Christine International : DISCLOSEABLE TRANSACTION - PROVISION OF FINANCIAL ASSISTANCE TO INDEPENDENT THIRD PARTY

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CHRISTINE INTERNATIONAL HOLDINGS LIMITED 克莉絲汀國際控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1210) DISCLOSEABLE TRANSACTION PROVISION OF FINANCIAL ASSISTANCE TO INDEPENDENT THIRD PARTY PROVISION OF FINANCIAL ASSISTANCE

The Board announces that, on 13 July 2017, the Loan Agreement was entered into among the Lender, the Borrower and the Guarantor, pursuant to which the Lender agreed to grant to the Borrower, an Independent Third Party, a loan with principal amount of RMB35 million, bearing interest at a rate of 8% per annum, for a period of 62 days from the date of the Loan Agreement. The repayment obligations under the Loan Agreement are guaranteed by the Guarantor.

LISTING RULES IMPLICATIONS

As one of the applicable percentage ratios (as defined under the Listing Rules) in respect of the making of the Loan exceeds 5% but all the percentage ratios are less than 25%, the grant of the Loan constitutes a discloseable transaction of the Company pursuant to Chapter 14 of the Listing Rules which is subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules.

The Board announces that on 13 July 2017, the Loan Agreement was entered into among the Lender, the Borrower and the Guarantor, pursuant to which the Lender agreed to grant to the Borrower, an Independent Third Party, a loan with principal amount of RMB35 million, bearing interest at a rate of 8% per annum for a period of 62 days from the date of the Loan Agreement. The repayment obligations under the Loan Agreement are guaranteed by the Guarantor.

The principal terms of the Loan Agreement are summarised as follows:

THE LOAN AGREEMENT

Date: 13 July 2017

Lender: Shanghai Christine Foodstuff Co., Ltd.* (上海克莉絲汀食 品有限公司), a limited liability company incorporated under the laws of the PRC in 19 January 1993 and a wholly-owned subsidiary of the Company

Borrower: Nanjing Shuguang International Hotel Co., Ltd* (南京曙光

國際大酒店有限公司), a limited liability company incorporated in the PRC

Guarantor: Jiang Huiping* (江輝平)

Security: The Guarantor shall be jointly and severally liable for the

Borrowers's obligations to repay the Loan (including any interest incurred), in the event that the Borrower fails to perform its duties as set out in the Loan Agreement

Principal amount: RMB35,000,000

Term: 62 days from the date of the Loan Agreement

Interest: 8% per annum

Repayment: The Borrower shall fully repay the Loan in cash together

with accrued interest thereon on the repayment date by wire transfer

Repayment date: 12 September 2017

Default liabilities: In the event the Borrower fails to perform its duties under

the Loan Agreement, a default interest rate of 0.2% per day on the principal amount will be charged by the Lender against the Borrower commencing from the repayment date. The Borrower shall also indemnify the Lender for all costs incurred by it in connection with any related legal proceedings

Purpose: The Borrower intends to use the Loan for liquidity purpose

FUNDING OF THE LOAN

The Group will finance the Loan with the Company's internal resources, including cash and bank deposits.

INFORMATION OF THE BORROWER

The Borrower is a limited liability company incorporated in the PRC. It is principally engaged in the operation of Shuguang International Hotel Nanjing* (南京曙光國際大 酒店) in the PRC. To the best of the knowledge, information and belief of the Directors having made all reasonable enquiries, each of the Borrower and its ultimate beneficial owners is an Independent Third Party.

INFORMATION OF THE GUARANTOR

The Guarantor is a PRC national and a shareholder of the parent company of the Borrower, Shuguang Holding Group Limited* (曙光控股集團有限公司). To the best of the knowledge, information and belief of the Directors having made all reasonable enquiries, the Guarantor is an Independent Third Party.

INFORMATION OF THE GROUP AND THE LENDER

The Company is an investment holding company. The Group is a leading bakery chain operator in the PRC, principally engaged in the operation of retail chain selling bakery products.

The Lender is principally engaged in the production and sale of cakes and bakery products.

REASONS FOR AND BENEFITS OF THE PROVISION OF THE LOAN

The terms and interest rate of the Loan Agreement were negotiated on an arm's length basis between the Lender and the Borrower and determined with reference to prevailing market interest rates, commercial practices and market conditions. The Directors are of the view that the provision of the Loan is on normal commercial terms within the meaning of the Listing Rules. The Directors are of the view that the terms of the Loan Agreement was entered into on normal commercial terms. By entering into the Loan Agreement, the Group intends to increase the rate of return of its excess cash resources which can contribute to other income of the Group. The Loan will be recorded as a loan receivable under the current assets of the Group. The Group has taken into account the background and creditability of the Borrower. Based on the foregoing and the increased rate of return for its excess cash resources, the Directors consider that the terms of the Loan Agreement are fair and reasonable and the entering into of the Loan Agreement is in the interests of the Company and the Shareholders as a whole.

LISTING RULES IMPLICATIONS

As one of the applicable percentage ratios in respect of the making of the Loan exceed 5% but all the percentage ratios are less than 25%, the grant of the Loan constitutes a discloseable transaction of the Company pursuant to Chapter 14 of the Listing Rules and is subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules.

DEFINITIONS

In this announcement, unless the context otherwise requires, the following terms shall have the following meanings:

"Board" the board of Directors

"Borrower" Nanjing Shuguang International Hotel Co., Ltd.* (南京曙光

國際大酒店有限公司), a limited liability company incorporated in the PRC that engages in hotal operations

"Company" Christine International Holdings Limited, a company

incorporated in the Cayman Islands on 11 March 2008 with limited liability, the issued shares of which are listed on the Stock Exchange (stock code: 1210)

"Director(s)" the director(s) of the Company

"Group" the Company and its subsidiaries

"Guarantor" Jiang Huiping* (江輝平), who is a PRC national and a

shareholder of the parent company of the Borrower, Shuguang Holding Group Limited* (曙光控股集團有限公 司)

"Hong Kong" the Hong Kong Special Administrative Region of the PRC

"Independent Third Party"

a party independent of and not connected with the Company and its connected persons

"Lender" Shanghai Christine Foodstuff Co., Ltd.* (上海克莉絲汀食

品有限公司), a limited liability company incorporated under the laws of the PRC on 19 January 1993 and a wholly-owned subsidiary of the Company

"Listing Rules" the Rules Governing the Listing of Securities on the Stock

Exchange