The Board of Directors of JES International Holdings Limited has announce that the Company’s wholly-owned subsidiary, Jiangsu Eastern Heavy Industries Co., Ltd had entered into a banking facilities up to USD15 million with China Minsheng Banking Corp. Limited, Jiangsu Suzhou Branch.
The Facilities granted to the subsidiary will be used for its working capital and is not expected to have any material impact on the net tangible assets or earnings per share of the Company for the financial year ending 31 December 2013.
None of the Directors or substantial shareholders of the Company has any direct or indirect interest in the Facilities.
[mappress]
Press Release, February 5, 2013