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News Releases |
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| Announce on behalf of subsidiary, Yuanta Securities Co., Ltd. regarding the funds lending of its subsidiary Yuanta Securities Asia Financial Services Limited. |
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- Date of occurrence of the event: 2010/11/15
- Name of the company to which the loans have been extended, its relationship to the Company, ceiling on the loan amounts, amount of loans originally extended, amount of the current additional loans, reason for the current additional loans: Yuanta Securities (HK) Company Ltd; it's wholly-owned by the Company's wholly-owned subsidiary, Yuanta Securities Asia Financial Services Limited.
the ceiling on the loan amounts is USD 350,664,816.
the amount of loans originally extended is USD 50,000,000.
the amount of the current additional loans is USD 50,000,000.
the reason for the current additional loans is to enhance its short-term working capital for business.
- Content of the collateral provided by the party to which the loans have been extended: None
- Value of the collateral provided by the party to which the loans have been extended: None
- Capital of the party to which the loans have been extended according to its latest financial report: HKD 708,132,525
- Accumulated profit/loss of the party to which the loans have been extended according to its latest financial report: Accumulated Loss HKD 287,367,160
- Method of calculation of interest: Six-month TAIBOR or average cost of fund of lending company, whichever is higher.
- Conditions for repayment: Borrower needs to repay the borrowed principle and its accrued interest.
- Date for repayment: Due date of the loan.
- The ratio of the amount of loans to the Company's net worth according to the latest financial report as of the date of occurrence of the event: 5.27%
- The ratio of the amount of loans to the business transaction amount between the Company and the company to which the loans were extended within the most recent fiscal year as of the date of occurrence of the event: N/A
- Source of the funds loaned by a subsidiary to another person: Subsidiary's own fund and bank loan.
- Balance of monetary loans and balance of endorsements / guarantees by the Company to the subsidiary referred in the preceding item: None.
- Any other matters that need to be specified: N/A
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