Securities code: 601678 stock abbreviation: Befar Group Co.Ltd(601678) Announcement No.: 2022-008 convertible bond Code: 113034 convertible bond abbreviation: Binhua convertible bond
Announcement on redemption results and share changes of “Binhua 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: 90690
Total redemption amount: 9103280.82 yuan
Redemption payment date: January 11, 2022
Delisting date of convertible bonds: January 11, 2022
1、 Announcement of this convertible bond redemption
(I) achievement of redemption conditions
From December 1, 2021 to December 21, 2021, the closing price of the shares of Befar Group Co.Ltd(601678) (hereinafter referred to as “the company”) has been 15 trading days within 30 consecutive trading days, and the closing price is not lower than 130% of the current conversion price of 4.58 yuan / share of the company’s convertible corporate bonds (hereinafter referred to as “Binhua convertible bonds” or “convertible bonds”), i.e. 5.95 yuan / share, According to the Befar Group Co.Ltd(601678) 2019 prospectus for public issuance of convertible corporate bonds (hereinafter referred to as the prospectus), the conditional redemption terms of convertible bonds have been triggered. (II) procedure performance
The second meeting of the 5th board of directors of the company deliberated and approved the proposal on early redemption of “Binhua convertible bonds”, and decided to exercise the early redemption right of the company’s convertible bonds and redeem all the “Binhua convertible bonds” registered on the redemption registration date. See Befar Group Co.Ltd(601678) suggestive announcement on early redemption of “Binhua convertible bonds” disclosed by the company on the website of Shanghai Stock Exchange on December 22, 2021.
On December 30, 2021, the company disclosed Befar Group Co.Ltd(601678) on redemption of “Binhua convertible bonds”
And its correction announcement, and issued six suggestive announcements on the redemption of “Binhua convertible bonds” from December 31, 2021 to January 10, 2022. The relevant redemption matters are as follows:
1. Redemption registration date and redemption object
Redemption registration date: January 10, 2022
Redemption object: all holders of “Binhua 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 January 10, 2022.
2. Redemption price
According to the agreement on early redemption in the company’s prospectus, the redemption price is 100.378 yuan / piece (bond face value and current accrued interest).
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 bonds to be redeemed held by the holders of convertible bonds issued this time;
i: Refers to the coupon rate of convertible 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).
Among them, the coupon rate of the current interest year (April 10, 2021 to April 9, 2022) is 0.50%; Interest accrual days: 276 days from April 10, 2021 to this redemption date and January 11, 2022 (counting the beginning but not the end).
The current accrued interest of each bond is ia = 100 × 0.50% × 276 / 365 = 0.378 yuan.
Redemption price = face value + current accrued interest = 100 + 0.378 = 100.378 yuan / piece.
3. Redemption payment date: January 11, 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 (January 10, 2022), the balance of “Binhua convertible bonds” was RMB 9069000, accounting for 0.38% of the total issued amount of “Binhua convertible bonds” of RMB 240 million.
(II) share conversion
From October 16, 2020 to the closing of the redemption registration date (January 10, 2022), a total of 2390931000 yuan of “Binhua convertible bonds” has been converted into company shares, accounting for 99.62% of the total issuance of “Binhua convertible bonds”; The cumulative number of shares converted was 5136276, accounting for 33.26% of the total issued shares of the company before the conversion of “Binhua convertible bonds”. The specific changes are as follows:
Unit: shares
Before the change (after the change in October 2020 (January 2022), the convertible bonds are converted into shares
May 15 (May 10)
Tradable shares with limited sales conditions 0
Tradable shares without sale conditions 1544400000 513636276 2058036276
Total share capital 1544400000 513636276 2058036276
From January 1, 2022 to the date of redemption registration (January 10, 2022), a total of 262024000 yuan of “Binhua convertible bonds” has been converted into company shares, accounting for 10.92% of the total issued amount of “Binhua convertible bonds”; The cumulative number of shares converted was 57209459, accounting for 3.70% of the total issued shares of the company before the conversion of “Binhua convertible bonds”. The specific changes are as follows:
Unit: shares
Before the change (after the change in December 2021 (after the change in January 2022), the convertible bonds are converted into shares
(31) 10)
Tradable shares with limited sales conditions 0
Tradable shares without sale conditions 2000826817 57209459 2058036276
Total share capital 2000826817 57209459 2058036276
(III) suspension of trading and conversion of convertible bonds
From January 11, 2022, “Binhua convertible bonds” will stop trading and share conversion, and all the 9069000 yuan “Binhua convertible bonds” that have not been converted into shares will be frozen.
(IV) redemption amount
According to the data provided by zhongdeng Shanghai Branch, the number of convertible bonds redeemed by the company this time is 90690, the total amount redeemed and cashed is 9103280.82 yuan, and the redemption payment date is January 11, 2022.
(V) impact of this redemption on the company
The total redemption amount of convertible bonds is 9103280.82 yuan, which will not have a significant impact on the company’s cash flow. After the conversion of “Binhua convertible bonds” into shares, the total share capital of the company increased to 2058036276 shares, which increased the capital strength of the company and improved the anti risk ability of the company. At the same time, due to the increase of share capital, the earnings per share of the company will be diluted in the short term.
3、 Subsequent events of this convertible bond redemption
From January 11, 2022, “Binhua convertible bonds” (securities code: 113034) will be delisted in Shanghai Stock Exchange.
It is hereby announced.
Befar Group Co.Ltd(601678) board of directors January 11, 2022
