Great Wisdom announced on October 10th that Silkwave Inc (00471.HK) stated that, according to the terms and conditions of the convertible bonds, the conversion price needs to be adjusted due to the share consolidation. The conversion price of the convertible bonds will be adjusted after the share consolidation takes effect.

Hereby announce that, according to the terms and conditions of the convertible bonds, the conversion price will be adjusted due to the share consolidation. The conversion price (currently 0.35 Hong Kong dollars per existing share) will be adjusted to 7.00 Hong Kong dollars per consolidated share, effective from October 10, 2024. Referring to the total outstanding principal amount of $12,000,000 USD on the convertible bonds as of the announcement date, after converting all unexercised convertible bonds at the previous and adjusted conversion prices, the maximum number of shares to be issued will be 266,742,857 existing shares and 13,337,142 consolidated shares.

In addition to the above adjustments, all other terms and conditions of the unconverted convertible bonds remain unchanged.