YuHua Education bondholders approve restructuring, await share conversion

** China YuHua Education Corporation Limited (HKEX:6169) has successfully obtained bondholder approval for its proposed restructuring of the 0.90% convertible bonds due in 2024. The approval, secured on February 10, 2025, allows the company to implement waivers and amendments to the bond terms. Key changes include a mandatory redemption of HK$430 million on February 17, 2025, and an escrow interest payment on April 1, 2025. The remaining principal amount of the bonds (HK$483,868,386) is now slated for mandatory conversion into shares at a price of HK$0.733 per share, pending the resumption of trading of the company's shares. The new shares will be allotted after the Company resumes its trading. YuHua will issue 660,000,000 conversion shares, representing 18.30% of shares before conversion. The conversion falls within the scope of a general mandate obtained at the company's annual general meeting. Trading of YuHua shares remains suspended since December 2, 2024, due to a delay in publishing annual results.