ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
Home
Press release
Nov 03, 2020 10:00 JST
Source:
Zhonghua Gas Holdings Limited
Zhonghua Gas Holdings Limited Proposed Issue of Convertible Bonds in the Principal Amount of HK$97,800,000
HONG KONG, Nov 03, 2020 - (ACN Newswire) - Zhonghua Gas Holdings Limited (the "Company"; Stock Code: 8246) together with its subsidiaries (collective namely the "Group") today announces that on 2 November 2020 (after trading hours), the Company entered into Subscription Agreement with the wholly-owned subsidiary of Kai Yuan Holdings Limited (Stock Code: 1215) ("the Subscriber"), pursuant to which the Company has conditionally agreed to issue and the Subscriber has conditionally agreed to subscribe for the three-year Convertible Bonds in the aggregate principal amount of HK$97,800,000. The initial conversion price is HK$0.27 each (subject to adjustments).
As at the date of this announcement, the Company has a total of 3,622,136,000 Shares in issue. Assuming there is no further issue or repurchase of the Shares, based on the initial Conversion Price of HK$0.27 per Conversion Share and assuming full conversion of the Convertible Bonds took place, the Convertible Bonds will be convertible into 362,222,222 Conversion Shares, representing approximately 10.00% of the existing issued share capital of the Company as at the date of this announcement and approximately 9.09% of the issued share capital of the Company as enlarged by the issue of the Conversion Shares. The net proceeds are intended to be used for the enhancement of the existing business of the Group and working capital.
The Board of Directors believes that through issuing a convertible bond, it presents an opportunity for the Group to strengthen its financial position while optimizing its investor base and capital base. It will also set a good foundation for further strategic alliance with the Subscriber. Thus, the Group is optimistic towards the prospects of the Group.
Kai Yuan Holdings Limited is principally engaged in investment holding. One of its substantial shareholders is renowned Chinese entrepreneur Mr. Du Shuang Hua, who was ranked 65th in the Hurun Rich List of 2019. He has extensive businesses covering industries in steel manufacturing, logistics, banking and properties development in the PRC. The subsidiary companies of Kai Yuan are principally engaged in hotel operation and money lending business.
Zhonghua Gas Holdings Limited
Zhonghua Gas Holdings Limited is principally engaged in provision of diverse integrated new energy services including technological development, construction and consultancy services in relation to heat supply and coal-to-natural gas conversion, supply of liquefied natural gas, coupled with trading of new energy related industrial products. The Group is also engaged in the property investment business.
Media Contacts:
Angel Yeung
Jovian Communications Ltd
Tel: +852 2581 0168
Email:
news@joviancomm.com
Source: Zhonghua Gas Holdings Limited
Sectors: Daily Finance, Daily News
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
Eisai's Antiepileptic Drug Fycompa Injection Formulation Launched In Japan
Apr 17, 2024 16:17 JST
Honda Unveils Next-generation EV Series for China
Apr 17, 2024 12:15 JST
Lexus presents Time at the 2024 Milan Design Week
Apr 16, 2024 18:49 JST
Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
Apr 16, 2024 14:36 JST
New circuit challenge for TOYOTA GAZOO Racing
Apr 15, 2024 17:21 JST
TOYOTA GAZOO Racing back on asphalt for Croatian challenge
Apr 12, 2024 19:36 JST
Heidelberg Materials North America Announces Latest Milestone in Edmonton CCUS Project
Apr 12, 2024 14:39 JST
MHIAEL Completes Expansion of the its Nagasaki Plant for Manufacture of Aero Engine Combustors
Apr 11, 2024 18:08 JST
Mitsubishi Shipbuilding Acquires Approval in Principle (AiP) from Classification Society ClassNK for Ammonia Fuel Supply System (AFSS)
Apr 11, 2024 17:50 JST
DOCOMO, NTT, NEC and Fujitsu Develop Top-level Sub-terahertz 6G Device Capable of Ultra-high-speed 100 Gbps Transmission
Apr 11, 2024 15:10 JST
Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp
Apr 11, 2024 13:07 JST
Mitsubishi Shipbuilding Receives Order for Ammonia Fuel Supply System for Ammonia-Powered Marine Engine
Apr 10, 2024 16:55 JST
Transgene and NEC Present First Clinical Benefits of Neoantigen Cancer Vaccine, TG4050, in Head & Neck Cancer at AACR 2024
Apr 10, 2024 13:36 JST
DENSO, Companies Initiate Demonstration to Expand Automotive Recycling Process
Apr 09, 2024 19:07 JST
Mitsubishi Power Receives Order from HK Electric for Natural-gas-fired GTCC Power Generation Equipment
Apr 09, 2024 15:04 JST
MHI Thermal Systems Adds New KXZ3 Series of Building-use Multi-Split Air- Conditioners Adopting R32 Refrigerant
Apr 09, 2024 13:40 JST
Fujitsu AI transforms manufacturing lines with new quality control system for REHAU
Apr 09, 2024 10:39 JST
NEC white paper proposes comprehensive process workflow for the application of AI-driven personalized cancer vaccines
Apr 08, 2024 13:45 JST
Daihatsu and Toyota to Reform Structures towards the Revitalization of Daihatsu
Apr 08, 2024 13:37 JST
Hitachi Energy and SP Energy Networks to boost renewable energy flow
Apr 05, 2024 17:15 JST
More Latest Release >>
Related Release
Zhonghua Gas Holdings Limited Announces Signing Strategic Cooperation Agreement with Jiangsu Shagang Group for Expanding Liquefied Natural Gas Filling Station and Pipeline Gas Supply Business
September 15 2021 08:51 JST
Zhonghua Gas Holdings Limited Announces Completion of the Subscription Agreement of Issuance of Convertible Bonds Amounting to HK$97,800,000
November 18 2020 10:18 JST
Zhonghua Gas Holdings Limited Announces First Quarter Results for the Three Months Ended 31 March 2020
May 13 2020 09:36 JST
Zhonghua Gas Holdings Limited Announces 2019 Annual Results
March 31 2020 12:50 JST
Zhonghua Gas Holdings Limited Announces Results for the Nine Months Ended 30 September 2019
November 13 2019 09:27 JST
Zhonghua Gas Holdings Limited Announces Signed MOU on LNG Cooperation with Shenergy (Group)'s Wholly-Owned Subsidiary Shenergy Jiulian Group
October 25 2019 09:29 JST
Zhonghua Gas Holdings Limited Announces Audited Results for the Six Months Ended 30 June 2019
August 13 2019 09:27 JST
Zhonghua Gas Holdings Limited Announces Positive Profit Alert
July 31 2019 09:00 JST
Zhonghua Gas Holdings Limited Announces First Quarter Results for the Three Months Ended 31 March 2019
May 10 2019 11:52 JST
Zhonghua Gas Holdings Limited Announces Positive Profit Alert for 2019 First Quarter
April 26 2019 10:30 JST
More Press release >>