Songdu Service (09608) announced that since the previous subscription items have been fully paid, on March 14, 2024 (payment...
Zhitong Finance App News, Songdu Service (09608) announced that since the previous subscription items have been fully paid, on March 14, 2024 (after the trading period), the company (as a subscriber) entered into a convertible note agreement with Black Cat (as issuer) on further subscription matters for the convertible stock notes. According to this, the company agreed to use the proceeds from the possible subscription of new shares under a general mandate to conditionally further subscribe for a total of 6 million Australian dollars (equivalent to about HK$31.1 million). Interest withholding tax ).
On the same day, the company entered into a subscription agreement to conditionally acquire a total of about 133 million Black Cat shares (equivalent to about 30.2% of Black Cat's issued share capital) at a total cost of 30 million Australian dollars (equivalent to approximately HK$155.5 million) at a total cost of AUD 0.225 per Black Cat share using proceeds from possible subscription of new shares under a general mandate.
According to reports, Black Cat is a company listed on the Australian Stock Exchange (stock code: BC8), which is mainly engaged in mineral exploration and economic evaluation of gold mining projects located in Western Australia.
According to the announcement, due to current interest rates, the convertible stock notes are charged at an annual interest rate of 10%, which is relatively higher than normal long-term deposit interest rates in China and Hong Kong. At the same time, further subscription transactions have obtained a steady and considerable interest cash inflow. Therefore, the company believes that fixed interest income from further subscription transactions will bring a stable source of cash inflows to the Group. Furthermore, the directors believe that the acquisition of Black Cat shares will mitigate and diversify the potential risk of focusing only on services related to the real estate industry.