit facility from a syndicate of banks on 25 January 2018. The Facility Agreement contains provisions which require the Company's controlling shareholders to maintain a minimum percentage of shareholding in the Company.

This announcement is made pursuant to Rule 13.18 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The board of directors (the "Board") of Longfor Properties Co. Ltd. (the "Company") announces that on 25 January 2018, the Company as borrower entered into a facility agreement (the "Facility Agreement") with a syndicate of 8 banks (including (i) China Construction Bank Corporation, Hong Kong Branch; (ii) Bank of China (Hong Kong) Limited; (iii) The Hongkong and Shanghai Banking Corporation Limited; (iv) Hang Seng Bank Limited; (v) The Bank of East Asia, Limited; (vi) DBS Bank Ltd., Hong Kong Branch; (vii) Industrial and Commercial Bank of China (Asia) Limited; and (viii) China Minsheng Banking Corp., Ltd., Hong Kong Branch) pursuant to which a 5-year transferable term loan credit facility in the principal amount of HK$10,209,000,000 (the "Facility") was made available to the Company on the terms and conditions stated therein.

It is provided in the Facility Agreement, among other things, that an event of default will occur if the controlling shareholders of the Company (namely, the Wu Family Trust, the Cai Family Trust, Charm Talent International Limited and Junson Development International Limited) cease to collectively maintain (directly or indirectly) not less than 51% of the entire beneficial shareholding interest in the Company. If an event of default under the Facility Agreement occurs, the agent acting for the lending banks may, and shall if so directed by two-thirds of the lending banks, terminate the Facility and/or declare that all or part of the loans made under the Facility together with accrued interest and all other amounts accrued or outstanding under the Facility Agreement be immediately due and payable. As at the date of this announcement, the controlling shareholders of the Company collectively hold approximately 69.81% of the issued share capital of the Company.

The Company will make continuing disclosure in relation to the Facility in accordance with the requirements of Rule 13.21 of the Listing Rules.

By Order of the Board Longfor Properties Co. Ltd.

Wu Yajun Chairperson

Hong Kong, 25 January 2018

As at the date of this announcement, the Board comprises eight members: Madam Wu Yajun, Mr. Shao Mingxiao, Mr. Zhao Yi and Mr. Li Chaojiang who are executive directors; and Mr. Frederick Peter Churchouse, Mr. Chan Chi On, Derek, Mr. Xiang Bing and Mr. Zeng Ming who are independent non-executive directors.