Elate Holdings Limited announced that it has entered into a Subscription Agreement with an individual investor, Zhang Zheng to issue 6-year Convertible Debentures due 2030 for the aggregate principal amount of HKD 21,000,000 on April 26, 2024. The Conversion Price shall be HKD 0.30 and the maturity date is April 26, 2030. Debenture Holder shall have the right to convert the principal amount of the Debentures in whole or in part in multiples of HKD 10,000 into the New Shares at the prescribed Conversion Price within the Conversion Period.