Grand Field Group Holdings Limited entered into a subscription agreement with returning individual investor Tsang Tsz Nok Aleen for issuing a convertible bond at a price of HKD 101,912,000 but no less than HKD 100,869,000 on March 6, 2024. The bond bears an interest rate of 6% payable every six months, and matures at the end of 36 months from the issue date. The bond is convertible in whole or in part into common shares of par value HKD 0.01 in an integral multiple of HKD 1,000,000 at an initial conversion price of HKD 2.6 per share subject to certain conditions.

The transaction is subject to approval from authorities including but not limited to government or regulatory authorities.