Yau Lee Holdings (00406.HK) has entered into a facility agreement with a bank in Hong Kong for a revolving loan facility in the sum of HK$21 million and for a foreign exchange contract facility the applicable limit of which is to be approved on a case-by-case basis.

Under the agreement, Yau Lee undertakes to ensure that Wong Ip-kuen, the controlling shareholder of Yau Lee, and his family, in aggregate hold not less than 40% of the equity interest and voting shares of the company. Wong and his family own approximately 59.50% of the issued share capital of the company.