Green International Holdings Limited (SEHK:2700) announced that it has entered into a subscription agreement for private placement of convertible bonds with new investor, Hong Kong Qian Hai Financial Group Limited, for gross proceeds of HKD 12,000,000 on April 5, 2016. The bonds bear interest at a rate of 8% per annum, payable on the maturity. The bonds will have a term of three years.

The transaction is not subject to shareholders' approval. The company will issue 40,000,000 shares, in multiples of HKD 1,000,000, upon conversion at a price of HKD 0.30 per share, representing 1.99% stake in the company. The bonds will be convertible from the first anniversary of the issuance till the maturity date.

The transaction can be terminated by either of the parties, if the conditions precedent, are not met by May 5, 2016. The transaction will close within five days after the fulfillment of the precedent conditions.