Bond Issuance Deal Expires Unfulfilled

China Innovation Investment Limited (HK:1217) has released an update.

China Innovation Investment Limited and Allure Fem Holdings Limited have announced the lapse of their subscription agreement for the issuance of three-year secured ordinary bonds worth HK$40 million at a 5% coupon rate, originally detailed on January 26, 2024. The agreement has automatically expired on March 31, 2024, as the conditions precedent were not fulfilled and no further extension to the long stop date was agreed upon. The boards of both companies have informed shareholders that no claims can be made by either party, except for any antecedent breaches.

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