Securities code: 603578 securities abbreviation: Zhejiang Three Stars New Materials Co.Ltd(603578) Announcement No.: pro 2022-001 Zhejiang Three Stars New Materials Co.Ltd(603578)
Announcement on redemption results and share changes of “Samsung convertible bonds”
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Important content tips:
Redemption quantity: 17970 sheets (the balance in the book after the closing of the market on the redemption registration date is 1797000 yuan)
Total redemption amount: 1807530.42 yuan (including current interest)
Redemption payment date: December 31, 2021
Delisting date of convertible bonds: December 31, 2021
1、 Announcement of this convertible bond redemption
(i) Achievement of redemption conditions
During the period from November 19, 2021 to December 13, 2021, the closing price of Zhejiang Three Stars New Materials Co.Ltd(603578) (hereinafter referred to as “the company” or ” Zhejiang Three Stars New Materials Co.Ltd(603578) “) shares meets the requirement that the closing price of at least 15 trading days in 30 consecutive trading days is not less than 130% (i.e. 17.89 yuan / share) of the current conversion price of “Samsung convertible bonds”, According to the Zhejiang Three Stars New Materials Co.Ltd(603578) prospectus for public issuance of convertible corporate bonds (hereinafter referred to as the “prospectus”), the conditional redemption terms of “Samsung convertible bonds” have been triggered.
（2） Procedure performance
The company held the 5th meeting of the 4th board of directors on December 13, 2021, which deliberated and passed the proposal on early redemption of “Samsung convertible bonds”, and decided to exercise the early redemption right of the company’s convertible bonds and redeem all the “Samsung convertible bonds” registered on the “redemption registration date”. See Zhejiang Three Stars New Materials Co.Ltd(603578) suggestive announcement on early redemption of “Samsung convertible bonds” (Announcement No.: p.2021-101) disclosed by the company on the website of Shanghai Stock Exchange and designated media on December 14, 2021.
On December 22, 2021, the company disclosed the announcement of Zhejiang Three Stars New Materials Co.Ltd(603578) on the implementation of redemption and delisting of “Samsung convertible bonds” (Announcement No.: pro 2021-104), which were published on December 23, 2021, December 24, 2021, December 27, 2021, December 28, 2021, December 29, 2021 On December 30, 2021, six suggestive announcements on the redemption of “Samsung convertible bonds” (Announcement No.: pro 2021-106, pro 2021-108, pro 2021-109, pro 2021-114, pro 2021-115 and pro 2021-119) were disclosed. The relevant redemption matters are as follows:
1. Redemption registration date and redemption object
The registration date of this redemption is December 30, 2021. The objects of this redemption are all the holders of “Samsung convertible bonds” registered in China Securities Depository and Clearing Co., Ltd. Shanghai Branch (hereinafter referred to as “zhongdeng Shanghai Branch”) after the closing of the market on December 30, 2021.
2. Redemption price
According to the provisions on conditional redemption in the prospectus, the redemption price is the face value of convertible bonds plus accrued interest in the current period, i.e. 100.586 yuan / piece.
The calculation formula of current accrued interest is: ia = B × i × t/365
Ia: interest accrued in the current period;
B: Refers to the total face value of convertible corporate bonds held by the holders of convertible corporate bonds issued this time; i: Refers to the coupon rate of convertible corporate bonds in the current year;
t: It refers to the interest bearing days, that is, the actual calendar days from the last interest payment date to the redemption date of this interest bearing year (the beginning does not count the end).
The coupon rate of the current interest year (May 31, 2021 to May 30, 2022) is 1%.
Interest days: 214 days in total from the value date May 31, 2021 to December 31, 2021 (counting the beginning but not the end).
Current accrued interest of each “Samsung convertible bond” ia = b × i × t/365=100 × 1% × 214 / 365 = 0.586 yuan / piece
Redemption price = face value + current accrued interest = 100 + 0.586 = 100.586 yuan / piece
3. Redemption payment date: December 31, 2021
2、 The results of the redemption of convertible bonds and the impact of the redemption on the company
(i) Redemption balance
As of the closing of the redemption registration date (December 30, 2021), the balance of “Samsung convertible bonds” was RMB 1797000, accounting for 0.9381% of the total issued amount of “Samsung convertible bonds” of RMB 191565000
（2） Share conversion
As of the closing of the redemption registration date (December 30, 2021), a total of 189768000 yuan of “Samsung convertible bonds” has been converted into shares of the company, accounting for 99.0619% of the total issuance of “Samsung convertible bonds”. The cumulative number of shares formed by share conversion is 12870290, accounting for the total number of shares issued by the company before the conversion of “Samsung convertible bonds”
(89550000 shares). Among them, the changes in the company’s share capital structure from December 29 to December 30, 2021 are as follows:
Unit: shares
Before the change of share category and after the change of convertible bonds into shares
(December 29, 2021) (December 30, 2021)
Tradable shares with limited sales conditions 0-0
Tradable shares without sale conditions 1365495352526977139076512
Total share capital 1365495352526977139076512
（3） Cessation of trading and conversion of convertible bonds
From December 31, 2021, “Samsung convertible bonds” will stop trading and conversion, and all the 1797000 yuan “Samsung convertible bonds” that have not been converted will be frozen.
（4） Redemption amount
According to the data provided by zhongdeng Shanghai Branch, the number of convertible bonds redeemed by the company this time is 17970, the total amount redeemed and cashed is RMB 1807530.42 (including current interest), and the redemption payment date is December 31, 2021.
（5） Impact of this redemption on the company
The total redemption amount of “Samsung convertible bonds” is RMB 1807530.42, which will not have a significant impact on the company’s cash flow. After the redemption of the “Samsung convertible bonds”, the total share capital of the company was increased to 139076512 shares, which enhanced the capital strength and anti risk ability of the company. At the same time, due to the increase of total share capital, the earnings per share of the company will be diluted in the short term.
3、 Subsequent events of this convertible bond redemption.
Since December 31, 2021, the company’s “Samsung convertible bonds” (securities code: 113536) have been delisted in Shanghai Stock Exchange
It is hereby announced.
Zhejiang Three Stars New Materials Co.Ltd(603578) board of directors January 4, 2022
