Towngas Smart Energy: Convertible Bond Price Adjusted After Dividend

Towngas Smart Energy Company Limited has adjusted the conversion price of its convertible bonds from HK$5.94 per share to HK$5.92 per share, effective October 17, 2025. This adjustment follows the issue of scrip shares at HK$3.998 per share as part of the company's scrip dividend scheme for the interim dividend of HK5 cents per share for the six months ended June 30, 2025.

The total outstanding principal amount of the convertible bonds is RMB1,835,603,119.35. Based on the adjusted conversion price, the maximum number of shares to be issued upon full conversion will increase from 373,352,777 shares to 374,614,104 shares.

The additional 1,261,327 shares will be allotted and issued under the general mandate granted by shareholders on May 27, 2021, which allows for the allotment and issue of up to 593,786,966 shares. The company will apply to the Stock Exchange for the listing of, and permission to deal in, these additional shares.