Value Convergence : (I) PLACING OF NEW SHARES UNDER GENERAL MANDATE; (II) PLACING OF CONVERTIBLE BONDS UNDER SPECIFIC MANDATE; AND (III) VOLUNTARY ANNOUNCEMENT - ENTERING INTO THE JV AGREEMENT AND THE LICENSE AGREEMENT

July 24, 2020 at 08:30 am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

Value Convergence Holdings Limited

(Incorporated in Hong Kong with limited liability)

Website: http://www.vcgroup.com.hk

(Stock Code: 821)

(I) PLACING OF NEW SHARES UNDER GENERAL MANDATE;

PLACING OF CONVERTIBLE BONDS UNDER SPECIFIC MANDATE;
AND

VOLUNTARY ANNOUNCEMENT - ENTERING INTO THE JV AGREEMENT
AND THE LICENSE AGREEMENT

Placing Agent

VC Brokerage Limited

PLACING OF NEW SHARES UNDER GENERAL MANDATE
On 24 July 2020 (after trading hours), the Company entered into the Share Placing Agreement with the Placing Agent, pursuant to which the Company was desirous of offering the Placing Shares free from any encumbrance whatsoever for subscription and appointed the Placing Agent on sole and exclusive basis to place and procure subscriptions for the Placing Shares on a best effort basis subject to the terms and conditions set out in the Share Placing Agreement. The Placing Agent shall procure not less than six Share Placing Placees to subscribe for up to 246,000,000 Placing Shares at a price of HK$0.2 per Placing Share.
The maximum of 246,000,000 Placing Shares represent (i) approximately 19.98% of the aggregated number of the issued Share as at the date of this announcement; and (ii) approximately 16.66% of the aggregated number of issued Shares as enlarged by the issue of the 246,000,000 Placing Shares.

The Placing Price of HK$0.2 per Placing Share represents (i) a discount of approximately 4.31% to the closing price of HK$0.209 per Share as quoted on the Stock Exchange on the date of the Share Placing Agreement; and (ii) a discount of approximately 4.76% to the average of the closing prices for the five consecutive trading days immediately prior to the date of the Share Placing Agreement as quoted on the Stock Exchange of HK$0.210 per Share.

Assuming all the Placing Shares are successfully placed by the Placing Agent, the gross proceeds from the Share Placing will be HK$49,200,000 and the Company intends to use the net proceeds of approximately HK$48,200,000 from the Share Placing for (i) general working capital as to approximately HK$33,200,000; and (ii) possible business development in relation to the JV Agreement and the License Agreement as mentioned in the below sections as to approximately HK$15,000,000.

The Share Placing is not subject to Shareholders' approval as the Placing Shares will be allotted and issued pursuant to the General Mandate. The Company will apply to the Listing Committee of the Stock Exchange for the listing of, and permission to deal in, the Placing Shares.

PLACING OF CONVERTIBLE BONDS UNDER SPECIFIC MANDATE
On 24 July 2020 (after trading hours), the Company entered into the CB Placing Agreement with the Placing Agent, pursuant to which the Company proposed to offer for subscription, and the Placing Agent had agreed to procure subscriptions for, the Convertible Bonds on a best effort basis on the terms and subject to the conditions set out in the CB Placing Agreement. The Placing Agent shall procure not less than six CB Placing Placees to subscribe for the Convertible Bonds in the principal amount of up to HK$52,000,000.
In the case of the Conversion Rights having been exercised in full at the initial Conversion Price of HK$0.2, a maximum of 260,000,000 new Shares to be allotted and issued by the Company, representing (i) approximately 21.12% of the aggregated number of the issued Share as at the date of this announcement; and (ii) approximately 17.44% of the aggregated number of issued Shares as enlarged by the issue of 260,000,000 Conversion Shares (assuming there is no other change in the issued share capital of the Company between the date of this announcement and the full conversion of the Convertible Bonds).
The initial Conversion Price of HK $0.2 represents (i) a discount of approximately 4.31% to the closing price of HK$0.209 per Share as quoted on the Stock Exchange on the date of the CB Placing Agreement; and (ii) a discount of approximately 4.76% to the average of the closing prices for the five consecutive trading days immediately prior to the date of the CB Placing Agreement as quoted on the Stock Exchange of HK$0.210 per Share.

Assuming all the Convertible Bonds are successfully placed by the Placing Agent, the gross proceeds from the CB Placing will be approximately HK $52,000,000 and the Company intends to use the net proceeds of approximately HK$50,200,000 from the CB Placing for (i) general working capital as to approximately HK$35,200,000; and (ii) possible business development in relation to the JV Agreement and the License Agreement as mentioned in the below sections as to approximately HK$15,000,000.

The Conversion Shares will be allotted and issued pursuant to the Specific Mandate which is subject to Shareholders' approval at the EGM. The Company will apply to the Listing Committee of the Stock Exchange for the listing of, and permission to deal in, the Conversion Shares.

ENTERING INTO THE JV AGREEMENT AND THE LICENSE AGREEMENT
The Board is pleased to announce that, on 17 July 2020 (after trading hours), VC Global entered into the JV Agreement with Vast Sea and Success Health, pursuant to which VC Global and Vast Sea have agreed to establish a joint venture vehicle, being Success Health, to carry on and conduct the Business.
On 17 July 2020 (after trading hours), Success Health entered into a license agreement with Vast Sea, pursuant to which Success Health desires to market and sell the Core Ingredients in the form of AVL-19 and develop potential alternative uses and applications for the Core Ingredients while Vast Sea desires for Success Health to have the sole legal right to manufacture, sublicense and market and sell worldwide the Core Ingredients in the form of AVL-19 and to develop potential alternative uses and applications for the Core Ingredients through Success Health and its affiliates.

Pursuant to the License Agreement, Vast Sea, being the sole legal and beneficial owner of the tangible embodiments of the Invention, is ready and willing to license the Patent exclusively to Success Health under and in accordance with the License Agreement.

GENERAL

further details of the CB Placing; and (ii) a notice convening the EGM, will be despatched to the Shareholders on or before 14 August 2020 in compliance with the Listing Rules.

Shareholders and potential investors of the Company should note that the Share Placing Completion and the CB Placing Closing are subject to the fulfilment of the conditions precedent under the Share Placing Agreement and the CB Placing Agreement. As the Share Placing and the CB Placing may or may not proceed, Shareholders and potential investors of the Company are reminded to exercise caution when dealing in the securities of the Company.

