FU JI Food & Catering Services Holdings Ltd. announced a private placement of 135,135,135 non-redeemable convertible preference shares at HKD 0.74 per share for gross proceeds of HKD 100,000,000 on January 18, 2013. The shares do not carry any fixed cumulative dividend and shall convert into new shares at any time after six months from the date of issuance. The shares will be issued to Marvel Light Holdings Limited.

The transaction is expected to close by May 21, 2013.