Contel Technology Company (HKG:1912) said Lam Keung, the firm's chairman and chief executive, had pledged all the shares in P.Grand (BVI) under a loan agreement, according to a Hong Kong bourse filing on Friday.
P.Grand (BVI) is a controlling shareholder of Contel and owns 662.7 million shares representing 50.29% of the business.
The company did not specify the loan amount granted to Lam.
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