CROSSTEC: MKI Converts HK$8.80 Million Bonds into 80 Million Shares, Raising Stake to 28.90%

Bulletin Express05-28

CROSSTEC Group Holdings Limited announced that major shareholder MKI has exercised part of its convertible bonds, converting HK$8.80 million at a fixed price of HK$0.11 per share. The transaction, completed on 28 May 2026, resulted in the issuance of 80.00 million new shares (“Conversion Shares”).

Following the conversion, CROSSTEC’s total issued share capital expanded from 766.62 million to 846.62 million shares. The newly issued shares equate to 10.44% of the pre-conversion share base and 9.45% of the enlarged share capital.

MKI’s ownership rose from 164.70 million shares (21.48%) to 244.70 million shares (28.90%), solidifying its position as the company’s largest shareholder. HIL maintained its 130.00 million shares, though its stake diluted from 16.96% to 15.36%. The free float held by other public shareholders now stands at 471.92 million shares, representing 55.74% of the enlarged capital.

No other changes to the board or capital structure were disclosed in the announcement dated 28 May 2026.

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