Investor Presentaiton
HKAS 1.51(a)
HKAS 1.49
HK Listco Ltd
A16(10)(1)
A16(10)(3)
Financial statements for the year ended 31 December 2023
Convertible notes
On 31 December 2020, the company issued 2 tranches, Tranche A and B, of 5,000,000 convertible
notes. Each tranche has a face value of HK$5,000,000 and a maturity date of 31 December 2025. The
notes bear interest at [•] % per annum and are unsecured.
The rights of the noteholders to convert the notes into ordinary shares are as follows:
•
•
•
Conversion rights are exercisable at any time up to maturity at the noteholders' option.
If a holder of Tranche A notes exercises its conversion rights, the company is required to deliver
ordinary shares at a rate of one ordinary share for every 20 notes converted.
If a holder of Tranche B notes exercises its conversion rights, the company has the right to choose
whether to deliver ordinary shares at a rate of one ordinary share for every 20 notes converted, or
whether to settle in cash at an amount equal to the fixed number of shares under the conversion
option multiplied by the average closing price of the shares on The Stock Exchange of Hong Kong
Limited for the [●] days immediately preceding the date of conversion.
Notes of either tranche, in respect of which conversion rights have not been exercised, will be
redeemed at face value on 31 December 2025.
(iii)
Redeemable preference shares
On 1 January 2021, the group issued 4,000,000 redeemable preference shares, which are redeemable
at face value of $4,000,000 on 31 December 2027. Preference shareholders' rights are described in
note 32(c)(i). Dividends are set at 5% of the face value and are payable semi-annually in arrears.
(iv)
Loans from non-controlling shareholders of a subsidiary
The loans from a non-controlling shareholders of a subsidiary bear interest at prime rate plus
annum, are unsecured and are repayable on 31 December 2026.
1% per
(v)
Loans from fellow subsidiaries
HKAS 24.18(b)
The loans from the fellow subsidiaries bear interest at prime rate plus [●] % per annum, are unsecured
and repayable on 31 December 2028.
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