PLACING OF NEW SHARES UNDER GENERAL MANDATE
On 24 July 2020 (after trading hours), the Company entered into the Share Placing Agreement with the Placing Agent, pursuant to which the Company was desirous of offering the Placing Shares free from any encumbrance whatsoever for subscription and appointed the Placing Agent on sole and exclusive basis to place and procure subscriptions for the Placing Shares on a best effort basis subject to the terms and conditions set out in the Share Placing Agreement. The Placing Agent shall procure not less than six Share Placing Placees to subscribe for up to 246,000,000 Placing Shares at a price of HK$0.2 per Placing Share.
THE SHARE PLACING AGREEMENT Date
24 July 2020 (after trading hours)
Issuer
The Company
Placing Agent
VC Brokerage Limited, a wholly-owned subsidiary of the Company
Share Placing Commission
Subject to the Share Placing Completion having taken place, the Company shall pay to the Placing Agent a placing commission, in Hong Kong dollars, which shall be equivalent to 2% of the aggregate amount of the Placing Price multiplied by the number of Placing Shares placed during the Share Placing Period.
Share Placing Placees
The Placing Agent agreed to act as agent of the Company to procure not less than six Share Placing Placee(s) to subscribe for the Placing Shares. The Share Placing Placee(s) shall be any investor who is an individual, institutional or professional investor selected and/or procured by or on behalf of the Placing Agent as contemplated by the Share Placing Agreement and is (i) independent of the Company (and the Group), its connected person(s) and their respective associate(s), and (ii) independent of and not parties acting in concert with any persons, other Share Placing Placee(s) or Shareholders to the effect that any Share Placing to such investor shall not trigger any mandatory offer obligation under Rule 26.1 of the Takeovers Code, procured by the Placing Agent to subscribe for the Placing Shares pursuant to the Placing Agent's obligations under the Share Placing Agreement.

Placing Shares

The Placing Agent agreed to procure not less than six Share Placing Placee(s) to subscribe for up to 246,000,000 Placing Shares at the Placing Price during the Share Placing Period on terms and conditions set out in the Share Placing Agreement on a best effort basis. The maximum of 246,000,000 Placing Shares represent (i) approximately 19.98% of the aggregated number of the issued Share as at the date of this announcement; and (ii) approximately 16.66% of the aggregated number of issued Shares as enlarged by the issue of the 246,000,000 Placing Shares.

The Placing Shares shall rank pari passu in all respects with the existing Shares then in issue.

Placing Price

The net Placing Price (after deducting related costs and expenses of the Placing) is approximately HK$0.196 per Share.

The Placing Price was determined after arm's length negotiations between the Parties on the date of the Share Placing Agreement with reference to, among others, the prevailing market price of the Shares.

Conditions Precedent to the Share Placing Agreement

The Share Placing Completion shall be conditional upon the satisfaction or fulfilment of such conditions precedent as set out hereunder:

the Board having approved the Share Placing and the transactions contemplated under the Share Placing Agreement;
the Placing Agent having successfully procured Share Placing Placee(s) ready, willing and able to subscribe for and to accept the allotment of, the Placing Shares or any portfolio thereof during the Share Placing Period;
the Company having complied with, the procured for the compliance with, all laws as well as all conditions (if any) imposed by the Stock Exchange or by any other competent authority for issuance and allotment of the Placing Shares as well as the listing of and permission to deal in the Placing Shares and ensure the continued compliance thereof (provided in each case that the Share Placing Placee(s) complies with and satisfies all such conditions);

the Placing Agent having compiled and delivered to the Stock Exchange a comprehensive list showing the name, address (or registered address if a corporation), country of incorporation (if a corporation) and other requisite information and details of the Share Placing Placees and the number of Placing Shares to be subscribed by each Share Placing Placee;
the Listing Committee having granted approval for the listing of, and permission to deal in, the Placing Shares, and such approval not having been revoked, suspended, withdrawn or cancelled, or threatened with any revocation, suspension, withdrawal or cancellation at any time prior to the Share Placing Closing Date;
the Shares remaining listed on the Main Board of the Stock Exchange, and that the listing status of the Shares not being subject to or threatened with any revocation, suspension, withdrawal or cancellation at any time prior to the Share Placing Closing Date;
(if required) the Company having obtained the necessary consent, approval, authorisation, permission, or confirmation from any third party to which the Company have entered into any agreement or arrangement; and
the Company's representations and warranties made pursuant to the Share Placing Agreement being true and accurate and not misleading up to Share Placing Completion.

The conditions precedent contained in (a) to (g) above cannot be waived by any Party. The Placing Agent may at any time unilaterally waive the condition precedent (h) above. As soon as practicable after the execution of the Share Placing Agreement and in any event, by the Share Placing Closing Date, the Company shall use its best endeavours to procure the satisfaction of such conditions precedent as set out in (a), (c) and (e) to (g) as well as (h) above (in case the condition precedent

has not been waived by the Placing Agent) while the Placing Agent shall use all its best endeavours to procure the satisfaction of such conditions precedent (b), (d) and (e) above.

If any one or more of the conditions precedent shall not have been satisfied or fulfilled by the Share Placing Closing Date or any of the force majeure event set out in the section headed "Force Majeure to the Share Placing Agreement" below shall have occurred, subject to the terms in relation to failure to complete or lapse or termination of the Share Placing as set out in the Share Placing Agreement, all obligations and responsibilities of the Placing Agent and those of the Company under the Share Placing Agreement shall cease and determine forthwith and no Party shall have any claim whatsoever against the other Party in relation thereto save for any antecedent breach of the Share Placing Agreement and without prejudice to the accrued rights and liabilities of each Party.

Force Majeure to the Share Placing Agreement

If at any time between the execution of the Share Placing Agreement and on the Business Day immediately prior to the Share Placing Completion Date, there occurs:

the introduction of any new law or regulation or any change in existing laws or regulations (or the judicial interpretation thereof) or other occurrence of any nature whatsoever which may, in the reasonable opinion of the Placing Agent, materially and adversely affect the business or the financial or trading position or prospects of the Company;
the occurrence of any local, national or international event or change occurring after the date of the Share Placing Agreement of a political, military, financial, economic, currency (including a change in the system under which the value of the Hong Kong currency is linked to the currency of the United States of America) or other nature (whether or not sui generis with any of the foregoing), or in the nature of any local, national, international outbreak or escalation of hostilities or armed conflict, or affecting local securities market or the occurrence of any combination of circumstances which may, in the reasonable opinion of the Placing Agent, materially and adversely affect the business or the financial or trading position or prospects of the Company or adversely prejudices the success of the Share Placing (such success being the completion of the placing of the Placing Shares to potential investor(s)) or otherwise makes it inexpedient or inadvisable for the Company or the Placing Agent to proceed with the Share Placing;
any change in market conditions or combination of circumstances in Hong Kong (including without limitation suspension or material restriction on trading in securities) occurs after the date of the Share Placing Agreement which materially and adversely affects the success of the Share Placing (such success being the completion of the placing of the Placing Shares to potential investor(s)) or otherwise in the reasonable opinion of the Placing Agent make it inexpedient or inadvisable or inappropriate for the Company or the Placing Agent to proceed with the Share Placing;
the Company commits any material breach of or omits or fails to observe any of its obligations or undertakings under the Share Placing Agreement; or
any of the representations or warranties contained in the Share Placing Agreement was, when given or deemed to be repeated under the Share Placing Agreement, untrue or inaccurate in any material respect or would in any material respect be untrue or inaccurate, or if repeated the Placing Agent shall determine in its reasonable opinion that any such untrue representation or warranty represents or is likely to represent a material adverse change in the financial or trading position or prospects of the Company or will otherwise likely to have a material prejudicial effect on the Share Placing,

then the Placing Agent may upon giving notice to the Company terminate the Share Placing Agreement with immediate effect. If the Share Placing Agreement shall be terminated pursuant to the abovementioned force majeure, the obligations of the Placing Agent shall cease and determine, and the Company shall not be liable to pay any commission under certain provisions of the Share Placing Agreement, and other provisions of the Share Placing Agreement (other than certain provisions as set out in the Share Placing Agreement and all other provisions necessary for the interpretation or enforcement of such provisions and without prejudice to the accrued rights and liabilities of the Parties) shall forthwith cease and determine and no Party shall, save as provided in the abovementioned force majeure, have any claim against the other Party for compensation, costs, damages or otherwise.

