Financing ·
Padachi M Venture purchases $2.5M in senior unsecured convertible bonds from Dumaine
FMFCKandal M Venture Ltd
Kandal M Venture Limited terminated a prior agreement to acquire 15% of Dumaine and entered into a convertible bond purchase agreement with Dumaine on September 25, 2026. Padachi M Venture Limited, the registrant's wholly-owned subsidiary, purchased $2.5 million in senior unsecured convertible bonds from Dumaine. The bonds bear interest at 6% per annum, payable semi-annually, and mature five years after issuance. This transaction constitutes a related party matter approved by the board of directors. Kandal M Venture Limited operates as an investment holding company with subsidiaries engaged in luxury handbag manufacturing.