TIBET WATER (01115) announced that on September 17, 2025, the company entered into a placement agreement with a placing agent to place up to HK$297 million in convertible bonds through the placing agent. The preliminary conversion price is HK$0.55, representing a premium of approximately 1.85% over the closing price of HK$0.54 per share on the Stock Exchange on the last trading day. The bonds carry an annual interest rate of 5%. The net proceeds are intended to be used for refinancing existing bonds and general working capital. Assuming full placement of the bonds and full conversion at the preliminary conversion price of HK$0.55, the bonds will be convertible into 540 million shares, representing approximately 11.49% of the company's existing issued share capital and approximately 10.30% of the company's enlarged issued share capital after the issue of conversion shares.