ZYY(08223) plans to issue convertible bonds with a total principal amount of 10 million Hong Kong dollars.

ZYY (08223) announced that on April 1, 2025, the Company entered into a convertible bond subscription agreement with the subscriber Dansey P2 Limited. According to the agreement, the Company agrees to issue and the subscriber agrees to subscribe for a total principal amount of HK$10 million convertible bonds at 100% of the issue price. Assuming that all the conversion rights attached to the convertible bonds are exercised, with an initial conversion price of HK$1.51 per share, the Company will issue a maximum of 6.6225 million new shares, representing approximately 1.54% of the total number of issued shares as of the date of this announcement. Assuming no other changes in the issued share capital from the date of this announcement to the period when all the convertible bonds are converted, and including the conversion of all convertible bonds issued in March 2025, the total number of issued shares will be approximately 1.45% after the issuance of 6.6225 million new shares. The net proceeds from the subscription of the convertible bonds are approximately HK$9.5 million. The Company intends to use the net proceeds for the acquisition and/or development of new projects, repayment of short-term loans, and as general working capital for the Group.