Chinese Energy Holdings Limited (SEHK:8009) announced that it has entered into an agreement with Gold Achieve Investments Limited to issue 10 convertible notes of HKD 1,000,000 each for gross proceeds of HKD 10,000,000 on January 21, 2019. The notes will have an interest rate of 8% per annum payable on monthly and will be convertible into 11,111,111 new shares of the company at an initial conversion price is HKD 0.900 per conversion share. The transaction does not need shareholder's approval is required for the allotment and issue of the conversion shares. The notes will have a maturity date as the date falling on the fourth anniversary of the issue date. The conversion price of the notes will be subject to certain adjustments.