CHK Oil: Xin Hua Petroleum Pledges 493.87 Million Shares for HK$30.00 Million Loan

Bulletin Express11-11

CHK Oil Limited disclosed that on 11 November 2026 it entered into a loan agreement with Time Credit Limited, a licensed Hong Kong money lender, securing a facility of up to HK$30.00 million. As collateral, controlling shareholder Xin Hua Petroleum (Hong Kong) Limited pledged 493.87 million CHK Oil ordinary shares to the lender.

The pledged shares account for approximately 51.64% of CHK Oil’s total issued share capital and about 89.7% of the 550.92 million shares held by the controlling shareholder, which represents 57.61% ownership of the company. Time Credit Limited is described as an independent third party with no connection to CHK Oil or its connected persons under Hong Kong Listing Rules.

The board cautions shareholders and potential investors to exercise prudence when dealing in CHK Oil shares.

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