Raffles Capital : Clarification - A$1.5 million Convertible Note

Raffles Capital Limited is a diversified financials company focused on funding and investment solutions. The Company operates through strategic share investment within Australia segment. The Company operates through its interest in Sequoia Capital (Hong Kong) Limited, which offers services, such as design and planning, and sales and marketing, principally in China. Its business units include principal investments, corporate advisory and growth consulting. It provides corporate advisory services to help companies, principally investee targets to secure seed funding, strategic resources, board of directors, and panel of experts for their business development, complying with international accounting standard and management practices. It provides growth and expansion consulting and management services to help companies to raise growth funding through the issuance of asset-back bonds, convertible bonds, investment trusts, preference shares, warrants and sale-and-leaseback schemes.