Completion of the Share Placing

Subject to the fulfilment of the conditions precedents to the Share Placing Agreement, the Share Placing Completion shall take place on the Share Placing Completion Date.

General Mandate

The Share Placing is not subject to Shareholders' approval as the Placing Shares will be allotted and issued pursuant to the General Mandate. As at the date of this announcement, the General Mandate has not been utilised since it was granted and the maximum number of new Shares that could be issued by the Company under the General Mandate is 246,190,319 Shares.

Application for Listing

The Company will apply to the Listing Committee of the Stock Exchange for the listing of, and permission to deal in, the Placing Shares.

PLACING OF CONVERTIBLE BONDS UNDER SPECIFIC MANDATE
On 24 July 2020 (after trading hours), the Company entered into the CB Placing Agreement with the Placing Agent, pursuant to which the Company proposed to offer for subscription, and the Placing Agent had agreed to procure subscriptions for, the Convertible Bonds on a best effort basis on the terms and subject to the conditions set out in the CB Placing Agreement. The Placing Agent shall procure not less than six CB Placing Placees to subscribe for the Convertible Bonds in the principal amount of up to HK$52,000,000.
THE CB PLACING AGREEMENT Date
24 July 2020 (after trading hours)
Issuer
The Company

Placing Agent

VC Brokerage Limited, a wholly-owned subsidiary of the Company

CB Placing Commission

The Company shall pay to the Placing Agent (i) a documentary fee of HK$150,000 whether or not CB Placing Closing takes place; and (ii) provided that CB Placing Closing occurs in accordance with the CB Placing Agreement, a commission, in Hong Kong dollars, of 3% of the amount equal to the principal amount of the Convertible Bonds which the Placing Agent has successfully procured subscribers for the Convertible Bonds.

CB Placing Placees

The Placing Agent agreed to procure not less than six CB Placing Placee(s) to subscribe for the Convertible Bonds on terms and conditions set out in the CB Placing Agreement on a best effort basis. The CB Placing Placee(s) shall be any investor who is either a professional or institutional investor or other investors selected and procured by or on behalf of the Placing Agent as contemplated by the CB Placing Agreement and is independent as referred in the next paragraph below, procured by the Placing Agent to subscribe for any of the Convertible Bonds pursuant to the Placing Agent's obligations under the CB Placing Agreement.

The Placing Agent shall and shall procure its sub-placing agent (if applicable and any) to use its reasonable endeavours to ensure that all CB Placing Placees and their ultimate beneficial owners (a) shall be independent of and not connected with the Company (and its subsidiaries), its connected person(s) and their respective associate(s); (b) shall be independent of and not be parties acting in concert with any persons, other CB Placing Placee(s) or Shareholders to the effect that any CB Placing to such CB Placing Placee(s) shall not trigger any mandatory offer obligation under Rule 26.1 of the Takeovers Code; and (c) shall be regarded as public (within the meaning as defined under Rule 8.24 of the Listing Rules).

Conditions precedent to the CB Placing Agreement

The CB Placing Closing is conditional upon:

the Listing Committee having granted approval for the listing of, and permission to deal in, the Conversion Shares on the Stock Exchange and the approval not having been subsequently revoked or cancelled;
if required, the Company having obtained the necessary consent, approval, authorisation, permission, or confirmation for the consummation of the transactions contemplated under the CB Placing Agreement from any third party to which the Company or its subsidiaries have entered into any agreement or arrangement;

the Specific Mandate having been granted to the Board; and
the Company's representations and warranties made pursuant to the CB Placing Agreement being true and accurate and not misleading as of the date of the CB Placing Agreement and the CB Placing Closing Date.

The conditions precedent contained in (a) to (c) above cannot be waived by any Party. The Placing Agent may at any time unilaterally waive the condition precedent (d) above. The Company shall use all its reasonable endeavours to procure the satisfaction of the conditions precedent as set out above, but if the conditions precedent shall not have been so satisfied (or, where applicable, waived) by the CB Placing Long Stop Date or any of the force majeure event set out in the section headed "Force Majeure to the CB Placing Agreement" below shall have occurred, subject to terms in relation to failure to complete or lapse or termination of the CB Placing as set out in the CB Placing Agreement, all obligations of the Placing Agent and of the Company under the CB Placing Agreement shall cease and determine and none of the Parties shall have any claim against the other in relation thereto save for any antecedent breach of any obligations under the CB Placing Agreement and without prejudice to the accrued rights and liabilities of the Parties.

Force Majeure to the CB Placing Agreement

If at any time between the date of the CB Placing Agreement and the CB Placing Closing Date, there occurs:

the introduction of any new legislations or regulation or any change in existing legislations or regulations (or the judicial interpretation thereof) or other occurrence of any nature whatsoever which may, in the reasonable opinion of the Placing Agent, materially and adversely affect the business or the financial or trading position or prospects of the Company;
the occurrence of any local, national or international event or change occurring after the date of the CB Placing Agreement of a political, military, financial, economic, currency (including a change in the system under which the value of the Hong Kong currency is linked to the currency of the United States of America) or other nature (whether or not sui generis with any of the foregoing), or in the nature of any local, national, international outbreak or escalation of hostilities or armed conflict, or affecting local securities market or the occurrence of any combination of circumstances which may, in the reasonable opinion of the Placing Agent, materially and adversely affect the business or the financial or trading position or prospects of the Company or adversely prejudices the success of the CB Placing (such success being the completion of the placing of the Convertible Bonds to potential investor(s)) or otherwise makes it inexpedient or inadvisable for the Company or the Placing Agent to proceed with the CB Placing;

