Best Food seeks to extend convertible bond maturity

Best Food Holding Company Limited announced a proposed extension to the maturity date of its convertible bond held by Sonic Tycoon, a controlling shareholder. The extension, subject to independent shareholder approval, would shift the maturity date from November 23, 2025, to December 23, 2027. The bond's principal amount remains at HKD610,676,480, with an annual interest rate of 3%. The extension aims to postpone a substantial cash outflow, releasing liquidity pressure on the company. Maxa Capital has been appointed as the Independent Financial Adviser to the Independent Board Committee and the Independent Shareholders to advise on the matter.