Eurosports Global Limited (Catalist:5G1) announced that it has entered into a placement agreement of unsecured unsubordinated non-listed convertible bonds on best efforts basis for gross proceeds of SGD 8,000,000 on August 28, 2018. The transaction will include participation from high net worth individuals, family offices, corporate, and accredited investors. The bonds carry a fixed interest rate of 5% per annum, payable every twelve months. The bonds will mature in three years from the date of issuance and will be issued at par. The bonds are fully convertible into 33,333,333 common shares of the company; representing 11.17% of the enlarged paid up share capital of the company. The investor may request the exchange of up to 50% of bonds into shares. The bonds are redeemable. The bonds which are not redeemed or purchased, converted or cancelled by the company will be redeemed by the company at 100% of their principal amount on the maturity date. The closing of the transaction is subject to the fulfillment of certain conditions including the approval of board of directors of the company. The bonds constitute direct, unconditional, unsecured, and unsubordinated obligations of the company. The bonds shall be issued in registered form in the denomination of SGD 250,000 each. The company will pay SGD 328,000 as issuance expenses and will receive net proceeds of SGD 7,672,000 in the transaction.