JINCHUAN INTL: Subsidiary Obtains US$15.00 million Revolving Loan, Ongoing Control Covenant Imposed on Majority Shareholder

Bulletin Express
04/24

On 24 April 2026, JINCHUAN INTL’s wholly-owned subsidiary, Metorex (Proprietary) Limited, entered into a loan agreement with an unnamed bank for a 12-month revolving credit facility of up to US$15.00 million. Proceeds are earmarked solely for the working-capital needs of the borrower and its subsidiaries.

A key covenant requires the ultimate controlling shareholder, Jinchuan Group Co., Ltd. (JCG), to retain control of both the borrower and JINCHUAN INTL for the life of the facility. Breach of this condition would entitle the bank to terminate the facility and demand immediate repayment of all outstanding amounts. JCG currently owns approximately 57.81 % of JINCHUAN INTL’s issued share capital.

The control covenant constitutes a “specific performance obligation” under Hong Kong Listing Rule 13.18; the company will continue to disclose the status of this obligation in future interim and annual reports pursuant to Rule 13.21.

JINCHUAN INTL’s shares have been suspended from trading on the Hong Kong Stock Exchange since 28 March 2025 and will remain suspended until further notice. Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities.

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10