DreamEast OKs price, maturity, interest amendments to convertibles

By Cady Vishniac

Detroit, Oct. 28 – DreamEast Group Ltd. informed the Hong Kong Stock Exchange Wednesday that the company and controlling shareholder SkyOcean Investment approved the adjustment of the bond conversion price to HK$2 per share from HK$6.80, the extension of the maturity date to Dec. 23, 2025 from Dec. 23, 2020 and a change in interest rate to 5% per annum.

The deed of amendment is subject to approval by the listing committee, the stock exchange and DreamEast’s independent shareholders. DreamEast will convene the special general meeting. SkyOcean and its associates will abstain from voting.

SkyOcean holds 205,182,287 shares of the convertibles, representing approximately 71.87% of the issued share capital of the company. DreamEast issued the convertible bonds to SkyOcean as consideration to acquire the entire issued share capital of Fusion Link.

Hong Kong-based DreamEast provides healthcare, investment and real estate development services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.