Geely Automobile : ANNOUNCEMENT PURSUANT TO RULE 13.18 OF THE LISTING RULES
June 27, 2019 at 05:43 am EDT
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GEELY AUTOMOBILE HOLDINGS LIMITED
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 175)
ANNOUNCEMENT PURSUANT TO RULE 13.18
OF THE LISTING RULES
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 ("Listing Rules").
The board of directors ("Board") of Geely Automobile Holdings Limited (the "Company", together with its subsidiaries, the "Group") announces that on 27 June 2019, the Company as the borrower entered into a facility agreement (the "Facility Agreement") with Citigroup Global Markets Asia Limited (the "Agent") as the coordinator and agent for a syndicate of banks pursuant to which a term loan facility in the principal amount of up to US$300,000,000 has been extended to the Company for a term of three years. The main purposes of the loan facility is to (i) refinance the existing indebtedness of the Group and (ii) for general corporate purposes of the Group.
Pursuant to the Facility Agreement, it will be an event of default if Mr. Li Shu Fu is (i) no longer the single largest beneficial shareholder of the Company, or (ii) no longer beneficially owns at least 25% of the entire issued share capital of the Company. In case of an event of default, the Agent may by notice to the Company (a) cancel the loan facility, (b) declare that all or part of the loan, together with accrued interest, be immediately due and payable, and/or (c) declare that all or part of the loans be payable on demand.
In accordance with the requirements of Rule 13.21 of the Listing Rules, the Company will continue to make disclosures in its subsequent interim and annual reports so long as the aforementioned specific performance obligations continue to exist.
By order of the Board of
Geely Automobile Holdings Limited
David C.Y. Cheung
Company Secretary
Hong Kong, 27 June 2019
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As at the date of this announcement, the executive directors of the Company are Mr. Li Shu Fu (Chairman), Mr. Yang Jian (Vice Chairman), Mr. Li Dong Hui, Daniel (Vice Chairman), Mr. Gui Sheng Yue (Chief Executive Officer), Mr. An Cong Hui, Mr. Ang Siu Lun, Lawrence and Ms. Wei Mei, the non-executive director of the Company is Mr. Carl Peter Edmund Moriz Forster, and the independent non-executive directors of the Company are Mr. Lee Cheuk Yin, Dannis, Mr. Yeung Sau Hung, Alex, Mr. An Qing Heng and Mr. Wang Yang.
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Geely Automobile Holdings Ltd. published this content on 27 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 June 2019 09:39:01 UTC
Geely Automobile Holdings Limited specializes in the construction and marketing of passenger cars. Net sales break down by activity as follows:
- sales of vehicles (96.3%): 1,500,838 vehicles sold in 2018, broken down by brand name as follows: Boyue (226.160 unit's), New Emgrand (223,068), Vision (160.168), Emgrand GS (152,338), Vision SUV/X3/S1 (327,714), Emgrand GL (144,181), Lynk&Co 01 (78,235), Binrui (40,632) and GC9 (38,260) ;
- sales of spare parts and automotive components (3.7%).
At the end of 2018, the group operated 10 production sites in China.
Net sales are distributed geographically as follows: China (98.7%), Middle East (0.6%), Europe (0.4%), Africa (0.2%) and Latin America (0.1%).