Towngas Smart Energy Slashes Conversion Price of Bonds

MT Newswires Live

Oct 17

Towngas Smart Energy (HKG:1083) reduced the conversion price of certain convertible bonds to HK$5.92 per share from HK$5.94 apiece effective Friday, a same-day Hong Kong bourse filing said.

The move comes about as a result of the issue of scrip shares under the piped gas company's scrip dividend scheme.

Based on the new conversion price, the maximum number of shares to be issued on full conversion of the outstanding convertible bonds will rise to around 374.6 million shares from 373.4 million shares previously.

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