any change in market conditions or combination of circumstances in Hong Kong (including without limitation suspension or material restriction on trading in securities) occurs after the date of the CB Placing Agreement which materially and adversely affects the success of the CB Placing (such success being the completion of the placing of the Convertible Bonds to potential investor(s)) or otherwise in the reasonable opinion of the Placing Agent make it inexpedient or inadvisable or inappropriate for the Company or the Placing Agent to proceed with the CB Placing;
the Company commits any material breach of or omits to observe any of its obligations or undertakings under the CB Placing Agreement; or
any of the representations or warranties contained in the CB Placing Agreement was, when given or deemed to be repeated under the CB Placing Agreement, untrue or inaccurate in any material respect or would in any material respect be untrue or inaccurate, or if repeated the Placing Agent shall determine in its reasonable opinion that any such untrue representation or warranty represents or is likely to represent a material adverse change in the financial or trading position or prospects of the Company or will otherwise likely to have a material prejudicial effect on the CB Placing,

then the Placing Agent may upon giving notice to the Company terminate the CB Placing Agreement with immediate effect. If the CB Placing Agreement shall be terminated pursuant to the abovementioned force majeure, the obligations of the Placing Agent shall cease and the Company shall not be liable to pay any commission under certain provisions of the CB Placing Agreement, and other provisions of the CB Placing Agreement (other than certain provisions as set out in the CB Placing Agreement and all other provisions necessary for the interpretation or enforcement of such provisions and without prejudice to the accrued rights and liabilities of the Parties) shall forthwith cease and determine and no Party shall, save as provided in the abovementioned force majeure, have any claim against the other Party for compensation, costs, damages or otherwise.

CB Placing Closing

Subject to the fulfilment of the conditions precedent to the CB Placing Agreement, the CB Placing Closing shall take place on the CB Placing Closing Date.

Specific Mandate

The Conversion Shares will be allotted and issued pursuant to the Specific Mandate which is subject to Shareholders' approval at the EGM.

PRINCIPAL TERMS OF THE CONVERTIBLE BONDS

Set out below are the principal terms of the Convertible Bonds:

Issuer:	The Company
Principal amount:	Up to HK$52,000,000
Maturity date:	The date which falls on the third anniversary of the First
	Issue Date (the "Maturity Date").
Interest:	The Convertible Bonds shall not bear any interest whatsoever.
Conversion Price:	HK$0.2 per Conversion Share, subject to adjustment(s) upon
	occurrence of certain events as summarised in the paragraph
	headed "Adjustments to the Conversion Price" below.
	The initial Conversion Price of HK$0.2 per Conversion
	Share represents:
	(i)	a discount of approximately 4.31% to the closing price
		of HK $0.209 per Share as quoted on the Stock
		Exchange on the date of the CB Placing Agreement;
	(ii)	a discount of approximately 4.76% to the average of
		the closing prices for the five consecutive trading days
		immediately prior to the date of the CB Placing
		Agreement as quoted on the Stock Exchange of
		HK$0.210 per Share.
	The net Conversion Price, after deduction of relevant
	expenses, is approximately HK$0.193 per Conversion Share.
	The initial Conversion Price was arrived at after arm's length
	negotiations between the Parties with reference to, among
	others, the prevailing market performance of the Shares.
Adjustments to the	The Conversion Price shall from time to time be subject to
Conversion Price:	adjustment in accordance with this paragraph if, whilst any
	of the Convertible Bonds remains outstanding, any of the
	following events or circumstances in relation to the Shares
	shall occur:
	(i)	if and whenever there shall be an alteration to the value
		o f t h e S h a r e s a s a r e s u l t o f c o n s o l i d a t i o n o r
		subdivision;

if and whenever the Company shall issue any Shares credited as fully paid to the Shareholders by way of capitalisation of profits or reserves (including any share premium account and/or capital redemption reserve), other than Shares issued in lieu of the whole or a part of a cash dividend and other than an issue that would amount to capital distribution (as defined in the CB Instrument);
if and whenever the Company shall pay or make any capital distribution (as defined in the CB Instrument) to the Shareholders;
if and whenever the Company shall issue Shares to all or substantially all Shareholders as a class by way of rights, or shall issue or grant to all or substantially all Shareholders as a class, by way of rights, any options, warrants or other rights to subscribe for or purchase any Shares, in each case at less than 95% of the fair market value of one Share, as determined in good faith by the independent accountant or financial advisor acting as an expert, on the day immediately preceding the date on which such issue or grant to Shareholders is made;
if and whenever the Company shall (a) issue any securities (other than Shares or options, warrants or other rights to subscribe for or purchase Shares) to all or substantially all Shareholders as a class by way of rights; or (b) grant to all or substantially all Shareholders as a class by way of rights any options, warrants or other rights to subscribe for or purchase any securities (other than Shares or options, warrants or other rights to subscribe for or purchase Shares);

if and whenever the Company shall wholly for cash (a) issue (otherwise than as mentioned in sub-paragraph (iv) above) any Shares (other than Shares issued on the exercise of Conversion Rights or on the exercise of any other rights of conversion into, or exchange or subscription for, Shares); or (b) issues or grants (otherwise than as mentioned in sub-paragraph (iv) above) options, warrants or other rights to subscribe for or purchase Shares, in each case at a price per Share which is less than 95% of the fair market value of one Share, as determined in good faith by the independent accountant or financial advisor acting as an expert, on the day immediately preceding the date of such issue or grant;
save in the case of an issue of securities arising from a conversion or exchange of other securities in accordance with the terms applicable to such securities themselves falling within the provisions of this sub-paragraph (vii), if and whenever the Company or any subsidiary of the Company (otherwise than as mentioned in sub-paragraphs (iv), (v) or (vi) above), or (at the direction or request of or pursuant to any arrangements with the Company or any subsidiary of the Company) any other company, person or entity, shall issue wholly for cash any securities (other than the Convertible Bonds) which by their terms of issue carry rights of conversion into, or exchange or subscription for, Shares to be issued by the Company upon conversion, exchange or subscription, at a consideration per Share which is less than 95% of the fair market value of one Share, as determined in good faith by the independent accountant or financial advisor acting as an expert, on the day immediately preceding the date of the issue of such securities;
if and whenever there shall be any modification of the rights of conversion, exchange or subscription attaching

t o a n y s u c h s e c u r i t i e s a s a r e m e n t i o n e d i n sub-paragraph (vii) above (other than in accordance with the terms applicable to such securities) so that the consideration per Share receivable by the Company is less than 95% of the fair market value of one Share, as determined in good faith by the independent accountant or financial advisor acting as an expert, on the day immediately preceding the date of such modification;

if and whenever the Company or any subsidiary of the Company or (at the direction or request of or pursuant to any arrangements with the Company or any subsidiary of the Company) any other company, person or entity issues, sells or distributes any securities in

c o n n e c t i o n w i t h a n o f f e r p u r s u a n t t o w h i c h Shareholders generally (meaning for these purposes the holders of at least 60% of the Shares outstanding at the time such offer is made) are entitled to participate in arrangements whereby such securities may be acquired by them (except where the Conversion Price falls to be adjusted under sub-paragraphs (iv) to (vii) above).

