On 28 June 2022, Guangdong Investment Limited entered into a facility letter with a bank whereby the bank agreed to make available to the Company a term loan facility in the principal amount of HK$3,000 million (the "Facility") for 364 days from the date of first drawdown subject to the terms and conditions of the Facility Letter for the purposes of refinancing the Group for repayment of the existing indebtedness, and financing the general working capital requirements of the Company. Pursuant to the Facility Letter, the Company undertakes with the bank that it will procure that GDH Limited ("GDH"), the immediate controlling shareholder of the Company, shall not cease to be ultimately and beneficially controlled and majority- owned (directly and/or indirectly) by Guangdong Provincial People's Government of the People's Republic of China (the "Guangdong Provincial Government"); and procure that GDH shall not cease to beneficially own, directly and/or indirectly, at least 51% of the shareholdings in the Company. At the date of this announcement, GDH holds approximately 56.49% interest in the Company and is ultimately controlled by the Guangdong Provincial Government.