Frontier Services Group Limited announced that it has entered into subscription agreement to issue convertible bonds for an aggregate gross proceeds of HKD 210,000,000 on September 23, 2021. The transaction will include participation from new investors, CC GL Limited for HKD 100,000,000, Asiatech Energy Service Limited for HKD 50,000,000, Lin Liqin for HKD 30,000,000, Ang Keng Lam for HKD 20,000,000, and Kam Yuen for HKD 10,000,000. The bonds are convertible into 210,000,000 shares at a conversion price of HKD 1 per share. The bonds carry rate of interest of 2.5% per annum and will mature on the second anniversary of the issue date of the bonds. The bonds are redeemable. The transaction is subject to all the necessary consents from the relevant government or regulatory authorities. The closing of the transaction shall take place in Hong Kong within 5 business days following the date on which the investors are notified by the company or such other place and date as the parties may agree.