I-CABLE COMM(01097): Renewal of revolving credit

I-CABLE COMM (01097) announces that on February 28, 2025, the cable television (as the borrower) has accepted the lender's offer for the renewal and amendment of the revolving credit terms. According to the renewal credit letter, among other matters, the cable television has committed that the company's controlling shareholder, Eternal Ascend (Asia) Limited ("Eternal Ascend"), will hold more than 35% of the total issued shares of the company; be the single largest shareholder of the company; and continue to be primarily held by Dr. Cheng Ka-Chun. If there is a breach of the above commitment, the lender has the right to suspend, revoke, or demand repayment of all or any part of the credit facilities given to the cable television at any time, or determine whether to allow drawdowns on the credit granted under the renewal credit letter. Additionally, one of the prerequisites for accessing the credit under the renewal credit letter is that the advances made by Celestial Pioneer Limited to cable television must be of a rearward-facing nature. As of the date of this announcement, Eternal Ascend holds approximately 43.22% of the total issued shares of the company, while Celestial Pioneer Limited holds 72% of Eternal Ascend's total issued shares.