EASYKNIT INT'L (01218) Subsidiary Plans to Sell 33.75% of Outstanding Principal Amount of 2023 Convertible Notes for HK$27 Million

Stock News
09/05

EASYKNIT INT'L (01218) announced that on September 5, 2025, the seller (an indirect wholly-owned subsidiary of the company) entered into an agreement with the buyer regarding the disposal transaction. Under the agreement, the seller agrees to sell 33.75% of the outstanding principal amount of the 2023 convertible notes to the buyer, while the buyer agrees to purchase 33.75% of the outstanding principal amount of the 2023 convertible notes for a total consideration of HK$27 million, representing a premium of HK$3.375 million. Given the current economic uncertainties, the directors believe it is beneficial to adopt a prudent investment strategy to realize its investments in financial assets to enhance the group's liquidity position. The group intends to use the proceeds from the disposal as general working capital, to pay administrative expenses, and to repay bank loan principal and interest expenses.

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