Securities code: Trina Solar Co.Ltd(688599) securities abbreviation: Trina Solar Co.Ltd(688599) Announcement No.: 2022046 Trina Solar Co.Ltd(688599)
Announcement on redemption results and share changes of “Trina Solar 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 legal responsibility for the authenticity, accuracy and integrity of its contents according to law. Important content tips:
Redemption quantity: 5217750 sheets (the balance in the book after the closing of the market on the redemption registration date is 521775000 yuan)
Total redemption amount: 52284469093 yuan (including current interest)
Redemption registration date: April 12, 2022
Redemption price: 100200 yuan / piece
Redemption payment date: April 13, 2022
Delisting date of convertible bonds: April 13, 2022
1、 Announcement of this convertible bond redemption
(I) achievement of redemption conditions
Trina Solar Co.Ltd(688599) (hereinafter referred to as “the company”) shares meet the closing price for 15 consecutive trading days from February 24, 2022 to March 16, 2022, which is not lower than 130% (including 130%) of the current conversion price of 50.40 yuan / share, i.e. 65.52 yuan / share. According to the relevant provisions of the conditional redemption clauses in the prospectus of Trina Solar Co.Ltd(688599) issuing convertible corporate bonds to unspecified objects (hereinafter referred to as the prospectus), the early redemption conditions of “Trina convertible bonds” have been triggered.
(II) procedure performance
The company held the 16th meeting of the second board of directors on March 16, 2022. The meeting deliberated and passed the proposal on the company’s early redemption of “Trina Solar convertible bonds”, and decided to exercise the early redemption right of the company’s convertible bonds and redeem all the “Trina Solar convertible bonds” registered on the “redemption registration date”. For details, please refer to Trina Solar Co.Ltd(688599) notice on early redemption of “Trina convertible bonds” (Announcement No.: 2022026) disclosed by the company on March 17, 2022.
The company disclosed the announcement of Trina Solar Co.Ltd(688599) on the redemption and delisting of “Trina Solar convertible bonds” (Announcement No.: 2022029) on March 25, 2022, and issued 12 suggestive announcements on the redemption of “Trina Solar convertible bonds” from March 26, 2022 to April 12, 2022. The relevant redemption matters are as follows:
1. Redemption registration date and redemption object
The redemption object is all the holders of “Trina 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 April 12, 2022.
2. Redemption price
According to the terms and conditions of the redemption, the accrued interest of the convertible bonds is 200.00 yuan, i.e. the face value of the convertible bonds in the redemption term is 200.00 yuan.
The calculation formula of current accrued interest is: ia = B \uf0cd I \uf0cd 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: Refers to the number of interest days, that is, the actual calendar days from the last interest payment date to the redemption date of this interest year (the beginning does not count the end).
The coupon rate of the current interest year (August 13, 2021 to August 12, 2022) is 0.30%. Interest days: 243 days from the value date August 13, 2021 to April 13, 2022 (counting the beginning but not the end).
Current accrued interest of each “Trina Solar convertible bond” ia = B \uf0cd I \uf0cd T / 365 = 100 \uf0cd 0.30% \uf0cd 243 / 365 = 0.200 yuan / piece
Redemption price = face value + current accrued interest = 100 + 0.200 = 100200 yuan / piece
3. Redemption payment date: April 13, 2022
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 (April 12, 2022), the balance of “Trina convertible bonds” was RMB 521775000 (5217750), accounting for 9.93% of the total issued amount of “Trina convertible bonds” of RMB 5.252 billion.
(II) share conversion
As of the closing of the market on the redemption registration date (April 12, 2022), a total of 473025000 yuan of “Trina convertible bonds” have been converted into company shares, accounting for 90.07% of the total issued amount of “Trina convertible bonds”; The cumulative number of shares converted was 93851727, accounting for 4.53% of the total number of shares issued by the company before the conversion of “Trina Solar convertible bonds”. (III) changes in share capital
The changes in the company’s share capital caused by the conversion of convertible bonds into shares are as follows:
Unit: shares
Before and after change
Class of shares: convertible bonds to shares
(February 20, 2022) (April 12, 2022)
Tradable shares with limited sales conditions 8536493030849615322
——Before IPO
845066,522 0 845066,522
Shares – strategic investor placement
8,514900 0 4,548800
Shares / shares – unlisted
67,881 0 0
Tradable shares (non dividend)
Tradable shares without restrictions 1220086385938517271317972093
Total share capital 2073735688938517272167587415
Note 1: 67881 tradable shares (non stock offering class) that have not yet been listed and circulated are the shares that the company completed the registration procedures for the second vesting of the first vesting period of part of the restricted stock incentive plan in 2020 on February 17, 2022. The listing and circulation time of the vested shares is February 23, 2022. For details, see the company’s website of Shanghai Stock Exchange on February 19, 2022 (www.sse. Com. CN.) The announcement of Trina Solar Co.Ltd(688599) on the second vesting result and share listing in the first vesting period of the first vesting of the restricted stock incentive plan in 2020 (Announcement No.: 2022018) disclosed.
Note 2: the difference in the calculation of tradable shares with restricted sales conditions and tradable shares with unlimited sales conditions in the table is caused by the strategic investors lending part of the tradable shares with restricted sales conditions through refinancing. Therefore, there is a situation that 3966100 tradable shares with restricted sales conditions are converted into tradable shares with unlimited sales conditions.
(IV) suspension of trading and conversion of convertible bonds
From April 13, 2022, “Trina convertible bonds” will stop trading and share conversion, and all the 521775000 yuan “Trina convertible bonds” that have not been converted into shares will be frozen.
(V) redemption amount
According to the data provided by zhongdeng Shanghai Branch, the number of convertible bonds redeemed by the company this time is 5217750, the total amount redeemed and cashed is RMB 52284469093 (including current interest), and the redemption payment date is April 13, 2022.
(VI) impact of this redemption on the company
The total redemption amount of “Trina convertible bonds” is 52284469093 yuan, which will not have a significant impact on the company’s financial status and cash flow. After the redemption of the “Trina Solar convertible bonds”, the total share capital of the company will be increased to 2167587415 shares. Due to the increase of the share capital of the company, the earnings per share of the company will be diluted in the short term.
3、 Subsequent events of this convertible bond redemption
Since April 13, 2022, “Trina Solar convertible bonds” (convertible bond Code: 118002) has been delisted in Shanghai Stock Exchange.
It is hereby announced.
Trina Solar Co.Ltd(688599) board of directors April 14, 2022
