Pacific Basin Shipping adjusts convertible bond conversion price

Pacific Basin Shipping Limited (HKEX: 2343) announced an adjustment to the conversion price of its US$175,000,000 3% Guaranteed Convertible Bonds due 2025 (Stock Code: 40097), as stated in the announcement on the Hong Kong Stock Exchange. The conversion price will be adjusted from HKD1.39 to HKD1.35 per share, effective May 2, 2025. This adjustment stems from the final dividend of HKD0.051 per share for the year ended December 31, 2024, payable on May 16, 2025, with an ex-dividend date of May 2, 2025. Following the adjustment, the maximum number of shares issuable upon full conversion of the outstanding bonds, which totals USD28,110,000, is expected to be 163,165,015 shares. This announcement serves as a notification to bondholders regarding the adjustment, according to the terms and conditions of the bonds.