GR Properties Limited (HK:0108) has released an update.
GR Life Style Company Limited’s subsidiary, Beijing Wangangtong, has entered into agreements with Dalian Bank to provide financial assistance to a borrower by bearing joint liability and mortgaging properties as security for a RMB130 million loan. This transaction, which includes a 1% annual guarantee fee for Beijing Wangangtong, constitutes a connected transaction under the Hong Kong Listing Rules requiring reporting and announcement. The agreements are valid until the loan is fully repaid or three years after the repayment deadline.
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