ISSUE OF CONVERTIBLE NOTES
The Board is pleased to announce that on 31 May 2018 (after trading hours), the Company entered into the Subscription Agreement with the Subscriber, pursuant to which the Company conditionally agreed to issue, and the Subscriber conditionally agreed to subscribe for the Notes in an aggregate principal amount of up to HK$80,000,000 at the Issue Price. The Notes comprise two tranches. Each tranche will be in an aggregate principal amount of HK$40,000,000. The Notes bear interest from and including the Interest Commencement Date at the rate of 0.80% per annum payable quarterly in arrear and will mature on the first anniversary of the Closing Date.