[ET Net News Agency, 24 May 2019] Top Standard Corporation (08510) said a placing agent
and the company have entered into a placing agreement. The placing agent conditionally
agreed to procure, on a best effort basis, the placees to subscribe for bonds in an
aggregate principal amount of up to HK$30 million during the placing period.
The interest rate is 10% per annum. The maturity date is on the second anniversary of
the issue of the relevant bonds.
The group is principally engaged in the operation of full-service restaurants under
self-owned brands in Hong Kong and Taiwan. Assuming the bonds are placed in full, the
maximum aggregate gross proceeds from the placing will be HK$30 million and the net
proceeds will be approximately HK$29.6 million. The directors intend to apply the net
proceeds as general working capital of the group and as possible investment in the future
when opportunities arise. (RC)