Minmetals Land Limited accepted the offer from a bank for the grant of a 1-year revolving loan facility in an aggregate amount of HKD 1,500,000,000. As one of the conditions of the Facility, China Minmetals Corporation ("CMC", the ultimate controlling shareholder of the Company) shall beneficially owned (directly or indirectly) at least 51% interest of and has management control over the Company. Upon a breach of any of the aforesaid conditions, the Facility is repayable in full amount on demand by the Bank.

As at the date of this announcement, CMC holds approximately 61.88% of the issued share capital of the Company.