Wuzhou International Holdings Limited (SEHK:1369) announced that it has entered into subscription agreements of 2% convertible note for a private placement of HKD 2,000,000 on August 29, 2018. The bonds have a coupon of 2% per annum and will mature on the 24 months from the date of closing. The bonds are convertible into 4,990,259,914 common shares at HKD 0.048 per share. The transaction has been approved by the board of directors of the company. On June 16, 2020, the company announced that if the conditions precedent are not fulfilled on or before 30 June 2019 or such other date as may be agreed between the company and the subscriber, the transaction will be cancelled.