Gelonghui, Feb. 22 | Pan Asia Environmental Protection (00556.HK) announcement relating to the subscription of compensation shares under a general mandate for debt capitalization; the completion of the second batch of debt capitalization agreements was completed on February 22, 2024. A total of 61,320,755 shares have been issued and distributed to the subscribers as the second batch of compensation shares at the issue price of HK$0.212 per share to capitalize the HK$13 million debt. Issuing consideration shares will not generate any income because all proceeds from the subscription will offset the company's debt to the subscriber on an equal basis.