Haichang Hldg (02255) announced that the company has recently entered into a non-legally binding indicative terms sheet with a certain industry fund (the fund) regarding potential financing matters. The fund intends to subscribe for the company's issued convertible bonds amounting to 0.1 billion USD, with the proceeds intended for general corporate capital expenditures and working capital, and the conversion premium rate is significantly higher than the closing price before the suspension. The potential financing matters (if the fund chooses to convert all bonds) are expected to result in the fund potentially becoming the company's major shareholder, while also introducing new directors and senior management, and establishing a significant global strategy partnership with the company, involving the company's current and future businesses.
The fund is currently an independent third party to the company, focusing on investment opportunities in the growth stage of modern services in china. Its main investors are well-known enterprises with long and rich experience in offline and online operation services, possessing abundant traffic resources, and have actively laid out in the cultural tourism sector.
The company's board of directors believes that if the proposed financing with the fund is fully completed, it will significantly enhance the company's capital, further improve the company's capital structure and governance structure, and that the strategic cooperation that both parties will undertake will fully leverage their respective cni resource index, achieving significant progress in the company's brand and marketing promotion online and offline, member service system synergy, joint expansion of cultural tourism projects, and scientific popularization research and learning, greatly aiding the upgrade and optimization of the company's strategy.
