VC Holdings (00821) plans to discount convertible bonds with a maximum principal amount of up to HK$41.4 million, representing approximately 19.30% of the total issued amount.

VC HOLDINGS (00821) announced that on July 10, 2026, the company entered into a placement agreement with the placing agent. According to the agreement, the company intends to offer for subscription, and the placing agent has agreed to use their best efforts to place and facilitate the subscription of convertible bonds. The placing agent is required to facilitate the subscription of convertible bonds by at least six (6) subscribers for a total principal amount of up to HK$41.4 million during the placement period. Assuming full exercise of the conversion rights, the company will issue and allot up to 180 million shares of convertible shares, equivalent to (i) approximately 48.51% of the total issued shares as of the date of the placement agreement; and (ii) approximately 32.66% of the total issued shares after the issuance of 180 million shares of convertible shares (assuming no change in the total issued shares from the date of the placement agreement to the date of full conversion of the convertible bonds). The initial conversion price is HK$0.23 per share, representing a discount of approximately 19.30% to (i) the closing price per share of HK$0.285 reported on the Stock Exchange on the date of the placement agreement; and (ii) a discount of approximately 22.82% to the average closing price per share of HK$0.298 reported on the Stock Exchange in the five consecutive trading days immediately preceding the date of the placement agreement. Assuming successful placement of all convertible bonds by the placing agent, the total proceeds from the placement will be up to HK$41.4 million. The company intends to use the net proceeds of approximately HK$40.22 million (after deducting commission payable to the placing agent, professional fees, and other related costs and expenses) for the following purposes: (A) approximately HK$17.42 million for general working capital, including: (i) around HK$5.82 million for the development of the brokerage and financing business division of the group; and (ii) about HK$11.6 million for the group's routine expenses, including but not limited to rental expenses, salary expenses, and other operating expenses; and (B) approximately HK$22.80 million for the repayment of the group's debts.