The board of directors of Tianjin Development Holdings Limited announced that the Company as borrower has entered into a facility agreement with a syndicate of banks as lenders on 7 December 2022 in respect of a term loan facility of up to HKD 2,500,000,000 for a period of 36 months commencing from the date of utilisation. Pursuant to the Facility Agreement, it will be an event of default, inter alia, if: the State-owned Assets Supervision and Administration Commission of the Tianjin Municipal People's Government ceases to maintain a majority shareholdings ownership directly or indirectly in the Company of more than 50%, or the Company ceases to be under the direct or indirect management control of Tsinlien Group Company Limited, a controlling shareholder of the Company, In case of an occurrence of an event of default, the Lenders may by notice to the Company: (a) cancel the total commitments or any part(s) thereof; (b) declare that the loans or any relevant part thereof, together with accrued interest, and all other amounts accrued or outstanding be immediately due and payable; and/or (c) declare that the loans or any relevant part thereof be payable on demand. As at the date of this announcement, Tsinlien is directly and indirectly interested in approximately 62.81% of the total number of issued shares of the Company.