Reference is made to the announcements of the Company dated 31 May 2018, 20 June 2018 and 29 June 2018 and the circular of the Company dated 11 July 2018 (the ‘‘Circular’’) in relation to the proposed issue of convertible notes under specific mandate. Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular.
The Board is pleased to announce that all the conditions precedent set out in the Subscription Agreement have been fulfilled and completion of issue of the first tranche of the Notes to the Subscriber in the principal amount of HK$40,000,000 took place on 31 July 2018 in accordance with the terms of the Subscription Agreement.