Conversion Shares: In the case of the Conversion Rights having been exercised in full, a maximum of 260,000,000 new Shares to be allotted and issued by the Company, representing:

approximately 21.12% of the aggregated number of the issued Share as at the date of this announcement; and
approximately 17.44% of the aggregated number of issued Shares as enlarged by the issue of 260,000,000 Conversion Shares (assuming there is no other change in the issued share capital of the Company between the date of this announcement and the full conversion of the Convertible Bonds).

Conversion period: The period commencing from the First Issue Date and ending on the date which falls on the fifth Business Day before the Maturity Date, both days inclusive, provided that if the Company fails to redeem the Convertible Bonds on the date of redemption in accordance with the terms of the CB Instrument the period shall continue until redemption in full occurs (the "Conversion Period").

Conversion rights: Each Bondholder shall have the right, exercisable during the Conversion Period in the manner provided in the CB Instrument, to convert the whole or any part (subject to the CB Instrument, in multiples of HK $500,000) of the outstanding principal amount of the Convertible Bonds held by such Bondholder into such number of Shares as will be determined by dividing the principal amount of the Convertible Bonds to be converted by the Conversion Price in effect on the Conversion Date.

Conversion restrictions: A Bondholder shall not exercise any Conversion Rights if, as a result of such exercise, it will cause the public float of the Company to be unable to meet the relevant requirements under the Listing Rules.

A Bondholder shall not exercise any Conversion Rights, and the Company shall not be required to issue any Conversion Shares, if, as a result of the relevant exercise of the Conversion Rights, the Bondholder and/or parties acting in concert with it would be required to make a mandatory general offer under Rule 26 of the Takeovers Code for the Shares held by the Company's other Shareholders (collectively, the "Conversion Restrictions").

Redemption at maturity: All Convertible Bonds which have not been redeemed or converted in accordance with the terms and conditions contained in the CB Instrument by the Maturity Date, shall be redeemed by the Company on the Maturity Date at a redemption amount equal to 100% of the principal amount of such Convertible Bonds.

Redemption on default: If any of the events ("Events of Default") specified in the CB Instrument occur, the Company shall forthwith give notice thereof to the Bondholders and each Bondholder may (without prejudice to any other rights and remedies available to the Bondholders), at its option, opt to convert their Convertible Bonds in its entirety or, alternatively, give a notice for redemption to the Company in respect of part or all of the Convertible Bonds held by it, whereupon such Convertible Bonds shall become immediately due and payable at a redemption amount equal to 100% of the principal amount of such Convertible Bonds. For any avoidance of doubt, there shall not be any redemption by any Bondholders prior to the Maturity Date unless an Event of Default occurs.

Ranking:Subject to the CB Instrument, the Shares issued upon exercise of Conversion Rights shall rank pari passu in all respects with all other existing Shares outstanding at the Conversion Date and all Conversion Shares shall include rights to participate in all dividends and other distributions the record date of which falls on or after the Conversion Date.

Transferability:	Subject to compliance with the Listing Rules and regulatory
	requirements, the Convertible Bonds may (subject to the CB
	Instrument) be transferred to any person provided that where
	the Convertible Bond(s) is/are intended to be transferred to a
	connected person (other than the associates of the Bondholder),
	such transfer shall comply with the requirements under the
	Listing Rules and/or requirements imposed by the Stock
	Exchange, if any.
	Any transfer of the Convertible Bonds shall be in respect of
	the whole or any part (subject to the CB Instrument, in
	multiples of HK$500,000) of the outstanding principal
	amount of the Convertible Bonds.
Status:	The obligations of the Company arising under the Convertible
	Bonds constitute general, unsecured and unsubordinated
	obligations of the Company and rank equally among
	themselves and pari passu with all other present and future
	unsecured and unsubordinated obligations of the Company
	except for obligations accorded preference by mandatory
	provisions of applicable law.
Application for listing:	No application shall be made to the Stock Exchange for the
	listing of the Convertible Bonds. The Company will apply to
	the Listing Committee of the Stock Exchange for the listing
	of, and permission to deal in, the Conversion Shares.

REASONS FOR THE SHARE PLACING AND THE CB PLACING AND USE OF PROCEEDS

The Group is an established financial services group committed to delivering premier financial services and products that fulfil various investment and wealth management needs of clients in the Greater China region. The Group's expertise includes (i) provision of financial services comprising securities, futures and options brokering and dealing, financing services, corporate finance and other advisory services, asset management and insurance brokerage; and (ii) proprietary trading.

Assuming all the Convertible Bonds are successfully placed by the Placing Agent, the gross proceeds from the CB Placing will be approximately HK$52,000,000 and the Company intends to use the net proceeds of approximately HK$50,200,000 from the CB Placing for (i) general working capital as to approximately HK$35,200,000; and (ii) possible business development in relation to the JV Agreement and the License Agreement as mentioned in the below sections as to approximately HK$15,000,000.

As disclosed in the Company's annual report for the year ended 31 December 2019, the Group's business strategies are to enlarge the Group's revenue base through fostering its core businesses, and tap into new emerging markets with expanded business initiatives. In light of the current Hong Kong's economy and business environment, the Share Placing and the CB Placing will therefore enhance the Group's flexibility in dealing with economic, political and epidemic uncertainties.

The Directors are of the view that (i) the Share Placing Agreement and CB Placing Agreement are entered into upon normal commercial terms following arm's length negotiations between the Parties; (ii) the Share Placing will enlarge the shareholder base and the capital base of the Company; (iii) the CB Placing will not have an immediate dilution effect on the shareholding of the existing Shareholders; and (iv) the net proceeds of the Share Placing and CB Placing will strengthen the financial position of the Group for its business development. Accordingly, the Directors consider that the terms of the Share Placing Agreement and CB Placing Agreement (including the Placing Price, the Conversion Price and placing commissions) are fair and reasonable and that the Share Placing and CB Placing are in the interests of the Company and the Shareholders as a whole.

EQUITY FUND RAISING ACTIVITIES IN THE PAST TWELVE MONTHS

Date of	Fund raising		Intended use of the net	Actual use of the
announcements	activity	Net proceeds	proceeds	net proceeds
30 March 2020 and	Placing of new	Approximately	Development of the	The placing
28 April 2020	Shares under	HK$67.4 million	e-commerce business	agreement was
	general mandate		or general working	lapsed as
			capital of the Group or	announced by
			possible investment	the Company
				on 28 April
				2020

Save as disclosed above, the Company has not conducted any equity fund raising activities in the 12 months prior to the date of this announcement.

