According to the announcement from KERRY LOG NET (00636), the company has issued convertible securities to the seller with a total principal amount of 0.78 billion Hong Kong dollars. As disclosed in the circular dated April 24, 2023, the issuance of convertible securities provides additional funds to expand the international express business in Southeast Asia, particularly supporting the company's former indirect subsidiary KEX Thailand. Upon completion of the issuance of convertible securities, the net proceeds of approximately 0.774 billion Hong Kong dollars will be fully loaned to KEX Thailand to support its growth and expansion. In March 2024, the company will distribute all shares held in KEX Thailand in kind, and KEX Thailand will no longer be a subsidiary of the group. Therefore, the company intends to recover the loan, repurchase, and cancel the convertible securities.

On December 10, 2024, the company entered into a purchase agreement with the seller (S.F. Holding (Hong Kong) Limited). According to the terms and conditions of the purchase agreement, the company conditionally agrees to purchase, and the seller conditionally agrees to sell the convertible securities for a price of 0.7445 billion Hong Kong dollars in Cash.