Subscription and Placing Agency AgreementSubscription and Placing Agency Agreement • March 28th, 2023
The Issuer, the Placing Agent and the Subscriber wish to record the arrangements agreed between them in relation to an issue of HK$780,000,000 in aggregate principal amount of 3.30 per cent. perpetual convertible securities (the “Securities”, which expression shall, where the context so admits, include Securities evidenced by a global certificate (the “Global Certificate”) initially representing the Securities). Definitive Certificates, if required to be issued, will be in registered form in the denomination of HK$2,000,000 each and integral multiples thereof. The Securities will be convertible at the option of the holder thereof into fully paid ordinary shares of HK$0.50 each of the Issuer (the “Shares”) at an initial conversion price of HK$18.8 per Share pursuant to the Terms and Conditions of the Securities (the “Conditions”).