Guanghui Automobile (600297) announced on the evening of May 21 that the company plans to revise the conversion price of "Guanghui Convertible Bonds" downward, starting from the previousencorebostonvideopokerthe 4encorebostonvideopoker03 yuan/share is revised to 1.50 yuan/share, and the implementation date of this conversion price revision is May 23. The "Guanghui Convertible Bonds" stopped converting shares on May 22 and resumed converting shares on May 23.
According to the announcement, with the approval of the China Securities Regulatory Commission, the company publicly issued 33.7 million convertible corporate bonds on August 18, 2020, with a face value of 100 yuan each, with a total issue amount of 3.37 billion yuan, with a term of 6 years. The "Guanghui Convertible Bonds" issued by the company this time can be converted into shares of the company from February 24, 2021. The starting and ending dates of the conversion period are from February 24, 2021 to August 17, 2026. The conversion price of "Guanghui Convertible Bonds" has not been adjusted and is 4.03 yuan/share.
The announcement stated that from April 16 to May 9, 2024, the company's stock has met the closing price of at least 15 out of 30 consecutive trading days that is lower than 90% of the current conversion price of Guanghui Convertible Bonds (i.e. 3.63 yuan/share), which has triggered a downward revision of the conversion price of Guanghui Convertible Bonds. After review, the company's board of directors decided to revise the conversion price of "Guanghui Convertible Bonds" downward from 4.03 yuan/share to 1.50 yuan/share.
(Article source: China Securities Journal·China Securities Network)