Shanghai Industrial Holdings Limited (00363.HK) (SIHL) announced that it entered into a facility agreement with a bank on 1 December 2011 for a term loan facility of HK$900 million for a term of up to 31 December 2014.

Under the agreement, Shanghai Industrial Investment (Holdings) Company Limited (SIIC), the controlling shareholder of SIHL, must hold at least 35% ultimate beneficial interest of and in the voting share capital of SIHL or have management control over SIHL; and the government of Shanghai, the controlling shareholder of SIIC, must hold at least 51% beneficial interest of and in the voting share capital of SIIC.

As at 1 December 2011, SIIC is interested in 56.58% of the issued voting share capital of SIHL.