Huscoke Holdings Limited announced that it has entered into a CB subscription agreement for a private placement of convertible bonds with Wahen Investments Limited for an aggregate principal amount of HKD 154,000,000 on September 19, 2022. The bonds will be carrying an interest rate of 8% p.a. The bonds will have an initial conversion price of HKD 0.212 per share for 726,415,094 shares to be issued upon conversion. The bonds will mature on the date falling on the second anniversary of the date of issue of the Convertible Bonds; and if that is not a Business Day, the Business Day immediately after such date.

The convertible bonds will be redeemed by the Company on the Maturity Date at its principal amount outstanding. The company will incur expenses of HKD 500,000 in the transaction.