Star Group Asia (HKEX: 01560) has announced the issuance of 8 million new shares in response to a conversion request from bondholders regarding the 3% perpetual convertible bonds with a principal amount of HK$40 million issued on October 22, 2020.

This issuance follows the bondholders' exercise of their conversion rights under the terms of the perpetual convertible bonds.

The new shares are being issued to satisfy the conversion request as stipulated in the bond agreement.