SHAREHOLDING STRUCTURE

The table below illustrates the shareholding structure of the Company (i) as at the date of this announcement; (ii) immediately upon the Share Placing Completion (assuming the Placing Shares were placed in full); (iii) immediately upon full conversion of the Convertible Bonds after the CB Placing Closing (assuming the Convertible Bonds were placed in full); and (iv) immediately upon the Share Placing Completion and upon full conversion of the Convertible Bonds after the CB Placing Closing (assuming the Placing Shares and the Convertible Bonds were placed in full and there is no other change in the issued share capital of the Company from the date of this announcement up to the date of full conversion of the Convertible Bonds):

												(iv) Immediately upon
												the Share Placing Completion
												and upon full conversion of
												the Convertible Bonds
												upon the CB Placing Closing
												(assuming the Placing Shares
												and the Convertible Bonds
												were placed in full and
												there is no other change in
									(iii) Immediately upon full	the issued share capital of
									conversion of the Convertible	the Company from the
					(ii) Immediately upon the		Bonds after the CB Placing	date of this announcement
					Share Placing Completion		Closing (assuming the	up to the date of full
	(i) As at the date of this		(assuming the Placing Shares		Convertible Bonds were	conversion of the
	announcement		were placed in full)		placed in full)	Convertible Bonds)
	No. of Shares		Approx.		No. of Shares	Approx.		No. of Shares	Approx.	No. of Shares	Approx.
Director
Mr. Wong Chung Kin, Quentin	500,000	0.04%	500,000	0.03%	500,000	0.03%		500,000	0.03%
Substantial Shareholder
Mr. Chung Chi Shing, Eric (Note 1)	368,352,000	29.92%	368,352,000	24.94%	368,352,000	24.71%		368,352,000	21.21%
The Share Placing Placees	-		-	246,000,000	16.66%		-	-	246,000,000	14.16%
The CB Placing Placees (Note 2)	-		-		-	-	260,000,000	17.44%		260,000,000	14.97%
Public Shareholders	862,099,598	70.04%	862,099,598	58.37%	862,099,598	57.82%		862,099,598	49.63%

Total	1,230,951,598	100.00%	1,476,951,598	100.00%	1,490,951,598	100.00%		1,736,951,598	100.00%

Notes:

As at the date of this announcement, Mr. Chung Chi Shing, Eric ("Mr. Chung"), is beneficially interested in 293,352,000 Shares, and is deemed to be interested in 75,000,000 Shares owned by Power Global Group Limited, the entire issued shares of which is legally and beneficially owned by Mr. Chung, under Part XV of the SFO.
The above information is for illustration purpose only. Conversion of the Convertible Bonds is limited by the Conversion Restrictions, according to which no Bondholder may convert the Convertible Bonds to an extent which would trigger the mandatory offer obligation under the Takeovers Code. Therefore, the Bondholders will not be able to convert the Convertible Bonds to an extent which causes its voting right in the Company to exceed 30%.

E N T E R I N G I N T O T H E J V A G R E E M E N T A N D T H E L I C E N S E AGREEMENT
THE JV AGREEMENT
The Board is pleased to announce that, on 17 July 2020 (after trading hours), VC Global entered into the JV Agreement with Vast Sea and Success Health, pursuant to which VC Global and Vast Sea have agreed to establish a joint venture vehicle, being Success Health, to carry on and conduct the Business.
A summary of the principal terms of the JV Agreement are set out below.
Date: 17 July 2020 (after trading hours)
Parties: VC Global, Vast Sea and Success Health

To the best knowledge, information and belief of the Directors, having made all reasonable enquires, the ultimate beneficial owners of Vast Sea are Norman Zhennan Lai, Dahang Wei, Ying Wang and Ming Zhao, and Vast Sea and its ultimate beneficial owners are independent of and not connected with the Company and its connected persons (as defined under the Listing Rules) as at the date of this announcement.

Pursuant to the JV Agreement, shares in Success Health will be issued at par of US$1 each to Vast Sea. VC Global and Vast Sea will be interested in 51 shares and 49 shares representing 51% and 49% of the enlarged issued share capital of Success Health respectively.

Business of Success Health

Success Health shall be responsible for conducting, operating, managing and/or developing the Business globally by manufacturing, producing, selling, distributing, marketing, promoting and/or such other relevant aspects of products based on, formulated through or creating out of the Core Ingredients and the Invention (as defined below).

INFORMATION ON THE GROUP AND VC GLOBAL

VC Global is a direct wholly-owned subsidiary of the Company and a company incorporated in British Virgin Islands with limited liability. Its principal business activity is investment holding.

INFORMATION ON VAST SEA

Vast Sea is a limited liability company incorporated in the State of Maryland, the United States of America. Vast Sea is principally engaged in the biomedical research and development of biotechnology, and in the course of such research and development, engineers of Vast Sea developed a novel compound (the "Core Ingredients").

Invention and patent

Vast Sea has further developed a formula for a dietary supplement (the "AVL-19") which contains the Core Ingredients, Vitamins C, B6, B12, D3, Zinc, L-Arginine and N-Acetyl Cysteine, one delivery mechanism for which is a dissolvable tablet. Vast Sea believe that AVL-19 and the Core Ingredients have the potential to support the human immune system consistent with the benefits associated with dietary supplements (the "Invention").

In June 2020, Vast Sea applied for and obtained a provisional patent registration from the United States Patent and Trademark Office with respect to the Invention, as evidenced by provisional patent registration number 63/041,587 for composition and methods for treating COVID-19 (the "Patent").

THE LICENSE AGREEMENT

On 17 July 2020 (after trading hours), Success Health entered into a license agreement with Vast Sea, pursuant to which Success Health desires to market and sell the Core Ingredients in the form of AVL-19 and develop potential alternative uses and applications for the Core Ingredients while Vast Sea desires for Success Health to have the sole legal right to manufacture, sublicense and market and sell worldwide the Core Ingredients in the form of AVL-19 and to develop potential alternative uses and applications for the Core Ingredients through Success Health and its affiliates (the "License Agreement").

Sub-licensing right

Success Health shall have the absolute right to enter into sub-licensing agreements under the licensed patent rights with any party as and where Success Health deems fit and appropriate in its sole and absolute discretion free from any interference whatsoever, whether by or of Vast Sea or any third party, for the procedures as defined in the License Agreement or any part thereof.

Sale price

Pursuant to the License Agreement, Success Health and Vast Sea agreed that Vast Sea shall sell each set of Core Ingredients (for the manufacture of 15 tablets of AVL-19) to Success Health at the sale price of cost to Vast Sea or an agreed price, whichever lower. Further, Vast Sea shall only sell the Core Ingredients to Success Health and under no circumstance shall Vast Sea sell any Core Ingredients to any third party without prior written approval of and by Success Health.

REASONS FOR AND BENEFITS OF THE JV AGREEMENT AND THE LICENSE AGREEMENT

As disclosed in the annual report of the Company for the year ended 31 December 2019, the Group's business strategies has remained unchanged, to enlarge revenue base of the Group by strengthening the existing core businesses, tap into new emerging markets with expanded business initiatives and explore business opportunities.

The Directors are of the view that the establishment of Success Health would provide an opportunity for the Group to tap into new market and business and expand its revenue sources. The Directors consider that it is a good timing and opportunity for the Company to entered into the JV Agreement and the License Agreement. The Directors are of the view that the terms of the JV Agreement and the License Agreement are fair and reasonable and is in the interests of the Company and the Shareholders as a whole.

