ayondo Ltd. (Catalist:1I5) announced that it has entered into agreements for private placement of convertible notes for gross proceeds of SGD 8,775,000 on August 22, 2019. The transaction will include participation from individual investor Mamoru Taniya for SGD 675,000 and new investor Golden Nugget Jinzhuan Limited for SGD 8,100,000. No placement agent has been appointed and no commission or finder’s fees has been paid by the company pursuant to the transaction. The notes constitute direct, unsubordinated, and unsecured obligation of the company. The note to be issued to Mamoru Taniya shall bear no interest, will mature on the date falling three years from the date of issuance, are convertible into aggregate of 96,428,471 common share at the fixed conversion price of SGD 0.007, the conversion period is at any time from the issuance of the notes to one day prior to the maturity date. The notes cannot be transferred. If Mamoru Taniya does not exercise its option to convert notes, prior to maturity date, unless maturity is extended, the notes shall be repaid by the company within 30 days from the maturity date. The notes will be issued to Golden Nugget Jinzhuan Limeted in traches, first tranche of SGD 675,000 will be within five days. The notes will bear an interest rate of 12%, will mature on the date falling three years from the date of issuance, the notes are convertible into common shares at a conversion price of SGD 0.007. The notes are transferable in whole but not in part. The transaction has been approved SGX-ST and German Federal Financial Supervisory Authority. Mamoru Taniya will own 4.09% stake and Golden Nugget Jinzhuan Limited will own 66.67% stake upon closing of the transaction and conversion of notes. The transaction is subject to approval from shareholders and has been approved in the general meeting.