HKR International Limited entered into Loan Agreement between the Company as borrower and the Lenders on 29 April 2022, which contains a clause deemed to have imposed a specific performance obligation on the controlling shareholder of the Company. The Loan Agreement is for a term and revolving loan facility in an aggregate principal amount of HKD 2,400 million with the final maturity date falling five years from the date of the Loan Agreement. The Facility shall be used for financing the Group's general working capital requirements.

Under the Loan Agreement, among others, an event of default is triggered when the existing larger shareholder of the Company on the date of the Loan Agreement, ceases to be the Company's larger shareholder at any time during the term of the Loan Agreement unless the situation can be remedied within a prescribed timeframe pursuant to the Loan Agreement. If such an event of default occurs, the agent acting for the Lenders, if so instructed by a majority of the Lenders, may and shall cancel any available commitments under the Facility and/or declare all or part of the outstanding advances together with interest accrued thereon and all other sums payable by the Company under the Loan Agreement to be immediately due and payable.