ESR IR 2021 - EN

41 ESR Interim Report 2021 Corporate Governance and Other Information The net proceeds from the Bond Issue, after deducting fees, commission and expenses payable in connection with the Bond Issue, was approximately US$345.0 million, which the Company is using for refinancing of existing borrowings, financing of potential acquisition and investment opportunities as well as the working capital requirements and the general corporate purposes of the Group. Based on the net proceeds and assuming the full conversion of the Bonds, the net price per share is approximately HK$31.67. As of 30 June 2021, the net proceeds have been fully utilized for the purposes as disclosed in the Company’s announcement dated 10 September 2020. The Directors believe that the Bond Issue will bring about a diversification of funding sources and expansion of investor base. This is the first convertible bond issue for the Company, and is in line with its capital management strategy. As of 30 June 2021, there was no conversion of convertible bonds. Details of the convertible bonds balance as of 30 June 2021 is disclosed in the unaudited condensed consolidated financial information Note 17. ISSUE FOR CASH OF EQUITY SECURITIES Save for the issue of shares pursuant to the exercise of options granted under the KM ESOP as disclosed on page 27, during the six months ended 30 June 2021, there was no other issue of equity securities (including securities convertible into equity securities) of the Company. REVIEW OF INTERIM REPORT The Audit Committee has reviewed the unaudited condensed consolidated financial information for the six months ended 30 June 2021. Ernst & Young, the Group’s external auditor, has carried out a review of the unaudited condensed consolidated financial information for the six months ended 30 June 2021 in accordance with Hong Kong Standard on Review Engagements 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity issued by the Hong Kong Institute of Certified Public Accountants.