HATCHER GROUP (08365) proposes to issue convertible bonds with a principal amount of HKD 5.67 million.

HATCHER GROUP (08365) announced that on September 23, 2024, the company entered into a subscription agreement with the subscriber (Redbridge Capital Global Opportunities OFC), under which the company conditionally agreed to issue and the subscriber conditionally agreed to subscribe for convertible bonds in the amount of HK$5.67 million. Redbridge Capital Global Opportunities OFC is an open-end fund company established in Hong Kong, representing Redbridge Capital Global Opportunities 1 and Redbridge Capital Global Opportunities 2, registered with the Securities and Futures Commission of Hong Kong. The company intends to use the proceeds from the subscription for general operating funds of the group. The directors anticipate that the company will be able to create synergies with the subscriber and benefit from their financial expertise and network, in line with the company's continuing development strategy. The net proceeds from the subscription will help alleviate any operational and administrative expenses that may arise from the company's development strategy, and the issuance of convertible shares will encourage the subscriber to actively contribute to the ongoing development of the group.