Brockman Mining Limited (SEHK:159) announced a private placement of convertible bond for gross proceeds of HKD 78,000,000 with returning investor Ocean Line Holdings Limited on November 2, 2012. The convertible bond subscription is conditional upon, among other things, independent shareholders' approval and the stock exchange granting listing of and permission to deal in the conversion shares. The convertible bond is convertible into shares at HKD 0.41 per share, carry 5% interest rate, and will mature on third anniversary of the issue date. In the event, the investor chooses to convert the bond in whole, the company will issue 190,243,902 common shares which will represent 2.50% of the enlarged share capital of the company.

On January 8, 2013, the company received approval for the transaction at the shareholders' meeting.

On January 9, 2013, Brockman Mining Limited closed the transaction. The company issued 190,243,902 shares upon conversion of the bond.