CARRIANNA (00126) provides financial assistance to a joint venture

CARRIANNA (00126) announces that on 29 September 2026, the borrower Hing Tat Development (Hong Kong) Limited, the lender, the Company and Hongda Investment entered into a facility agreement in respect of a term loan facility, pursuant to which the lender has agreed to provide the borrower with a term loan facility with an aggregate principal amount of up to HK$258.26 million, and the Company and Hongda Investment have agreed to provide guarantees to the lender on a joint and several basis; and in connection with the term loan facility, the borrower, the lender, Heyi, Yihui, Hongda Investment and the Company entered into a disbursement agreement, pursuant to which the Company and Hongda Investment have made certain commitments to the lender to complete the development project. The Group is principally engaged in, among other things, property development and sales. The joint venture company was established by the Company and Hongda Investment for the purpose of undertaking the development project. The development project refers to the development of the properties by the borrower and its subsidiaries. The properties are collectively referred to as the remaining portion of Section B of New Kowloon Inland Lot No. 2811, Sub-section 1 of Section C of New Kowloon Inland Lot No. 2811, the remaining portion of Section C of New Kowloon Inland Lot No. 2811, Section D of New Kowloon Inland Lot No. 2811, Section E of New Kowloon Inland Lot No. 2811 and the remaining portion of New Kowloon Inland Lot No. 2811 (property address: 300 to 306 Castle Peak Road, Kowloon, Hong Kong). Banks and third-party financial institutions typically require the borrower, its subsidiaries or its shareholders to provide guarantees and other security before providing loans or financing to the borrower. The term loan facility is provided to the joint venture company to refinance the acquisition cost of the properties and to finance up to 75% of the construction costs and professional fees. In this regard, the Company is required to provide guarantees and commitments in favour of the lender on a joint and several basis.