Silverman Holdings (01616) announced that, on October 3, 2016, the Company entered into a subscription agreement withCCB International Overseas Limited, Mr. Liu Dong, Mr. Liu Zhihua andExcel Orient Limited. Now therefore, the Company conditionally agrees to issue and CCB International Overseas Limited conditionally agrees to subscribe for the convertible bonds in an aggregate principal amount of HK$200,000,000. 

According to the announcement, the bonds carry the rights to convert into conversion shares at the conversion price of HK$1.21 per conversion share. Assuming that the conversion rights are exercised in full, 165 million conversion shares will fall to be issued to the bondholder, representing approximately 15.81% of the issued capital of the Company and 13.65% of the issued capital as enlarged.