China Industrial Securities: Subsidiary guarantee trimmed to $50M

China Industrial Securities International Financial Group Limited announced a voluntary update on its business development, specifically regarding an increase in a guarantee with Nomura International PLC. On November 1, 2016, the company entered into a guarantee with Nomura to secure obligations of CISI Investment Limited, an indirect wholly-owned subsidiary.

To support the group's future investment plans, the company increased the guarantee amount from $100,000 to $50 million through internal control. The board of directors confirmed that Nomura and its ultimate beneficial owner are independent third parties.

This guarantee, provided to secure obligations of a wholly-owned subsidiary, does not constitute a notifiable or connected transaction under Chapter 14 or 14A of the Listing Rules. The board made this voluntary disclosure to inform shareholders and potential investors of this development.