GENERAL

The EGM will be convened for the purpose of considering and, if thought fit, approving the CB Placing Agreement and the transaction contemplated thereunder, including issue of the Convertible Bonds, allotment and issue of the Conversion Shares, and grant of the Specific Mandate. A circular containing, among other things, (i) further details of the CB Placing; and (ii) a notice convening the EGM, will be despatched to the Shareholders on or before 14 August 2020 in compliance with the Listing Rules.

DEFINITIONS

The following terms have the following meanings in this announcement unless the context otherwise requires:

"acting in concert"	has the meaning ascribed thereto in the Takeovers
	Code
"associate(s)"	has the meaning ascribed thereto in the Listing
	Rules
"Board"	the board of Directors
"Bondholder(s)"	the person(s) who for the time being is the holder
	of the Convertible Bond(s) with the benefit of and
	subject to the provisions of the CB Instrument
"Business"	the relevant business from the commercial
	application of the Invention
"Business Day(s)"	any day (excluding Saturdays, Sundays, public
	holidays and days on which a tropical cyclone
	warning No. 8 or above or a "black rainstorm
	warning signal" is hoisted in Hong Kong at any
	time between 9:00 a.m. and 5:00 p.m.) on which
	licensed banks generally are open for general
	banking business in Hong Kong
"CB Instrument"	the instrument constituting the Convertible Bonds
"CB Placing"	the proposed placing of the Convertible Bonds on
	the terms and subject to the conditions set out in
	the CB Placing Agreement
"CB Placing Agreement"	the agreement entered into between the Company
	and the Placing Agent dated 24 July 2020 in
	respect of the CB Placing
"CB Placing Closing"	the completion of the CB Placing

"CB Placing Closing Date"	any Business Day within a period of five Business
	Days following the date on which the conditions
	precedent of the CB Placing Agreement are
	fulfilled or, if applicable, waived (or such later
	date as the Parties may agree)
"CB Placing Long Stop Date"	30 October 2020 (or such later date as may be
	agreed by the Parties in writing)
"CB Placing Period"	the one - month period commencing on the
	Business Day immediately after the granting of
	the Specific Mandate, or such longer period of
	time as the Parties may otherwise agree in
	writing, unless terminated earlier pursuant to the
	terms of the CB Placing Agreement
"CB Placing Placee(s)"	any investor who is either a professional or
	institutional investor or other investors selected
	and procured by or on behalf of the Placing Agent
	as contemplated by the CB Placing Agreement
	and is independent as referred to in the CB
	Placing Agreement, procured by the Placing
	Agent to subscribe for any of the Convertible
	Bonds pursuant to the Placing Agent's obligations
	under the CB Placing Agreement
"Company"	Value Convergence Holdings Limited, a company
	incorporated in Hong Kong with limited liability,
	the shares of which are listed on the Main Board
	of the Stock Exchange
"connected person(s)"	has the meaning ascribed thereto in the Listing
	Rules
"Conversion Date"	the date on which the Company receives or is
	deemed to have received a duly completed and
	executed conversion notice together with the bond
	certificate(s) of the for the Convertible Bond(s)
	being converted by a Bondholder pursuant to the
	CB Instrument or, insofar as is appropriate, the
	date on which it is automatically triggered under
	and pursuant to any agreement for or in relation
	to any subscription of the Convertible Bonds

"Conversion Price"	HK $ 0 . 2 per Conversion Share, subject to
	adjustment pursuant to paragraph headed
	"Adjustments to the Conversion Price" in this
	announcement
"Conversion Rights"	the rights pursuant to the CB Instrument attaching
	to each Convertible Bond to convert the principal
	amount or a part thereof into Shares
"Conversion Share(s)"	in the case of the Conversion Rights having been
	exercised in full, a maximum of 260,000,000 new
	Shares to be allotted and issued by the Company
	pursuant to the terms and conditions contained in
	the CB Instrument, which, upon conversion of the
	Convertible Bonds in their entirety, shall
	represent up to approximately 17.44% of the
	entire portfolio of issued shares in the Company
	as enlarged following conversion
"Convertible Bonds"	up to HK $ 52,000,000 3 - year zero coupon
	unsecured non-redeemable convertible bonds to
	be issued by the Company in denomination of
	HK$500,000 each with the benefit of and subject
	to the provisions of the CB Instrument
"Director(s)"	the director(s) of the Company
"EGM"	the extraordinary general meeting to be convened
	by the Company to approve, among others, the
	CB Placing Agreement and the transaction
	contemplated thereunder and the Specific
	Mandate
"First Issue Date"	the initial date of issue of the Convertible Bonds
	under and pursuant to the CB Instrument
"General Mandate"	the general mandate granted by the Shareholders
	to the Directors to allot, issue and deal with not
	more than 246,190,319 new Shares at the annual
	general meeting of the Company held on 27 May
	2020
"Group"	the Company and its subsidiaries
"Hong Kong"	Hong Kong Special Administrative Region of the
	People's Republic of China

"JV Agreement"	the joint venture agreement dated 17 July 2020
	entered into among VC Global, Vast Sea and
	Success Health in relation to the formation of
	Success Health
"Listing Committee"	the listing committee appointed by the Stock
	Exchange for considering applications for listing
	and approving the listing of and dealing with
	securities on the Stock Exchange
"Listing Rules"	the Rules Governing the Listing of Securities on
	the Stock Exchange
"Parties"	collectively, the Company and the Placing Agent,
	and individually, a "Party"
"Placing Agent"	VC Brokerage Limited, a licensed corporation by
	the SFC to carry out and conduct type 1 (dealing
	in securities) and type 4 (advising on securities)
	regulated activities under and pursuant to the SFO
"Placing Price"	HK$0.2 per Placing Share
"Placing Share(s)"	up to 246,000,000 new Shares to be allotted and
	issued by the Company under the General
	Mandate and pursuant to the Share Placing
	Agreement on the Share Placing Completion
	Date, and the Placing Shares shall rank pari passu
	in all respects with the existing Shares then in
	issue
"SFC"	the Securities and Futures Commission of Hong
	Kong
"SFO"	The Securities and Futures Ordinance (Chapter
	571 of the Laws of Hong Kong)
"Share(s)"	the ordinary share(s) of the Company
"Shareholder(s)"	holder(s) of the Share(s) from time to time
"Share Placing"	the placing of the Placing Shares under and in
	accordance with the Share Placing Agreement

