CHK Oil Controlling Shareholder Secures HK$16 Million Loan with Share Pledge
CHK Oil Limited announced that its controlling shareholder, Xin Hua Petroleum (Hong Kong) Limited, has entered into a loan agreement with Squadron Funding Capitalization Investor SPV2025, Ltd., a special purpose vehicle established by Squadron Capital Partners, Ltd. Under the agreement, Xin Hua Petroleum will pledge 80,000,000 ordinary shares of CHK Oil Limited to secure a non-recourse loan facility of approximately HK$16,000,000. The actual loan amount will vary based on the market price of the pledged shares. The lender is independent of CHK Oil Limited and its connected persons. Shareholders and potential investors are advised to exercise caution when dealing in the company's shares.
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