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    1115   KYG886121097

TIBET WATER RESOURCES LTD.

(1115)
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Delayed Hong Kong Stock Exchange  -  05/20 04:08:13 am EDT
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Tibet Water Resources : Discloseable Transactions Advance of Loans and Provision of Guarantees

05/10/2021 | 04:11am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Tibet Water Resources Ltd.

西 藏 水 資 源 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1115)

Discloseable Transactions

Advance of Loans

and

Provision of Guarantees

Advance of Loans and Provision of Guarantees

The Lenders, being wholly-owned subsidiaries of the Company, advanced or renewed certain loans to the Third Party Borrowers and two associated companies of the Company in 2019 and 2020 and provided guarantees for bank loans of an associated company of the Company for an aggregate amount of RMB170 million in 2020. As at 31 December 2020, the total outstanding amount of these loans owing by the Third Party Borrowers and an associated company of the Company were approximately RMB1,229 million and RMB34 million respectively, which were recognized as the other financial assets at amortised cost of the Group.

Implications under Listing Rules

As one or more of the applicable percentage ratios in respect of the advance and (where applicable) renewal of the Loans to each Third Party Borrower and an associated company of the Company, either on a standalone and/or on an aggregate basis, were 5% or more but less than 25%, the advance and/or renewal of the Loans to each Third Party Borrower and this associated company constituted discloseable transactions of the Company and were therefore subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules.

− 1 −

As one of the applicable percentage ratios in respect of the advance and renewal of the Loans to another associated company of the Company and the provision of each of the guarantees either on a standalone and/or on an aggregate basis, was 5% or more but less than 25%, the advance and renewal of the Loans to this associated company and the provision of the guarantees constituted discloseable transactions of the Company and were therefore subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules.

However, due to inadvertent oversight, the advance and (where applicable) renewal of the Loans and the provision of the guarantees have not been notified and announced by the Company in a timely manner in accordance with the Listing Rules which constituted a breach of Chapter 14 of the Listing Rules at the material time.

Remedial Actions

To prevent similar non-compliance from occurring, the Company has immediately taken steps to strengthen the internal controls over the procedures for all loan and guarantee transactions under Chapter 14 of the Listing Rules.

Advance of Loans and Provision of Guarantees

The particulars of the discloseable Loans and the guarantees are summarized as follows:

Loans to Borrower A

1.

Date of loan

31 December 2019

agreement:

2.

Principal amount:

RMB178,000,000(the aggregate of the principal amount

of RMB178,000,000 advanced on 31 December 2019 and

the principal amount advanced prior to 31 December 2019

and remaining outstanding as at 31 December 2019 was

RMB223,000,000)

3.

Interest rate:

10% per annum

4.

Term:

one year from the date of the loan agreement

5.

Security:

a pledge of 11.5% of Shannan Yalaxiangbu Company's

equity interests and Fudi Packaging's machinery

Such loans have been settled in full in 2020.

− 2 −

Loans to Borrower B

  1. Date of loan 30 March 2020 31 December 2020 31 December 2020 agreement:
  2. Principal RMB142,000,000 RMB70,000,000 RMB142,000,000 (the

amount:

total

principal

amount

advanced

on

30

March

2020

and

remaining

outstanding

as

at

31

December

2020

of

RMB142,000,000

was

renewed)

3.

Interest rate:

10% per annum

4.

Term:

one year from the dates of the respective loan agreements

Loans to Borrower C

1.

Date of loan

30 June 2020

31 December 2020

agreement:

2.

Principal

RMB210,905,000 RMB210,905,000 (the total principal amount

amount:

advanced on 30 June 2020 and remaining

outstanding as at 31 December 2020 of

RMB210,905,000 was renewed)

3.

Interest rate:

10% per annum

4.

Term:

one year from the dates of the respective loan agreements

Loans to Borrower D

1.

Date of loan

30 June 2020

1 July 2020

31 December 2020

agreement:

2.

Principal

RMB140,000,000

RMB66,700,000

RMB206,700,000

(the

amount:

total

principal

amount

advanced

on

30

March

and 1 July 2020 and

remaining

outstanding

as at 31 December 2020

of

RMB206,700,000

was renewed)

3.

Interest rate:

10% per annum

4.

Term:

one year from the dates of the respective loan agreements

− 3 −

Loans to Borrower E

1.

Date of loan

31 October 2019

31 December 2020

agreement:

2.

Principal

RMB41,600,000

(the

aggregate

RMB206,286,240

(the

total

amount:

of the principal amount of

outstanding principal amount of

RMB41,600,000 advanced on 31

RMB206,286,240

as at

31

October 2019 and the principal December 2020 was renewed)

amount advanced prior to 31

October 2019

and

remaining

outstanding as at 31 October

2019 was RMB324,286,016)

3.

Interest rate:

10% per annum

4.

Term:

one year from dates of the respective loan agreements

5. Security: a pledge of 26% of Shannan Yalaxiangbu Company's equity interests

The total outstanding principal amount of such loan has been settled in full as at the date of this announcement.

Loans to Borrower F

1.

Date of loan

9 January 2020

12 March 2020

31 December

31 December 2020

agreement:

2020

2.

Principal

RMB55,700,000

RMB82,540,000

RMB64,621,132

RMB138,240,000

amount:

(The

total

principal

amount advanced on 9

January and 12 March

2020

and

remaining

outstanding

as at

31

December

2020

of

RMB138,240,000

was

renewed)

3.

Interest rate: 10% per annum

4.

Term:

one year from the dates of the respective loan agreements

Approximately RMB69,000,000 of the principal amount of such loan is expected to be settled in full prior to 30 June 2021.

− 4 −

Loans to Borrower G

  1. Date of loan 2 January 2020 31 December 2020 31 December 2020 agreement:
  2. Principal RMB126,004,665 RMB63,848,982 RMB126,004,665 (the

amount:

total

principal

amount

advanced on

2

January

2020

and

remaining

outstanding

as

at

31

December

2020

of

RMB126,004,665

was

renewed)

3.

Interest rate:

10% per annum

4.

Term:

one year from the dates of the respective loan agreements

The total outstanding principal amount of such loan is expected to be settled in full prior to 30 June 2021.

Loans and guarantees to an associated company

  1. Date of loan 6 May, 26 May and 31 December 2020 31 December 2020 agreement: 22 June 2020
  2. Principal RMB60,710,000 RMB20,735,000 RMB13,710,000 (the

amount:

remaining

balance

of

the

loans advanced

during

the

period

between 6 May to 22

June

2020

which

remained outstanding as

at 31 December 2020 in

the

total

amount

of

RMB13,710,000

was

renewed)

  1. Borrower: Fudi Packaging
  2. Interest rate: 10% per annum

5. Term:

one year from the dates of the respective loan agreements

− 5 −

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Tibet Water Resources Ltd. published this content on 10 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2021 08:10:28 UTC.


© Publicnow 2021
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