New Sparkle Roll International Group Limited announced a best effort basis private placement with placement agent along with 6 placees to issue convertible bonds for the gross proceeds of HKD 64,500,000 on September 19, 2023. The bonds are converted into initial Conversion Price of HKD 0.95 per Conversion Share, a maximum of 67,894,736 new Shares will be allotted and issued by the Company, representing (i) approximately 18.1% of the total number of issued Shares as at the date of this announcement; and (ii) approximately 15.4% of the total number of issued Shares as enlarged by the issue of 67,894,736 Conversion Shares. The CB Placing is not subject to the Shareholders? approval as the Conversion Shares falling to be issued upon conversion of the Convertible Bonds will be issued under the General Mandate, all necessary consents and approvals as may be obtained by the Company and the Placing Agent having been obtained for the CB Placing. Completion of the CB Placing shall take place within three (3) Business Days after the fulfilment (or waiver, if applicable) of the above conditions precedengs. The conversion period (the ?Conversion Period?) of the Convertible Bonds shall be the period commencing from the issue date of the Convertible Bond. The date falling on the third (3rd) anniversary of the issue date of the Convertible Bonds, and if that is not a Business Day, the first Business Day thereafter.

On October 10, 2023, the company announced that the CB Placing Agreement lapsed and the CB Placing will not proceed.