SITC International Announces Controlling Shareholder Pledges 14.75% Stake to Hong Kong Bank

Stock News10-29

SITC (ASX: 01308) has issued an announcement regarding a share pledge by its controlling shareholder.

On October 29, 2026, Resourceful Link Management Limited (Resourceful Link), the controlling shareholder of SITC (01308), pledged 400 million ordinary shares of the company's issued share capital (the Pledged Shares) to a Hong Kong licensed bank (the Bank).

The pledge serves as security for a loan facility (the Loan) granted by the Bank to Mr. Yang Shaopeng (Mr. Yang), the controlling shareholder of SITC (01308).

As of the date of this announcement, the Pledged Shares represent approximately 14.75% of the company's total issued share capital.

On the date the security was established, Mr. Yang indirectly controlled all issued shares of Resourceful Link through a family trust, and Resourceful Link held approximately 40.49% of the company's issued share capital.

The Loan is not used to secure any debts of the company or its subsidiaries (the Group), nor is it used to provide any guarantee or other support for the Group's liabilities.

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