New Momentum International Limited - Exchange Offer - Launch

NEW MOMENTUM INTERNATIONAL LIMITED - EXCHANGE OFFER FOR THE MINIMUM ACCEPTANCE AMOUNT OF THE OUTSTANDING 8.50 PER CENT.GUARANTEED BONDS DUE 2023 (ISIN: XS2358337868; COMMON CODE: 235833786)

14 JUNE 2023

Full announcement including disclaimers and offer restrictions available via HKEX (Source: New Momentum Intl. Ltd.)

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"Introduction

On the date of this announcement, the Issuer and the Guarantor commenced the offer to exchange (the “Exchange Offer”) at least US$79,200,000, or 90 per cent. of the outstanding principal amount of the Existing Bonds (the “Minimum Acceptance Amount”) held by Eligible Holders upon the terms and subject to the conditions set forth in the exchange offer memorandum dated 14 June 2023 (the “Exchange Offer Memorandum”).

The Exchange Offer will expire at 4:00 p.m., London time on 21 June 2023 unless extended or earlier terminated at the sole discretion of the Issuer and the Guarantor (such date and time, as the same may be extended, the “Expiration Deadline”). An appropriate announcement will be made if and when the applicable deadline is extended or earlier terminated."

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"Purpose of the Exchange Offer

The purpose of the Exchange Offer is to improve the Group’s liquidity position and extend maturity of the Existing Bonds. The Exchange Offer is conducted as part of the Group’s broader strategy to improve the overall financial condition of the Group, extend its debt maturity profile, strengthen its balance sheet and improve cash flow management. The Issuer and the Guarantor expressly reserve their absolute right, at their sole discretion, from time to time redeem or purchase any Existing Bonds that remain outstanding after the consummation or termination of the Exchange Offer through open market or privately negotiated transactions, one or more tender offers or additional exchange offers or otherwise, on terms that may differ from the Exchange Offer and could be for cash or other consideration."

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