CCT Fortis Holdings Limited announced that it has entered into a convertible bond placing agreement with the placing agent to issue convertible bonds in the aggregate principal amount of HKD 57,900,000 on July 28, 2023. The transaction will include participation from not less than 6 placees. The bonds carries a fixed rate of 4.5% per annum payable semi-annually on the date falling 6 months from the issue date of the convertible bonds and on the maturity date.

The bonds are convertible into 300,000,000 common shares of the company at initial conversation price of HKD 0.193 per share which represents a premium of approximately 4.89% over the average closing price of HKD 0.184 per share as quoted on the stock exchange for the last five consecutive trading days immediately prior to the date of the placing agreement. At the option of the company, the convertible bonds will be redeemable in whole or in part at any time before maturity date by giving not less than seven business days? notice to the holder.

The convertible bonds are unsecured. The convertible bonds are transferable in whole or in any parts in multiples of HKD 500,000 with the prior written consent of the company including a connected person of the company.