CTF Services Limited Adjusts Convertible Bonds Conversion Price

CTF Services Limited has announced an adjustment to the conversion price of its HK$780,000,000 4.00% convertible bonds due in 2025. The adjustment comes following the declaration of an interim dividend. The conversion price will shift from HK$8.043 to HK$7.39 per share, effective 22 March 2025. This adjustment follows the interim dividend payout of HK$0.30 per share and a special dividend of equal value.

As a result, the company can issue 105,548,037 new shares upon full conversion, an increase from the original 96,978,739 shares. This move represents approximately 2.64% of existing shares and 2.57% of the enlarged issued share capital. CTF intends to apply for listing these additional shares on the Hong Kong Stock Exchange. All other bond terms remain unchanged.