Core Viewpoint - The company has triggered the conditional redemption of its convertible bonds due to the stock price meeting specific criteria, leading to a mandatory redemption at a price of 100.36 CNY per bond on August 8, 2025 [1][2][7]. Group 1: Convertible Bond Redemption - The company announced that investors can still convert their bonds until the market close on August 7, 2025, after which unconverted bonds will be forcibly redeemed [1][2]. - The conditional redemption was triggered as the stock price met the requirement of being at least 130% of the conversion price (11.52 CNY) for at least 15 out of 30 trading days [2][7]. - The redemption price is set at 100.36 CNY per bond, which includes accrued interest calculated based on the bond's face value and interest rate [1][8]. Group 2: Bond Issuance and Terms - The company issued convertible bonds worth 614.03 million CNY on March 31, 2023, with a conversion period from October 9, 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 unconverted balance falls below 30 million CNY or if the stock price conditions are met [6][7]. Group 3: Redemption Process and Investor Guidance - The redemption process will involve notifying bondholders and ensuring that the redemption amount is transferred to their accounts through the bond custodians [8][9]. - Investors are advised to convert their bonds before the deadline to avoid forced redemption, which could lead to potential losses [1][2].
志特新材: 关于“志特转债”赎回实施暨即将停止转股的重要提示性公告