Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited have disclaimed responsibility for the contents of Solis Holdings Limited’s announcement. According to the document, Solis Holdings Limited (the “Company”) acquired three perpetual bonds (“Bond A,” “Bond B,” and “Bond C”) on 29 January 2024, 31 July 2024, and 30 September 2024, respectively. The total considerations amounted to S$509,093, S$505,336, and S$559,688 (equivalent to approximately HK$3.0 million, HK$3.0 million, and HK$3.3 million) and were financed by the Company’s internal resources.

Bond A, issued by STT GDC Pte. Ltd., carries a 5.70% annual coupon, while Bond B, issued by ESR-REIT, carries a 6.00% annual coupon. Both have principal amounts of S$500,000. Bond C, issued by Panther Ventures Limited and guaranteed by CK Asset Holdings Limited, has a principal amount of S$750,000 at a 3.38% annual coupon. All three are perpetual bonds, each with a redemption schedule at 100% at maturity, listed on relevant exchanges, and acquired by the Company through open-market transactions involving sellers independent of Solis Holdings.

In accordance with Chapter 14 of the Listing Rules, each acquisition (aggregated with any previous acquisitions of the same bonds) exceeded the 5% threshold but fell below 25%, making each a discloseable transaction subject to reporting and announcement requirements. The Company states that it acquired the bonds to diversify its investment portfolio and generate stable returns at an acceptable risk level.

The announcement also addresses a delay in disclosure. The Company reports that responsible staff focused only on the assets ratio and did not aggregate the acquisitions within 12 months as required under the Listing Rules. This oversight caused non-compliance with the listing requirements. Remedial actions include reinforcing internal review procedures, arranging regular regulatory compliance training for management and directors, and consulting professional advisers when considering future acquisitions.

Solis Holdings Limited is principally engaged in designing, building, and installing mechanical and electrical systems. The Company reiterates that it regrets the oversight and has implemented measures to enhance compliance with the Listing Rules going forward.