"Share Placing Agreement"	the agreement entered into between the Company
	and the Placing Agent dated 24 July 2020 in
	respect of the Share Placing
"Share Placing Closing Date"	any Business Day not later than 31 August 2020,
	being the date on which all the conditions
	precedent in the Share Placing Agreement have
	been satisfied or fulfilled, though the Parties may
	agree in writing to have the Share Placing Closing
	Date postponed to a subsequent Business Day
"Share Placing Completion"	the overall completion of the Share Placing,
	which shall take place on the Share Placing
	Completion Date
"Share Placing Completion	the date of Share Placing Completion, which shall
Date"	be any Business Day falling within five Business
	Days after the Share Placing Closing Date
"Share Placing Period"	the period commencing forthwith upon the
	execution of the Share Placing Agreement and
	expiring on 14 August 2020 or such later date as
	the Parties may agree in writing
"Share Placing Placee(s)"	any investor who is an individual, institutional or
	professional investor selected and/or procured by
	or on behalf of the Placing Agent as contemplated
	by the Share Placing Agreement and is (i)
	independent of the Company (and the Group), its
	connected person(s) and their respective
	associate(s), and (ii) independent of and not
	parties acting in concert with any persons, other
	Share Placing Placee(s) or Shareholders to the
	effect that any Share Placing to such investor
	shall not trigger any mandatory offer obligation
	under Rule 26.1 of the Takeovers Code, procured
	by the Placing Agent to subscribe for the Placing
	Shares pursuant to the Placing Agent's obligations
	under the Share Placing Agreement
"Specific Mandate"	the specific mandate granted to the Board to allot,
	issue and deal with the Conversion Shares at the
	relevant extraordinary general meeting of the
	Company to be convened by the Company

"Stock Exchange"	The Stock Exchange of Hong Kong Limited
"Success Health"	Success Health Global Limited, a company
	incorporated in British Virgin Islands and a
	wholly-owned subsidiary of VC Global
"Takeovers Code"	the Code on Takeovers and Mergers and Share
	Buy-backs published by the SFC
"VC Global"	VC Global Investments Limited, a company
	incorporated in British Virgin Islands and a
	wholly-owned subsidiary of the Company
"Vast Sea"	Vast Sea, LLC
"HK$"	Hong Kong dollars, the lawful currency of Hong
	Kong
"US$"	United States dollars, the lawful currency of
	United States of America
"%"	per cent.
	By order of the board of
	Value Convergence Holdings Limited
	Fu Yiu Man, Peter
	Chairman & Executive Director
Hong Kong, 24 July 2020

As at the date of this announcement, the Board comprises three executive Directors, namely, Mr. Fu Yiu Man, Peter (Chairman), Mr. Tin Ka Pak, Timmy and Mr. Lin Hoi Kwong, Aristo; and three independent non-executive Directors, namely, Mr. Wong Chung Kin, Quentin, Mr. Wong Kam Choi, Kerry, MH and Mr. Siu Miu Man, Simon, MH.

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Value Convergence Holdings Ltd. published this content on 24 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 July 2020 12:30:13 UTC

Market Closed - Hong Kong S.E. Other stock markets 04:08:20 2024-04-26 am EDT			5-day change	1st Jan Change
0.063 ^HKD	-1.56%		-12.50%	-57.14%

Apr. 02	Value Convergence Posts Higher 2023 Loss Despite Better Revenue	MT
Apr. 01	Value Convergence Holdings Limited Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Value Convergence Posts Higher 2023 Loss Despite Better Revenue	Apr. 02	MT
Value Convergence Holdings Limited Reports Earnings Results for the Full Year Ended December 31, 2023	Apr. 01	CI
Value Convergence Holdings Limited Provides Group Earnings Guidance for the Year Ended 31 December 2023	Mar. 22	CI
Value Convergence Conducts a Series of Share Disposals	Mar. 20	MT
Value Convergence to Net HK$28 Million From Share Sale; Shares Rise 7%	Feb. 23	MT
Value Convergence Holdings Limited entered into Sale and Purchase Agreement to acquire 24% stake in Zhanhua Jiutai Gas Inc. from Beijing Zhonglu Longxiang Investment Co., Ltd. for HKD 30 million.	Feb. 21	CI
Value Convergence Cancels HK$81.6 Million Convertible Bond Sale	Jan. 19	MT
Value Convergence Holdings Limited cancelled the transaction announced on September 25, 2023	Jan. 18	CI
Value Convergence Arm Sells Over 54 Million China Nuclear Shares	Jan. 16	MT
Value Convergence Disposes of China Nuclear Energy Technology Shares for HK$21 Million	Jan. 05	MT
Value Convergence Extends Placing Period, Long Stop Date Under Share Placement Agreement	Dec. 15	MT
Value Convergence Holdings Limited announced that it expects to receive HKD 81.6 million in funding	23-09-24	CI
Value Convergence Intends to Pick a Stake in Financial Services Firm uSmart	23-09-22	MT
Value Convergence Holdings Limited Reports Earnings Results for the Half Year Ended June 30, 2023	23-08-31	CI
Value Convergence to Widen H1 Loss	23-08-15	MT
Value Convergence Holdings Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended June 30, 2023	23-08-15	CI
Value Convergence Holdings Unit Completes Acquisition of Anli Asset Management	23-04-05	MT
Value Convergence Holdings Limited completed the acquisition of ANLI Asset Management Limited and Anli Investment Fund SPC.	23-04-02	CI
Value Convergence Holdings Limited Reports Earnings Results for the Full Year Ended December 31, 2022	23-03-30	CI
Value Convergence Raises HK$36 Million with Share Placement	23-03-14	MT
Value Convergence Holdings Warns of Loss in 2022	23-03-13	MT
Value Convergence Holdings Limited Provides Earning Guidance for the Year Ended 31 December 2022	23-03-10	CI
Value Convergence Unit Acquires Asset Manager For $1.9 Million	22-11-28	MT
Value Convergence Holdings Limited agreed to acquire ANLI Asset Management Limited and 100 shares of Anli Investment Fund SPC for HKD40 million.	22-11-24	CI
Value Convergence Swings to H1 Loss	22-09-20	MT

	1st Jan change	Capi.
VALUE CONVERGENCE HOLDINGS LIMITED	-57.14%	20.22M
MORGAN STANLEY	-0.30%	151B
THE GOLDMAN SACHS GROUP, INC.	+10.85%	144B
CHARLES SCHWAB	+8.96%	137B
CITIGROUP INC.	+21.83%	118B
CITIC SECURITIES COMPANY LIMITED	-5.94%	34.48B
RAYMOND JAMES FINANCIAL, INC.	+9.19%	25.28B
CSC FINANCIAL CO., LTD.	-9.42%	20.14B
LPL FINANCIAL HOLDINGS INC.	+16.38%	19.83B
NOMURA HOLDINGS, INC.	+43.36%	17.2B

Value Convergence Holdings Limited

Equities

821

HK0000048543

Investment Banking & Brokerage Services

Value Convergence : (I) PLACING OF NEW SHARES UNDER GENERAL MANDATE; (II) PLACING OF CONVERTIBLE BONDS UNDER SPECIFIC MANDATE; AND (III) VOLUNTARY ANNOUNCEMENT - ENTERING INTO THE JV AGREEMENT AND THE LICENSE AGREEMENT

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