Meidong auto (01268) announced that, in accordance with Rule 37.48(a) of the Listing Rules of the Hong Kong Stock Exchange, the issuer and the company jointly announced that, as of the date of this announcement, the company has repurchased and conditionally cancelled (or will be cancelled as soon as possible) bonds with a total principal amount of HKD 807 million, accounting for approximately 29.35% of the initial bond principal amount (bonds repurchased). The repurchased bonds carry the right to convert into 18.03 million shares (rounded down to the nearest whole number of shares) of exchangeable shares (calculated based on the existing exchange price per share of HKD 44.7582 as of this announcement date). The Board of Directors believes that the purchase of the repurchased bonds will not have a significant adverse effect on the financial situation of the company.
As of the date of this announcement, taking into account bonds with a total principal amount of HKD 10 million that have been converted into shares before the date of this announcement, the total outstanding principal amount of unpaid bonds is HKD 1.933 billion (unpaid bonds), accounting for approximately 70.29% of the initial bond principal amount. The company will convert all unpaid bonds at the existing adjusted exchange price of HKD 44.7582 per share (which may be adjusted), and the maximum number of exchangeable shares to be issued after the conversion of all unpaid bonds is 43.1876 million shares (rounded down to the nearest whole number of shares), equivalent to approximately 3.21% of the total issued shares as of the date of this announcement, assuming that there is no exercise of exchange rights, repurchase or redemption of bonds during the relevant period.