TRUE PARTNER (08657) has disclosed that on January 28, 2026, following the trading session, the company entered into a bond subscription agreement with the subscriber, True Partner International Limited. Under this agreement, the subscriber has conditionally consented to subscribe for, and the company has conditionally agreed to issue, convertible bonds with a principal amount of $2.45 million, which is approximately equivalent to HK$19.07 million.

Should the convertible bonds be fully converted at the initial conversion price of HK$0.10 per share, the company would allocate and issue up to 191 million conversion shares. This issuance would represent approximately 45.45% of the company's issued share capital as of the announcement date, excluding treasury shares, and about 31.25% of the issued share capital as enlarged by the allocation and issuance of the conversion shares, assuming no change in the issued share capital from the announcement date until the full conversion of the bonds.

In accordance with the terms stipulated in the bond subscription agreement, the convertible bonds are eligible for full conversion into conversion shares at the discretion of the subscriber at any time during the conversion period, or on the maturity date of the bonds. It is explicitly stated that under no circumstances will the convertible bonds be redeemable in cash.