The board of directors of Shenzhen Investment Limited announced that on 5 February 2024, the Company as borrower accepted a facility letter relating to a term loan facility of HKD 1,000,000,000 (or its equivalent in USD) offered by a bank as lender. The term of the Facility is 3 years. Pursuant to the Facility Letter, it will be an event of default if (i) Shum Yip Holdings Company Limited ceases to own beneficially at least 35% of the issued share capital of the Company, ceases to be the single largest shareholder of the Company or ceases to have control over the Board; or (ii) Shum Yip ceases to remain directly or indirectly beneficially owned as to at least 51% by the Shenzhen Municipal People's Government of the People's Republic of China.

If the above event of default occurs, the lender may by notice in writing declare the Facility to be terminated and the liabilities under the Facility Letter to be immediately due and payable. As at the date of this announcement, Shum Yip beneficially holds approximately 62.33% (and when aggregated with the interests held through its wholly-owned subsidiary, approximately 63.19%) of the issued share capital of the Company and the Shenzhen Municipal People's Government of the People's Republic of China holds 100% interest in Shum Yip.