China Carbon Neutral Development Group Limited (Stock code: 1372) announced an extension of the long stop date for its proposed issue of convertible bonds under a specific mandate. The cutoff is now set for 31 December 2025, instead of the previous 31 October 2025, to allow additional time for fulfilling the conditions precedent to the relevant subscription agreements. All other terms and conditions remain unchanged.

According to the announcement, the proposed issue of convertible bonds is intended to settle indebtedness stemming from loans obtained between January 2023 and August 2024. The Subscribers, Green Assets and Green Securities, acquired debts from the original creditors between 2 January 2025 and 30 April 2025, amounting to approximately HK$47.5 million and HK$29.8 million, respectively. Part of the indebtedness involved connected persons of the company, thereby rendering the Subscribers connected persons under Chapter 14A of the Listing Rules.

As a result, the issuance of the convertible bonds constitutes a connected transaction and is subject to reporting, announcement, circular, independent financial advice, and independent shareholders’ approval requirements. An independent board committee has been formed, and Veda Capital Limited has been appointed as the independent financial advisor. A circular with further details, along with a notice of the extraordinary general meeting, is expected to be dispatched on or before 10 December 2025. Completion of the subscription agreements will depend on whether all conditions precedent are satisfied or waived. The company advises shareholders and potential investors to exercise caution when dealing in its shares and other securities.