Core Viewpoint - The financial situation of Yufengchang Holdings (08631) has deteriorated, leading to a loan of HKD 5.5 million granted to Mr. Wang Xinlong by Mr. Luo Mingyi to address personal financial pressures and urgent working capital needs of the company [1][2] Group 1: Loan Details - The loan of HKD 5.5 million carries an annual interest rate of 15% and is due for repayment five months from the withdrawal date, specifically on October 21, 2025 [1] - The loan is intended for two main purposes: HKD 1.7 million to release existing share pledges related to the 2024 comprehensive offer and HKD 3.8 million for general working capital [1] Group 2: Financial Deterioration - Following the loan, the financial condition of Mr. Wang and the company worsened, constituting a significant adverse change under the loan agreement, triggering default events [2] - Mr. Wang failed to meet substantial personal obligations arising from the 2024 comprehensive offer, including unpaid professional fees to Shenwan Hongyuan (Hong Kong) Limited, amounting to over HKD 900,000 [2] Group 3: Share Pledge and Offer - After the enforcement of the share pledge, the offeror, All Fortress Group Limited, and Mr. Luo Mingyi acquired rights to 27.559 million shares, representing approximately 68.90% of the company's total issued share capital [3] - The offer is unconditional and requires no minimum acceptance condition, with a cash offer of HKD 0.223 per share, reflecting a discount of about 54.02% from the last trading price of HKD 0.485 [3][4]
裕丰昌控股(08631)获董事罗名译折让约54.02%提全购要约