Refrigeration Electrical Engineering Corporation (REE) signed a convertible bond subscription agreement with Platinum Victory Pte. Ltd., a subsidiary of Cycle & Carriage Limited (JC&C) – a Singapore’s leading listed company and a member of Jardine Matheson Group.

- After receiving the approval from authorities, REE will issue VND557,846,000,000 convertible bonds to Platinum Victory Pte. Ltd. in order to raise funds for REE’s projects.

- The bond issue will be executed with main contents as follows:

+ Issuer: Refrigeration Electrical Engineering Corporation (REE)

+ Bond type: convertible bond

+ Currency unit: VND

+ Total par value of bonds: VND557,846,000,000

+ Bond interest: 6%/year

+ Bond term: 03 years

- After each year, bonds will be automatically converted into shares when the foreign room for REE stock is available.

- Conversion price: VND22,000/share