INTEREST PAYMENT OF THE NOTES
The Company has recently received certain enquiries regarding the latest semi-annual interest payments due under the outstanding Notes.
The Board confirms that the Company has paid the semi-annual interest payment due for payment on 28 May 2019 to the Trustee for the outstanding Notes, which the Trustee has already confirmed receipt. The Company has also obtained confirmation that both Euroclear and Clearstream have released the funds to the Notes holders on 3 June 2019.
PARTIAL REPURCHASE OF THE NOTES
The Board announces that as at the date of this announcement, the Company has partially repurchased an aggregate principal amount of US$11,000,000 of the Notes in the open market for a net consideration of approximately US$9.945 million, which was settled on 3 June 2019. All the repurchased Notes have been cancelled.
Upon completion of the cancellation, the outstanding principal amount of the Notes is US$389,000,000.
The Company always aims to optimise its financing cost, thus may further repurchase the outstanding Notes in the open market if and when appropriate, taking into account factors such as market conditions and price of the Notes.
Shareholders and potential investors should note that any further repurchase of the Notes may or may not be done, subject to market conditions and at the Board's absolute discretion. There is no assurance of the timing, quantity or price of any repurchase of the Notes. Shareholders and potential investors should therefore exercise caution when dealing in the shares of the Company.
By order of the board of directors of
361 Degrees International Limited
Hong Kong, 6 June 2019
As at the date of this announcement, the board of directors of the Company comprises four executive directors, namely Mr. Ding Wuhao, Mr. Ding Huihuang (Chairman), Mr. Ding Huirong and Mr. Wang Jiabi, and three independent non-executive directors, namely, Mr. Li Yuen Fai Roger, Dr. Liao Jianwen and Mr. Hon Ping Cho Terence.