Stock Code: 002860 stock abbreviation: Hangzhou Star Shuaier Electric Appliance Co.Ltd(002860) Announcement No.: 2022-004 bond Code: 128094 bond abbreviation: xingshuai convertible bond
Hangzhou Star Shuaier Electric Appliance Co.Ltd(002860)
Suggestive announcement that “xingshuai convertible bonds” may meet the redemption conditions
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 note: from January 4, 2022 to January 17, 2022, the closing price of the company’s stock price for ten trading days shall not be lower than 130% of the current conversion price of “xingshuai convertible bonds” (i.e. 13.80 yuan / share). If the conditional redemption terms of “xingshuai convertible bonds” are triggered in the future (i.e. “if the closing price of the company’s shares on at least 15 trading days in any 30 consecutive trading days is not lower than 130% (including 130%) of the current convertible price)”, At that time, the board of directors of the company will decide whether to redeem all or part of the unconverted “xingshuai convertible bonds” at the price of the face value of the bonds plus the accrued interest in the current period in accordance with the relevant provisions of the conditional redemption terms in the prospectus for the public issuance of A-share convertible corporate bonds (hereinafter referred to as the “prospectus for convertible bonds”).
1、 Basic information of the company’s convertible bonds
Approved by the reply on approving Hangzhou Star Shuaier Electric Appliance Co.Ltd(002860) public issuance of convertible corporate bonds (zjxk [2019] No. 2859) of China Securities Regulatory Commission, the company publicly issued 2.8 million convertible corporate bonds on January 22, 2020, with a face value of 100 yuan each and a total issuance amount of 280 million yuan.
With the consent of SZS [2020] No. 97 document of Shenzhen Stock Exchange, the company’s 280 million yuan convertible corporate bonds have been listed and traded in Shenzhen Stock Exchange since February 19, 2020. The bonds are referred to as “xingshuai convertible bonds”, the bond code is “128094”, and the number of listed bonds is 2.8 million.
According to relevant laws and regulations and the prospectus for convertible bonds, the term of convertible bonds to shares issued by the company starts from the first trading day after the expiration of six months from the date of issuance of convertible bonds to the maturity date of convertible corporate bonds (i.e. July 22, 2020 to January 16, 2026), and the initial conversion price is 23.92 yuan / share.
The company implemented equity distribution in 2019, distributed RMB 2.10 in cash (including tax) to all shareholders for every 10 shares, and increased 7 shares for every 10 shares to all shareholders with capital reserve. According to the relevant provisions of the prospectus for convertible bonds and the relevant provisions of the CSRC on the issuance of convertible bonds, the conversion price of “xingshuai convertible bonds” is adjusted from 23.92 yuan / share to 13.95 yuan / share. The adjusted conversion price will take effect from May 7, 2020.
The company implemented equity distribution in 2020 and distributed 1.50 yuan in cash (including tax) to all shareholders for every 10 shares. According to the relevant provisions of the prospectus for raising convertible bonds and the relevant provisions of the CSRC on the issuance of convertible bonds, the conversion price of “xingshuai convertible bonds” is adjusted from 13.95 yuan / share to 13.80 yuan / share. The adjusted conversion price will take effect from June 8, 2021. 2、 Possible achievements of conditional redemption terms of convertible bonds
1. Conditional redemption clause
According to the provisions of the prospectus for convertible bonds, during the conversion period, in case of any of the following two situations, the board of directors of the company has the right to decide to redeem all or part of the convertible corporate bonds that have not been converted into shares at the price of the face value of the bonds plus the accrued interest of the current period:
① During the conversion period, if the closing price of the company’s shares for at least 15 trading days in any continuous 30 trading days is not less than 130% (including 130%) of the current conversion price;
② When the balance of convertible corporate bonds issued this time is less than 30 million yuan.
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).
If the conversion price has been adjusted within the above 30 trading days, the conversion price and closing price before the adjustment shall be calculated on the trading day before the adjustment, and the adjusted conversion price and closing price on the trading day after the adjustment.
2. Possible achievement of conditional redemption terms
From January 4, 2022 to January 17, 2022, the closing price of the company’s stock price for ten trading days shall not be lower than 130% of the current conversion price of “xingshuai convertible bonds” (i.e. RMB 13.80 / share). If the conditional redemption terms of “xingshuai convertible bonds” are triggered in the future (i.e. “if the closing price of the company’s shares on at least 15 trading days in any 30 consecutive trading days is not less than 130% (including 130%) of the current convertible price”), then according to the relevant provisions of the conditional redemption terms in the instructions for convertible bond raising, The board of directors of the company will decide whether to redeem all or part of the “xingshuai convertible bonds” that have not been converted into shares at the price of the face value of the bonds plus the accrued interest of the current period.
3、 Risk tips
In accordance with the relevant provisions of the measures for the administration of securities issuance of listed companies, the measures for the administration of convertible corporate bonds and the prospectus for the raising of convertible bonds, the company will convene the board of directors to consider whether to redeem the “xingshuai convertible bonds” after triggering the “conditional redemption terms” and timely fulfill the obligation of information disclosure. Please understand the relevant provisions of convertible bonds in detail, pay attention to the company’s subsequent announcements and pay attention to investment risks.
4、 Contact information
Contact Department: Securities Department of the company
Tel.: 0571-63413898
It is hereby announced.
Hangzhou Star Shuaier Electric Appliance Co.Ltd(002860) board of directors January 17, 2022
