On 5 September 2019, West China Cement Limited entered into a term and revolving credit facilities agreement with, among others, a bank of up to USD 200,000,000. The last repayment date of any borrowing under the Facilities is the date falling 3 years from the date of the Agreement (or the preceding business day if such date is not a business day). The Agreement contains a condition that, during the term of the Facilities, the Company shall be directly or indirectly at least 30% beneficially owned by Mr. Zhang Jimin, the Chairman, an executive Director and the Controlling Shareholder of the Company and Mr. Zhang's status as the single direct or indirect shareholder of the Company shall be maintained. Upon a non-fulfillment of the above condition, among others, the commitment by the lenders under the Facilities shall be immediately cancelled and all outstanding loans under the Facilities (together with any accrued interest thereon) shall become immediately due and payable.