CROSSTEC Issues 50 Million Shares Following Conversion of Convertible Bonds

Stock News05-11

CROSSTEC (03893) has announced that it received a conversion notice from MKI regarding the conversion of a portion of MKI's convertible bonds at a conversion price of HK$0.11 per share, involving a principal amount of HK$5.5 million. The conversion and issuance of the related conversion shares, totaling 50 million shares, were completed on May 11, 2026. Following the issuance of these conversion shares and as of the date of this announcement, the company's total issued share capital has increased to 767 million shares. The conversion shares represent approximately 6.98% of the company's issued share capital immediately prior to the allotment and issuance, and approximately 6.52% of the enlarged issued share capital after the allotment and issuance. MKI remains the company's largest shareholder, holding 224.7 million shares, which constitutes approximately 29.31% of the company's enlarged issued share capital as of the date of this announcement.

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