CTF Services Limited has announced an adjustment to the conversion price of its HK$850.00 million 2.80% convertible bonds due 2027. The adjustment follows the Minor Adjustment carried forward from the issuance of scrip shares for the Final Dividend in 2025, as well as the interim ordinary dividend of HK$0.28 declared for the six months ended 31 December 2025.
According to the announcement, the conversion price will be revised from HK$6.69 to HK$6.48 per share. The adjustment will become effective on 21 March 2026, immediately after the record date of 20 March 2026 for the interim dividend. The outstanding principal amount of the bonds stands at HK$212.00 million.
Following this conversion price update, the maximum number of new shares issuable upon full conversion of the outstanding bonds will increase from approximately 31.69 million to 32.72 million shares. This represents a rise of 1.03 million shares, or around 0.72% of the company’s existing issued share capital as of the announcement date.
CTF Services Limited stated that the additional shares will be issued under the General Mandate granted on 22 November 2024, and an application will be made to the Hong Kong Stock Exchange for their listing and permission to deal. The announcement also indicates that it may contain inside information, as defined under the relevant European regulation.
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