TA YANG GROUP HOLDINGS LIMITED Ta Yang Group Holdings Limited announced that it has entered into a subscription agreement for the issuance of convertible bond for gross proceeds of HKD 40,000,000 on July 3, 2023. The transaction will include participation from new investor, Rising Jiarui Investment Management Co., Ltd. The convertible bond will bear interest rate of 10% per annum and will mature on the third anniversary of the date of issuer of the convertible bonds. The bonds are convertible at an initial conversion price of HKD 0.257 per conversion shares for total of 155,642,023 shares of the company.
The subscription agreement is subject to and conditional upon the listing committee of the Stock Exchange shall have granted the permission to deal in the conversion shares to be issued upon exercise of the conversion rights of the convertible bonds.
