Key Points - The company announced that the "Z Special Convertible Bond" will stop trading after the market closes on August 4, 2025, and will be forcibly redeemed at a price of 100.36 CNY per bond after the market closes on August 7, 2025, for those not converted into shares [1][2] - The bondholders are advised to convert their bonds into shares within the remaining five trading days to avoid forced redemption [1][2] - The company’s stock price has met the condition for early redemption of the convertible bonds, as it has been above 130% of the conversion price (11.52 CNY) for at least 15 out of 30 trading days from June 19 to July 9, 2025 [2][7] - The total amount of convertible bonds issued was 614.03 million CNY, with a conversion period from April 7, 2023, to March 30, 2029 [2][3] - The initial conversion price was set at 41.08 CNY per share, which has been adjusted to 8.86 CNY per share as of the announcement date [3][4] - The company has the right to redeem the bonds if the remaining unconverted bonds are less than 30 million CNY or if the stock price conditions are met [6][7] - The redemption price includes accrued interest calculated based on a 1% annual interest rate for 130 days, resulting in a total redemption price of approximately 100.36 CNY per bond [8][9] - The redemption process will be completed after the announcement, and the bonds will be delisted from the Shenzhen Stock Exchange [9][10] - The company’s major shareholders and executives have not traded the convertible bonds in the six months leading up to the redemption condition being met [9]
志特新材: 关于“志特转债”赎回实施暨即将停止交易的重要提示性公告