Stock Code: Jiangsu Eastern Shenghong Co.Ltd(000301) stock abbreviation: Jiangsu Eastern Shenghong Co.Ltd(000301) Announcement No.: 2022084 bond Code: 127030 bond abbreviation: Shenghong convertible bond
Bond Code: 114578 bond abbreviation: 19 Shenghong G1
Jiangsu Eastern Shenghong Co.Ltd(000301)
Announcement on the price adjustment of convertible corporate bonds
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Special tips:
1. Bond Code: 127030, bond abbreviation: Shenghong convertible bond
2. Conversion price before adjustment: 13.53 yuan / share
3. Adjusted conversion price: 13.38 yuan / share
4. Effective date of this share conversion price adjustment: May 27, 2022
1、 Basic information of convertible bonds
With the approval of the reply on approving Jiangsu Eastern Shenghong Co.Ltd(000301) public issuance of convertible corporate bonds (zjxk [2021] No. 512) by the China Securities Regulatory Commission (hereinafter referred to as the “CSRC”), Jiangsu Eastern Shenghong Co.Ltd(000301) (hereinafter referred to as the “company”) issued 50 million convertible corporate bonds (hereinafter referred to as “convertible bonds”) on March 22, 2021, with a face value of 100 yuan each, a total issuance amount of 500 million yuan and a term of 6 years. With the consent of Shenzhen Stock Exchange, this convertible bond has been listed and traded in Shenzhen Stock Exchange since April 21, 2021. The bond is referred to as “Shenghong convertible bond” for short and the bond code is “127030”.
2、 Basis for price adjustment of convertible bonds to shares
According to the prospectus for Jiangsu Eastern Shenghong Co.Ltd(000301) public offering of A-share convertible corporate bonds (hereinafter referred to as the “prospectus”), after this issuance, when the company distributes stock dividends, converts to share capital, issues additional new shares (excluding the increased share capital due to the conversion of convertible corporate bonds), allots shares and distributes cash dividends, The conversion price shall be adjusted accordingly (two decimal places shall be reserved and the last one shall be rounded). The specific adjustment formula of share conversion price is as follows:
Share offering or conversion to share capital: P1 = P0 ÷ (1 + n);
Additional shares or allotment: P1 = (P0 + a) × k）÷（1+k）；
The above two items shall be carried out simultaneously: P1 = (P0 + a) × k）÷（1+n+k）；
Distribution of cash dividends: P1 = P0 － D;
The above three items shall be carried out simultaneously: P1 = (p0-d + a) × k）÷（1+n+k）。
Where: P1 is the adjusted conversion price, P0 is the conversion price before the adjustment, n is the share delivery rate or conversion to increased share capital rate, a is the new share price or allotment price, K is the rate of new shares or allotment rate, and D is the cash dividend per share. When the above shares and / or shareholders’ equity changes occur, the company will adjust the conversion price in turn, publish an announcement on the website of Shenzhen Stock Exchange and the information disclosure media of listed companies designated by China Securities Regulatory Commission, and specify the date of conversion price adjustment, adjustment measures and suspension period of conversion (if necessary). When the adjustment date of the conversion price is on or after the application date for conversion of convertible corporate bonds issued this time and before the registration date of conversion of shares, the application of the holder for conversion of shares shall be executed according to the adjusted conversion price of the company. When the company may have share repurchase, merger, division or any other circumstances, which may change the class, quantity and / or shareholder’s equity of the company’s shares, which may affect the creditor’s rights and interests of the holders of convertible corporate bonds issued this time or the derivative rights and interests converted into shares, the company will, according to the specific circumstances, follow the principles of fairness, impartiality The conversion price shall be adjusted in accordance with the principle of fairness and the principle of fully protecting the rights and interests of the holders of convertible corporate bonds issued this time. The adjustment contents and operation methods of the conversion price will be formulated in accordance with the relevant national laws and regulations and the relevant provisions of the securities regulatory department at that time.
3、 Price adjustment of convertible bonds to shares in previous times
The initial conversion price of “Shenghong convertible bonds” is 14.20 yuan / share. According to the resolution of the company’s 2020 annual general meeting of shareholders, the company implemented the 2020 annual dividend distribution plan in June 2021. After the implementation of this equity distribution, the conversion price of “Shenghong convertible bonds” is adjusted from 14.20 yuan / share to 14.10 yuan / share, and the effective date of the conversion price adjustment is June 18, 2021.
Approved by the reply on approving Jiangsu Eastern Shenghong Co.Ltd(000301) issuing shares to Shenghong Petrochemical Group Co., Ltd. to purchase assets and raise supporting funds (zjxk [2021] No. 4179) of China Securities Regulatory Commission, the company issued RMB ordinary shares to Shenghong Petrochemical Group Co., Ltd. and Jiangsu Lianyungang Port Co.Ltd(601008) Bohong Industrial Co., Ltd. in January 2022. After the listing of the new shares, the conversion price of “Shenghong convertible bonds” was adjusted from 14.10 yuan / share to 13.53 yuan / share, and the effective date of the conversion price adjustment was January 27, 2022.
Please refer to the details of the above conversion price adjustment on cninfo.com on June 10, 2021 and January 24, 2022（ http://www.cn.info.com.cn. ）Announcement on the price adjustment of convertible corporate bonds (Announcement No.: 2021075, 2022020).
4、 Reasons and calculation process for the price adjustment of this share conversion
Before the price adjustment of this conversion, the conversion price of “Shenghong convertible bonds” was 13.53 yuan / share. According to the resolution of the company’s 2021 annual general meeting of shareholders, the company will implement the 2021 annual dividend distribution plan. The specific contents are as follows: take the total share capital on the equity registration date when the distribution plan is implemented in the future as the distribution base, distribute cash dividends of 1.50 yuan (including tax) to all shareholders for every 10 shares, give bonus shares of 0 shares, and do not convert the accumulation fund into share capital. The ex right and ex interest date of this equity distribution is May 27, 2022. The announcement on the implementation of dividend distribution in 2021 (Announcement No.: 2022083) was also published in the securities times, China Securities Journal, Shanghai Securities News and cninfo.com（ http://www.cn.info.com.cn. ）Disclosure on.
According to the relevant provisions of the prospectus, after the equity distribution is implemented, the conversion price of “Shenghong convertible bonds” is adjusted from 13.53 yuan / share to 13.38 yuan / share, and the effective date of the conversion price adjustment is May 27, 2022.
The specific calculation process is as follows:
P1 = P0 － d = 13.53-0.15 = 13.38 yuan / share
Where: P1 is the adjusted conversion price, P0 is the conversion price before adjustment, and D is the cash dividend per share. It is hereby announced.
Jiangsu Eastern Shenghong Co.Ltd(000301) board of directors
May 20, 2022
