Best Mart 360 secures RMB65m loan, details CEO's compensation increase

Best Mart 360 Holdings Limited announced a new RMB65,000,000 credit facility agreement entered into by its wholly-owned subsidiary, CIAO International Limited. This 24-month loan facility will support the borrower's liquidity management and business operations. A key condition of the agreement is that China Merchants Hoi Tung Trading Company Limited (CMHT) must maintain control of the borrower; CMHT currently holds 49% of the company's issued share capital.

The company also released supplemental information regarding the emoluments of Mr. Hui Chi Kwan, chief executive officer since April 2015, for the financial years ended 31 March 2019 to 2022. Mr. Hui's total emoluments increased from HK$1,368,000 in 2019 to HK$3,401,000 in 2022. This includes salaries and other benefits rising from HK$1,200,000 to HK$3,075,000, and bonuses increasing from HK$150,000 to HK$308,000 over the same period, with pension contributions remaining constant at HK$18,000 annually.

This supplemental disclosure complies with Rule 13.18 of the Listing Rules and will be included in future interim and annual reports as long as the conditions persist. The announcement was made by order of the board, chaired by Mr. Lu Rong.