Far East Horizon adjusts convertible bond conversion price after dividend

Far East Horizon Limited announced an adjustment to the conversion price of its $250,000,000 Zero Coupon Guaranteed Convertible Bonds Due 2026 (2021 Convertible Bonds). The adjustment, effective September 24, 2025, follows the declaration of an interim dividend of HK$0.25 per share for the six months ended June 30, 2025. The conversion price will change from HK$6.70 per share to HK$6.48 per share.

This adjustment is expected to increase the maximum number of shares issuable upon full conversion of the outstanding 2021 Convertible Bonds. The number of shares will rise from 463,368 to 479,098, an increase of 15,730 shares. As of the announcement date, $400,000 of the 2021 Convertible Bonds remain outstanding.

The company has a General Mandate from its shareholders, granted on June 10, 2020, to issue and allot up to 792,720,336 shares. Approximately 77.61% of this mandate will be utilized if both the 2020 and 2021 Convertible Bonds are fully converted at their adjusted prices.