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China Resources and Transportation Group Ltd Announces Issue Of 9% Convertible Bonds Due 2016


Wednesday, 11 Sep 2013 05:35am EDT 

China Resources and Transportation Group Ltd announced that CB Subscriber and the Company has entered into the CB agreement pursuant to which the CB Subscriber has conditionally agreed to subscribe for the 2016 Convertible Bonds with the principal amount of HKD1.500 billion. Assuming full conversion of the 2016 Convertible Bonds at the conversion price of HKD0.37 per conversion share, the 2016 convertible bonds will be convertible into 4,054,054,054 new Shares. The conversion shares represent approximately 14.42% of the existing issued share capital of the Company and approximately 12.61% of the issued share capital of the Company as enlarged by the issue of the Conversion Shares. The estimated net proceeds from the issue of the 2016 Convertible Bonds would be approximately HKD1.499 billion. The Company intends to apply the net proceeds from the issue of the 2016 Convertible Bonds as general working capital of the Group and for funding the Capital Increase. 

Company Quote

0.201
0.0040 +2.03%
31 Oct 2014